The cost of crude oil imported into the People’s Republic of China totaled US$503.4 billion in 2024. That dollar total for mainland China’s spending on crude petroleum oil accelerated by 92.8% compared to $261.2 billion five years earlier for 2020. Year over year, China’s imports of crude oil slipped by -2.1% 2024 versus $514.4 billion in 2023. In contrast, a much lesser … [Read more...] about Top 15 Crude Oil Suppliers to China
Asia
South Korea’s Top Trading Partners
Officially named the Republic of Korea, South Korea is strategically located between the world-class importers namely China to its west and another Asian economic powerhouse Japan to South Korea’s east. South Korea exported US$683.7 billion worth of products during 2024, up by 33.3% compared to $512.8 billion for 2020. On an annual basis, the dollar total for 2024 results … [Read more...] about South Korea’s Top Trading Partners
Japan’s Top Trading Partners
The world’s fourth-largest exporter behind China, America and Germany, Japan exported US$707.3 billion worth of products around the world in 2024. That dollar amount results from a -1.7% year-over-year retreat versus $719.8 billion in 2023. From 2020 to 2024, the overall value of Japanese exported goods grew by 10.4% from $641 billion. Known as the Land of the Rising Sun, … [Read more...] about Japan’s Top Trading Partners
Vietnam’s Top Trading Partners
The Socialist Republic of Vietnam exported US$370.9 billion worth of products in 2022. That dollar metric results from a 52.2% increase from $243.7 billion 5 years earlier in 2018. Year over year, the overall value of Vietnamese exports grew by 10.5% compared to $335.8 billion one year earlier for 2022. Applying a continental lens, approaching half (47.6%) of Vietnam's … [Read more...] about Vietnam’s Top Trading Partners
Pakistan’s Top Trading Partners
In addition to its southern coastline along the Arabian Sea and Gulf of Oman, Pakistan shares land borders with China in the northeast, India to the east, Iran to the southwest and Afghanistan to the west. Pakistan shipped US$28.7 billion worth of exported products around the globe in 2023. That dollar amount represents a 20.7% increase compared to $23.8 billion five years … [Read more...] about Pakistan’s Top Trading Partners