China’s exports to the world rise 8.2%

China’s exports of products to the world totaled $ 200.28 billion in April, an 8.2% rise from the immediately previous month, the General Administration of Customs reported.

In 2019, China was ranked as the world’s largest merchandise exporter, with 2 trillion 499 billion dollars, the same amount as the previous year.

That amount represented 13.2% of total foreign sales on the planet, according to data from the World Trade Organization (WTO).

Conversely, China’s imports from around the world totaled $ 154.94 billion in April, a 6.3% drop compared to March 2020.

Thus, China’s foreign trade was 355,220 million dollars, an increase of 1.3%, at a monthly rate.

Also, as a result, this Asian country achieved a trade surplus of $ 45.34 billion.

Chinese exports

China sells products mainly to economies such as the United States, Hong Kong, Japan, Korea and Vietnam, with a large presence globally, but especially with a high integration of value both locally and in the Asia-Pacific region.

Mainly, its imports come from South Korea, Taiwan, Japan, the United States, Australia, Germany and Brazil.

Trade agreement

China is part of the Regional Comprehensive Economic Association (RCEP), which aims to establish a free trade agreement and is expected to become to some extent a model for international economic and trade cooperation.

The RCEP is a framework agreement on regional free trade that involves the 10 ASEAN countries, China, Japan, South Korea, Australia, New Zealand and India.

Based on the bilateral FTA established by the «10 + 6» countries, the RCEP aims to integrate the five FTAs ​​that have already been established by ASEAN and the other six countries (Australia and New Zealand belong to the same area), establish a regional framework free trade agreement, reduce tariffs and other trade barriers, and promote economic cooperation, as well as the flow of goods and capital within the region.

In general, China’s exports are widely diversified by region and by product. They are also the exports that have grown the most globally in the last two decades.