The world’s largest exporter, China’s Top Import Partners
China shipped US$2.282 trillion worth of products around the globe in 2015. That figure represents roughly 12.2% of overall global exports estimated at $18.686 trillion.
From a continental perspective, 50.8% ofChina’s total exports by value in 2015 were delivered to other Asian trade partners.
North American importers purchased 20.8% of Chinese shipments while 17.7% worth arrived in European countries.
At 4.8%, a much smaller portion of Chinese exports were bought by African importers.
China’s Top Import Partners
Below is a list showcasing 15 of China’s top import partners, countries that imported the most Chinese shipments by dollar value during 2015. Also shown is each import country’s percentage of total Chinese exports.
- United States: US$410.8 billion (18% of total China exports)
- Hong Kong: $334.3 billion (14.6%)
- Japan: $135.9 billion (6%)
- South Korea: $101.5 billion (4.4%)
- Germany: $69.2 billion (3%)
- Vietnam: $66.4 billion (2.9%)
- United Kingdom: $59.7 billion (2.6%)
- Netherlands: $59.6 billion (2.6%)
- India: $58.3 billion (2.6%)
- Singapore: $53.1 billion (2.3%)
- Taiwan: $45.1 billion (2%)
- Malaysia: $44.2 billion (1.9%)
- Australia: $40.4 billion (1.8%)
- Thailand: $38.3 billion (1.7%)
- United Arab Emirates: $37.1 billion (1.6%)
Over two-thirds (68.1%) of Chinese exports in 2015 were delivered to the above 15 trade partners.
Only two of China’s top import partners decreased the value of purchases from the People’s Republic over the 5-year period ending in 2015: Germany (down -9.4%) and Japan (down -8.3%).
China increased its exports to Vietnam by the greatest percentage, up by 128.2% from 2011 to 2015. In second place was Malaysia with its 58.5% gain, followed by Singapore (up 49.4%) and Thailand (up 49.1%).
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export countrydoesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
In 2015, China incurred the highest trade deficits with the following countries:
- Taiwan: -US$99.9 billion (country-specific trade deficit in 2015)
- South Korea: -$73.1 billion
- Switzerland: -$38 billion
- Australia: -$33.5 billion
- Germany: -$18.5 billion
- Brazil: -$16.9 billion
- South Africa: -$14.3 billion
- Oman: -$12.9 billion
- Angola: -$12.3 billion
- Malaysia: -$9.1 billion
Among China’s import partners that caused negative trade balances, Chinese deficits with Switzerland (up 61.2%), Germany (up 13.1%) and Taiwan (up 11.3%) were the only three that expanded from 2011 to 2015.
These cashflow deficiencies clearly indicate China’s competitive disadvantages with the above countries, but also represent key opportunities for China to develop country-specific strategies to strengthen its overall position in international trade.
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
In 2015, China incurred the highest trade surpluses with the following countries:
- Hong Kong: US$321.5 billion (country-specific trade surplus in 2015)
- United States: $260.3 billion
- Netherlands: $50.8 billion
- India: $44.9 billion
- Vietnam: $41.3 billion
- United Kingdom: $40.7 billion
- Singapore: $25.6 billion
- United Arab Emirates: $25.5 billion
- Mexico: $23.7 billion
- Spain: $16.3 billion
Among China’s import partners that cause the greatest positive trade balances, Chinese surpluses with Singapore (up 244.3%), Vietnam (up 129.5%) and India (up 65.2%) grew at the fastest pace from 2011 to 2015.
These positive cashflow streams clearly indicate China’s competitive advantages with the above countries, but also represent key opportunities for China to develop country-specific strategies to optimize its overall position in international trade.
Companies Servicing Chinese Import Partners
China placed 149 corporations on the Forbes Global 2000 for 2015. Below is a sample of the major Chinese export companies that Forbes included:
- PetroChina (oil, gas)
- Sinopec-China Petroleum (oil, gas)
- SAIC Motor (cars, trucks)
- Dongfeng Motor Group (cars, trucks)
- BYD (cars, trucks)
- Gree Electric Appliances (household appliances)
- Midea Group Co. Ltd. (household appliances)
- Tsingtao Brewery (beverages)
- Sinopharm Group (pharmaceuticals)
- Aluminum Corporation of China (aluminum)
- Dongfang Electric (electrical equipment)
According to the China Trade Directory, the following Chinese companies ship products from China to its import partners around the globe. Shown within parenthesis is the product category that the Chinese manufacturer specializes in.
- Fu Feng Co., Ltd. (full range of plastic gear products)
- AA Technology Co., Ltd (advanced electronic components)
- EPOLAB Chemical Industries Inc. (epoxy chemical compounds, adhesives)
- Seal King (foam tapes)
- Myday machinery Inc. (lathes)
- Shuz Tung Machinery Industrial Co. Ltd. (electronic equipment, machinery)
Taiwan & China Products Online provides comprehensive supplier listings for companies sitused in the People’s Republic encompassing both mainland China and its province of Taiwan.
- Shenzhen Yongerjia Industry Co., Ltd. (LED displays, other LED products)
- Apex Science & Engineering Corp. (infrared, LCD products)
- Yancheng Meiyi Arts & Crafts Factory (solar powered signs)
- Hei Full Industrial Co., Ltd. (food processing equipment)
- Tai Erh Enterprise Co., Ltd. (polyester fabrics)
- Asia Bicycle Trading Company (bicycles, parts and accessories)
See also China’s Fastest-Growing Import Partners, Highest Value Chinese Import Products and Top Chinese Trade Balances
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on March 22, 2016
The World Factbook, Country Profiles, Central Intelligence Agency. Accessed on March 22, 2016
Trade Map, International Trade Centre. Accessed on March 22, 2016
Investopedia, Net Exports Definition. Accessed on March 22, 2016
Wikipedia, List of Companies of China. Accessed on March 22, 2016
Forbes 2015 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on March 22, 2016
China Trade Directory, Database with China and Taiwan Manufacturers. Accessed on March 22, 2016
G.T. Internet Information Co., Ltd., Taiwan & China Products Online. Accessed on March 22, 2016