Top Chinese Trade Balances

China's trade surplus grows

China’s trade surplus grows

Technology exports were major factors behind China’s highest trade balances by product, while Hong Kong and the United States placed first and second respectively among trade partners with which the People’s Republic posted the highest positive trade balances.

China’s total trade balance for all products equaled a positive US$600.2 billion in 2015, almost tripling (up 287.2%) from a $155 billion surplus during 2011.

Year over year, China’s $600.2-billion trade surplus represents a 56.2% gain from its $384.3 billion surplus during 2014.

Top Chinese Trade Balances by Product and Country

Product+

The following 10 leading products generated a surplus subtotal of $485.2 billion for China in its global trade during 2015. Metrics listed below highlight China’s strongest competitive advantages over worldwide trading partners.

  1. Phone system devices: US$164.3 billion (up 60.3% since 2011)
  2. Computers, optical readers: $111.2 billion (down -9.4%)
  3. Lamps, lighting, illuminated signs: $35.2 billion (up 189.4%)
  4. Miscellaneous furniture: $28.2 billion (up 38.9%)
  5. TV receivers/monitors/projectors: $27.8 billion (down -6.3%)
  6. Cases, handbags, wallets: $26.5 billion (up 17.4%)
  7. Women’s clothing (not knit or crochet): $25 billion (up 59.3%)
  8. Footwear (rubber or plastic): $24.3 billion (up 39.4%)
  9. Seats (excluding barber/dentist chairs): $22.4 billion (up 43.9%)
  10. Cruise/cargo ships, barges: $20.2 billion (down -44.9%)

Exported Chinese goods that generated the greatest surplus improvements were: lamps, lighting and illuminated signs (up 189.4%), phone system devices including smartphones (up 60.3%), non-knit and non-crochet women’s clothing (up 59.3%) and seats (up 43.9%).

Three products provided reduced surpluses for China from 2011 to 2015, specifically cruise or cargo ships and barges (down -44.9%), computers (down -9.4%) and TV receivers, monitors and projectors (down -6.3%).

Product-

The 10 major products below accumulated a deficit subtotal of -$528.3 billion for China in international trade during 2015. China has demonstrated the severest competitive disadvantages in the exports and imports of the following commodities.

  1. Integrated circuits/microassemblies: -US$161 billion (up 16.4% since 2011)
  2. Crude oil: -$132.8 billion (down -31.9%)
  3. Iron ores, concentrates: -$57.9 billion (down -48.5%)
  4. Cars: -$40.1 billion (up 7.6%)
  5. Soya beans: -$34.8 billion (up 17.6%)
  6. Miscellaneous aircraft, spacecraft (e.g. helicopters, launchers): -$23.9 billion (up 111.8%)
  7. Petroleum gases: -$22.9 billion (up 96.5%)
  8. Refined copper, unwrought alloys: -$19.8 billion (down -16.4%)
  9. Copper ores, concentrates: -$19.4 billion (up 26.4%)
  10. Cyclic hydrocarbons: -$15.9 billion (up 15.5%)

China’s red ink in global trade expanded at the fastest rate for the following products: miscellaneous aircraft and spacecraft (up 111.8%), petroleum gases (up 96.5%), copper ores and concentrates (up 26.4%) and soya beans (up 17.6%).

Leading trade products showing deficit declines were: iron ores and concentrates (down -48.5%), crude oil (down -31.9%) and refined copper (down -16.4%).

Country+

In 2015, China generated a surplus subtotal worth $850.6-billion with the following 10 trading partners.

  1. Hong Kong US$321.5 billion (up 27.3% since 2011)
  2. United States $260.3 billion (up 28.9%)
  3. Netherlands $50.8 billion (down -0.03%)
  4. India $44.9 billion (up 65.2%)
  5. Vietnam $41.3 billion (up 129.5%)
  6. United Kingdom $40.7 billion (up 37.8%)
  7. Singapore $25.6 billion (up 244.3%)
  8. United Arab Emirates $25.5 billion (up 38%)
  9. Mexico $23.7 billion (up 62.5%)
  10. Spain $16.3 billion (up 33.9%)

Surpluses from the following trade partners grew at the fastest pace from 2011 to 2015: Singapore (up 244.3%), Vietnam (up 129.5%), India (up 65.2%) and Mexico (up 62.5%).

Among the top 10 surplus countries, only China’s positive net exports with the Netherlands declined in value posting a modest -0.03% drop from 2011 to 2015.

Country-

China experienced a losing international trade relationship with some countries. All told, the following 10 trade partners created a -$328.5 billion deficit subtotal in 2015 from exchanging exports and imports.

  1. Taiwan -US$99.9 billion (up 11.3% since 2011)
  2. South Korea -$73.1 billion (down -8.4%)
  3. Switzerland -$38 billion (up 61.2%)
  4. Australia -$33.5 billion (down -31.3%)
  5. Germany -$18.5 billion (up 13.1%)
  6. Brazil -$16.9 billion (down -17.7%)
  7. South Africa -$14.3 billion (down -23.4%)
  8. Oman -$12.9 billion (down -6.7%)
  9. Angola -$12.3 billion (down -44.6%)
  10. Malaysia -$9.1 billion (down -73.5%)

Swelling 61.2%, Switzerland’s deficit grew the fastest among the three country-specific deficits that China racked up with the listed trade partners. China’s negative net exports with Germany rose 13.1% followed by an 11.3% expansion for China’s deficit with Taiwan.

Leading shrinkage in the size of China’s deficits by country were : Malaysia (down -73.5%), Angola (down -44.6%), Australia (down -31.3%) and South Africa (down -23.4%).




 

See also China’s Top 10 Major Export Companies and China’s Top 10 Exports

Research Sources:
Trade Map, International Trade Centre. Accessed on November 1, 2016

Investopedia, Net Exports Definition. Accessed on November 1, 2016

The World Factbook, Field Listing: World, Central Intelligence Agency. Accessed on November 1, 2016

Wikipedia, Economy of China. Accessed on November 1, 2016