China’s Top 10 Trading Partners in 2020
China‘s main trading partners include, in descending order, the European Union, the United States and South Korea.
China positioned itself as the world’s largest merchandise trader in 2020, with exports of $ 2 trillion 590.646 million and imports of $ 2 trillion 055.612 million.
Total trade between China and the European Union totaled $ 649.528 million last year, according to data from the Chinese General Administration of Customs.
In the interior, that figure was made up of exports of 390,978 million and imports of 258,551 million.
The United States traded products with China for a total of 586,721 million dollars, of which 451,813 corresponded to exports and 134,908 million to imports.
In third place among China’s trading partners is South Korea, which sold it goods for 112.505 million and bought goods for 172.760 million, for a sum of 285.264 million dollars.
Trading partners
According to the Chinese authorities, as the next stage, China intends to establish a network of high-level free trade agreements, initially with neighboring countries, before extending it to the countries participating in the “One Belt, One Road” Initiative and then to any country in the world.
Other trading partners of China were: Hong Kong (exports for 272,659 million and imports for 6,984 million) and Taiwan (exports for 60,142 million and imports for 200,664 million)
Together with its partners in free trade agreements, China intends to further reduce tariffs and non-tariff barriers to promote the mutual opening of trade in goods and try to achieve mutual benefits and positive results for all.
Meanwhile, China intends to work actively to achieve the opening of trade in services and investment spheres, promote facilitation and liberalization of trade in services and investment, and create better market access and protection conditions for investments for Chinese investors participating in the world market.
The list of China’s main trading partners is completed: Germany (a total trade of 192,086 million), Australia (168,319 million), Malaysia (131,161 million), Brazil (119,040 million) and Russia (107,765 million).
China’s Total Export & Import Values by Country/Region, December 2020
