According to the latest China's trade data, in 2021, China's top five trading partners were ASEAN, the European Union, the United States, Japan and South Korea. Except that the import and export volume to Japan increased by less than 10%, the other four increased by more than 18%. In terms of product classification, mechanical and electrical products account for the largest proportion, accounting for 59% of the total export value. In terms of the ranking of the city's foreign trade volume, the top 10 are located in eastern China, namely: Shanghai, Shenzhen, Beijing, Suzhou, Dongguan, Ningbo, Guangzhou, Xiamen, Tianjin and Qingdao, of which the South accounts for 7 and the north for 3.
From 2015 to 2020, integrated circuits, crude oil, iron ore and their concentrates were China's main imported products, among which integrated circuits were the largest key imported products in China. With the development of China's integrated circuit industry, the import volume showed a trend of increasing year by year. In 2020, its import volume reached 242.07 billion yuan, accounting for 17%, with a year-on-year growth rate of 14.84%.
For a long time, ASEAN, the European Union, the United States, Japan and South Korea have been China's top five trading partners. From 2015 to 2019, the EU has always been the largest trading partner of China, but the UK will leave the EU in 2020. Therefore, China will exclude the UK when calculating the import and export volume of EU goods in 2020. In 2020, China's import and export volume of goods to ASEAN reached a new high. ASEAN surpassed the EU and became China's largest trading partner.
The United States is China's top three trading partners. In 2019, Sino US trade frictions occurred frequently, and China's import and export of goods to the United States were affected. The total import and export volume of China's goods to the United States decreased by 10.72% year-on-year. However, in 2020, China's total import and export of goods to the United States resumed growth, reaching 4059.8 billion yuan, a year-on-year increase of 8.79%. For a long time, China's import and export of goods to the United States has shown a surplus. In 2020, China's import and export trade surplus of goods to the United States was 2196 billion yuan.
Japan is China's fourth largest trading partner. In 2020, China's total import and export of goods to Japan reached 2197.3 billion yuan. However, in the past two years, the growth rate of China's total import and export of goods to Japan has slowed down, with a year-on-year growth rate of only 0.45% and 1.2% respectively. On the other hand, China's import and export of goods to Japan showed a deficit. From 2015 to 2020, China's import and export trade deficit of goods to Japan was 220.7 billion yuan
South Korea is China's major trade deficit country, but it is also China's fifth largest trading partner. From 2015 to 2020, China's total imports and exports of goods to South Korea fluctuated, with a year-on-year decline of 5.13% in 2019. In 2020, China's total import and export of goods to South Korea rebounded slightly to 1974.5 billion yuan, a year-on-year increase of 0.7%.
From 2015 to 2020, the trade volume of goods between China and ASEAN continued to reach a new high. In 2020, ASEAN became China's largest trading partner, and the two sides achieved import and export trade of goods of 4735.7 billion yuan, a year-on-year increase of 7.02%. Among them, China's export of goods to ASEAN was 2655 billion yuan, its import was 2080.7 billion yuan, and its trade surplus was 574.3 billion yuan.
In 2020, the UK will leave the EU. Therefore, when calculating the import and export volume of goods between China and the EU in 2020, the General Administration of Customs of China excluded the UK, which was 4495.8 billion yuan, a year-on-year decrease of 7.54%. If the import and export volume of goods to the UK is included, China's import and export volume of goods to the former EU will increase by 5.61% to 5135.3 billion yuan in 2020, which will exceed the import and export volume of goods with ASEAN. It can be seen that the EU is one of China's important trading partners.
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