China international trade plays a significant role behind the overall growth of world trade market. By the end of 2007, China’s overall volume of foreign trade is estimated to reach 2.1 trillion U.S. dollars mark. This is because of the continued global economic growth and sustaining demand of international market, China’s international trade is growing speedily.
A market survey report reveals that in October, 2007, China’s trade surplus hit a record monthly high of US$23.8 billion, which is up 27% from the previous year high of US$18.8 billion.
The technology imports in China touched to 17.95 billion U.S. dollars in the first nine months of 2007. The European Union (EU) is the largest technology exporter to China.
In terms of technology imports to China, Japan and the United States ranked the second and third respectively. The overall technology imports to China from Japan touched to USD 4.45 billion mark and that from the US, it touched to USD 2.89 billion mark.
It is also expected that by the end of 2007, the export volume of China will touch USD 1.2 trillion and import volume of China will touch the USD 950 billion mark.
Market survey report also reveals that by 2008, China’s trade volume will touch 2.4 trillion U.S. dollars mark.
This should also be noted that approximately 22.2% of the China’s total technology imports come from railway transport sector.
Technology imports, specifically the electronic components manufacturing sector of China touched to USD 3.49 billion.
Trade partners: Leading trading partners of China include U.S.A., Hong Kong, Taiwan, Japan, South Korea, and Germany.
Export: $583.1 billion. The major exporting products include machinery and equipment, medical equipments, plastics, iron and steel.
Imports: $552.4 billion. The major imported products include oil and minerals, organic chemical and optical equipments.
Market share in major export market (in percent): imports from china divided by total imports
The chart given below depicts that in terms of import from China, Japan ranked first, followed by United States and European Union.
Last Updated on : 18th July 2013