China’s 10 Fastest Growing Export Markets In 2020/21


Posted: 22nd June 2021 11:13

China’s exports continued to grow in 2020, despite the unprecedented disruption to the global economy caused by the COVID-19 pandemic.

In 2020, China’s exports increased by 3.6 percent for a total of US$2.59 trillion, making it responsible for about 15 percent of global exports. The previous year, in 2019, China’s exports increased by just 0.5 percent.

This growth came despite diminished demand from a global economic downturn, and logistical trade constrains caused by the pandemic. China’s biggest export partners in 2020 were the US (US$46.5 billion), Hong Kong (US$34.3 billion), Japan (US$13.4 billion), Vietnam (US$13 billion), and South Korea (US$11.7 billion).

Beyond China’s largest trade partners, however, it is rapidly increasing exports to a number of other countries across the world. In this article, we look at China’s 10 fastest growing trade partners in 2020, and the most valuable goods sent to these markets.

Interestingly, six of China’s 10 fastest growing export markets were in the Middle East and Africa, showing China’s interest in developing trade in these areas, while the rest were in Europe. While China has a number of free trade agreements, none of them were with countries on this list.

Leading exports to these markets are dominated by electrical machinery, equipment, and machinery. Products in these categories include phones, computers, video displays, air pumps, air conditioners, heaters, and the like.

This list is based on data provided by the Observatory for Economic Complexity. The sample excludes countries that received less than US$1 billion worth of Chinese exports.

We rank countries based on the rate of trade value growth. To be noted, trade value is not just affected by quantity, but also price and currency fluctuations.

1. Serbia

Leading Products

1) Nuclear reactors, boilers, machinery, and mechanical appliances:

2) Electrical machinery, equipment, and parts:

3) Textiles and worn clothing:

2. Ghana

Leading Products

1) Electrical machinery, equipment, and parts:

2) Nuclear reactors, boilers, machinery, and mechanical appliances:

3) Vehicles and parts:

3. Cameroon

Leading Products

1) Electrical machinery, equipment, and parts:

2) Nuclear reactors, boilers, machinery, and mechanical appliances:

3) Footwear, gaiters, and parts:

4. Ireland

Leading Products

1) Nuclear reactors, boilers, machinery, and mechanical appliances:

2) Electrical machinery, equipment, and parts:

3) Organic chemicals:

5. Iraq

Leading Products

1) Nuclear reactors, boilers, machinery, and mechanical appliances:

2) Electrical machinery, equipment, and parts:

3) Furniture, bedding mattresses, cushions, etc.:

6. Israel

Leading Products

1) Electrical machinery, equipment, and parts:

2) Nuclear reactors, boilers, machinery, and mechanical appliances:

3) Furniture, bedding mattresses, cushions, etc.:

7. Poland

Leading Products

1) Electrical machinery, equipment, and parts:

2) Nuclear reactors, boilers, machinery, and mechanical appliances:

3) Optical, photographic, cinematographic, measuring, checking, medical or surgical instruments and apparatus:

8. Saudi Arabia

Leading Products

1) Electrical machinery, equipment, and parts:

2) Nuclear reactors, boilers, machinery, and mechanical appliances:

3) Furniture, bedding mattresses, cushions, etc.:

9. Turkey

Leading Products

1) Nuclear reactors, boilers, machinery, and mechanical appliances:

2) Electrical machinery, equipment, and parts:

3) Optical, photographic, cinematographic, measuring, checking, medical or surgical instruments and apparatus:

10. United Kingdom

Leading Products

1) Electrical machinery, equipment, and parts:

2) Nuclear reactors, boilers, machinery, and mechanical appliances:

3) Textiles and worn clothing:


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