Is China the World’s Top Trader?
Is China the World’s Top Trader?Top
Over the past several decades, Chinese trade has expanded at a breakneck pace. In 1995, the value of China’s imports and exports of goods totaled $280.9 billion or 3 percent of global trade. By 2018, its total trade in goods had jumped to $4.6 trillion or 12.4 percent of global trade. The US is the world’s second-largest trader at 11.5 percent of total trade, followed by Germany at 7.7 percent.
The World’s Top Traders (2018)
| Countries | Import (Millions $) | % of Global Imports | Export (Millions $) | % of Global Exports | | China | 2,134,982 | 11.37 | 2,494,230 | 13.45 |
| US | 2,611,432 | 13.92 | 1,665,302 | 8.98 |
| Germany | 1,292,726 | 6.69 | 1,562,418 | 8.43 |
| Source: UN Comtrade |
The value of China’s exports in goods annually surpasses the amount it imports from the rest of the world.1 In 2018, China exported $2.49 trillion in goods while it imported $2.13 trillion. The majority of China’s surplus comes from trade with the US and Hong Kong. Despite significant trade tensions between Beijing and Washington, China’s trade with the US expanded in 2018 compared to 2017, and its exports to the US reached record levels. China exported $480 billion worth of goods to the US in 2018 (19 percent of all its exports), but only imported $156 billion (7.3 percent of all its imports). In the case of Hong Kong, China exported $303 billion in 2017 (12.2 percent of total exports) and imported just $9 billion (0.4 percent of total imports).
The stacked area chart below depicts the value of China’s imports and exports with the world. The trend line represents China’s global trade balance. Hover over the interactive to see additional details.
China’s Global Trade Balance
China’s trade with the rest of the world is more balanced. When excluding trade with the US and Hong Kong, China exported $1.71 trillion and imported $1.97 trillion in goods in 2018. Use the tool below to explore China’s trade surplus with key partners besides the US and Hong Kong. The interactive can also be used to explore the economies with which China has a trade deficit, such as South Korea. The “customize” option allows users to compare up to nine trading partners of interest.
Breaking Down the Rest of China’s Trade
Explore China’s bilateral trade. Sort by:
To view the full dataset, please view on a desktop computer.
It is also important to consider the value of China’s trade in services. As China’s economy has matured, the demand for services has grown. Between 2000 and 2017, the value of services imported by China grew from $36 billion to $470 billion.
China’s Trade in Services
Much of these services come from advanced economies. In 2017, China’s trade in services with the US totaled $75 billion, which makes up between 10-12 percent of total trade between the two economic powerhouses. In contrast to their trade in goods, trade in services tips heavily in favor of the US. China imported $57.6 billion in services from the US in 2017 while it exported only $17.4 billion to the US.
Hong Kong and the European Union are also major services providers. Services imports from Hong Kong hit $39.6 billion in 2017. China imported $42.9 billion in services from the EU in 2016.
FAQs
The World's Top Traders (2018)
Is China the world's top trader? ›
Even so, China continued to play an outsized role in the global economy, accounting for 18% of global GDP and is regarded still as the world's largest trading economy.
Who is the biggest trader country in the world? ›
The United States is the 2nd largest goods exporter in the world, behind only China. U.S. goods exports to the world totaled $2.1 trillion in 2022, up 17.5 percent ($307.3 billion) from 2021.
What is the rank of China in trade? ›
Historical Data
In 2022, China exported a total of $3.73T, making it the number 1 exporter in the world.
Who is the largest trader in the world? ›
Top 10 Most Successful FOREX Traders in the World
- George Soros. George Soros, often referred to as the «Man Who Broke the Bank of England», is an iconic figure in the world of forex trading. ...
- Paul Tudor Jones. ...
- Bill Lipschutz. ...
- Stanley Druckenmiller. ...
- Michael Marcus.
The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world's trading nations and ratified in their parliaments.
Did the US overtake China as Germany's top trading partner? ›
BERLIN, Aug 8 (Reuters) - The United States overtook China as Germany's biggest trading partner in the first half of 2024, according to preliminary German statistics office data, as Berlin's drive to reduce dependency on Beijing takes shape amid a resilient U.S. economy.
Is China the largest exporter in the world? ›
The People's Republic of China is the largest exporter of goods in the world, with a total export value for 2022 of $3.71 trillion.
Which country is best for traders? ›
Some of the popular Forex trading countries include the United States, the United Kingdom, Japan, Australia, and Switzerland. These countries have well-developed financial markets, stable regulatory environments, and sophisticated trading infrastructure, making them attractive to traders worldwide.
Who is China's biggest customer? ›
List of largest trading partners of China
| Rank | Country / Territory | Trade balance |
|---|
| - | ASEAN | 135.6 |
| - | European Union | 219.5 |
| 1 | United States | 336.1 |
| 2 | Japan | -2.9 |
20 more rowsAll of China's energy production is No 1 in the world. Steel production, cement, most building materials. China's motor car production is also the highest in the world. Due to demographics, just about anything China produces will be number one in volume.
What does the US rely on China for? ›
In 2021, of $506.4 billion in the U.S. imports from China, the top commodity sectors were Machinery and Mechanical Appliances (47.7% of total U.S. imports from China), Furniture, Bedding, Lamps, Toys, Games, Sport Equipment, Paint, and Other Miscellaneous Manufactured Items (13.5%), and Chemicals, Plastics, Rubber, and ...
Who is the king of trading? ›
| Rakesh Jhunjhunwala |
|---|
| Occupations | Investor Stock trader |
| Spouse | Rekha Jhunjhunwala ( m. 1987) |
| Children | 3 |
| Awards | Padma Shri (2023; posthumously) |
5 more rowsList of Top Traders in India
| Position | Trader |
|---|
| 1 | Rakesh Jhunjhunwala |
| 2 | Radhakishan Damani |
| 3 | Ramdeo Agarwal |
| 4 | Ashish Dhawan |
9 more rowsJun 21, 2024
Current Net Worth and Financial Status
As of 2024, George Soros' net worth is estimated at $8.6 billion, making him the richest Forex trader in the world. His wealth is a testament to his strategic brilliance, deep market understanding, and relentless pursuit of financial success.
Which country is the best trader? ›
Top 10 Forex Trading Countries
Singapore – USD 340 billion average daily turnover. Japan – USD 195 billion average daily turnover. Switzerland – USD 161 billion average daily turnover. France – USD 118 billion average daily turnover.
Is China a world leader in trade? ›
It is well recognised that China has become the world's largest trading nation. Less appreciated is the effect this has had in displacing the United States from its traditional dominance as a trading partner for other countries around the world.
Who has the largest trade balance in the world? ›
This statistic shows the 20 countries with the highest trade surplus worldwide in 2022. In 2022, China was the country with the highest trade surplus with approximately 877.6 billion U.S. dollars.
Who is the largest exporter of the world? ›
CHINA. With the second-largest economy in the World, China is the leader in exports. China exported nearly $3.59 trillion worth of goods in 2022. China's major exported goods are electronics and other machinery, and major imported goods are electronics, including integrated circuits and other computer components.
