China, the United States, Germany and Hong Kong ranked as the largest exporters and importers of intermediate goods (IG) in the world in the second quarter of 2021, reported the World Trade Organization (WTO).
Like most Intermediate Goods traders, China far exceeded pre-pandemic levels in 2021.
Also, as the world’s leading provider of IG, China maintained high export growth of 42% year-on-year.
Australia‘s IG exports grew the most during the first half of the year.
This was mainly due to exports of iron ore concentrates (101% in the second quarter) used by the steel industry and exports of wheat and meslin (183%).
Brazil, a newcomer among the top 15 exporters in the second quarter, increased its IG exports by 48%, with a large increase in soybean exports to China amounting to $ 12 billion and accounting for more than 20% of exports. total exports of intermediate products from Brazil.
In particular, China was the main buyer of industrial inputs. Its imports grew 45% year-on-year, continuing to recover from the Covid-19 crisis.
Importers of intermediate goods
The United States stepped up its imports of information technology components from Southeast Asia, and more especially from Malaysia (processors and integrated circuits) and Chinese Taipei (parts and accessories for data processing machines).
Meanwhile, India continued its strongest growth in intermediate goods imports since the beginning of the year. With an increase of 119% in the second quarter, essentially linked to non-monetary gold (1,034%), non-industrial rough diamonds (896%) and integrated circuits (333%).
Trade in industrial inputs between Asian economies totaled US $ 706 billion, with year-on-year growth of 43% in the second quarter of 2021.
The highest interregional growth was recorded in Africa towards Asia, at 98 percent.
In general, African companies shipped mainly precious metals, iron ore concentrates and copper cathodes to their partners in Asian supply chains.