China: import of goods 2023 | Statista (2024)

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China: import of goods 2023 | Statista? ›

In 2023, China imported approximately 2.56 trillion U.S. dollars worth of goods. This indicated a decrease in import value by about 5.5 percent compared to the previous year. In 2013, China had surpassed the United States as the world's largest goods trader.

China, the world's largest importer of crude oil, imported 11.3 million barrels per day (b/d) of crude oil in 2023, 10% more than in 2022, according to China customs data.

The deficit with China decreased $102.9 billion to $279.4 billion in 2023. Exports decreased $6.2 billion to $147.8 billion and imports decreased $109.1 billion to $427.2 billion.

U.S. goods imports from China totaled $536.3 billion in 2022, up 6.3 percent ($32.0 billion) from 2021, and up 26 percent from 2012.

This has led to a marked increase in the share of imports coming from China, for both developed and emerging countries (roughly one percentage point between 2019 and 2022). However, the overall import value hides an even greater reliance on China for specific products, particularly in emerging markets.

Most of China's imports consist of machinery and apparatus (including semiconductors, computers, and office machines), chemicals, and fuels. The main import sources are Taiwan, South Korea, Japan, the United States, Australia, and the countries of the European Union (EU).

The United States pays interest on approximately $850 billion in debt held by the People's Republic of China.

In 2021, of $506.4 billion in the U.S. imports from China, the top commodity sectors were Machinery and Mechanical Appliances (47.7% of total U.S. imports from China), Furniture, Bedding, Lamps, Toys, Games, Sport Equipment, Paint, and Other Miscellaneous Manufactured Items (13.5%), and Chemicals, Plastics, Rubber, and ...

Who is China's largest trading partner? ›

New U.S. Census Bureau data shows the United States importing more goods from Mexico than from China.

In other words, the U.S. content of “Made in China” is about 55%. The fact that the U.S. content of Chinese goods is much higher than for imports as a whole is mainly due to higher retail and wholesale margins on consumer electronics and clothing than on most other goods and services.

Taxes and Duties

6 Additionally, consumer products from China were exempted from any import taxes. These lower tax rates helped to keep the cost of production low, enabling the country to attract investors and companies looking to produce low-cost goods.

With the second-largest economy in the World, China is the leader in exports. China exported nearly $3.59 trillion worth of goods in 2022. China's major exported goods are electronics and other machinery, and major imported goods are electronics, including integrated circuits and other computer components.

China imports for 2022 was $3,137.59B, a 1.43% increase from 2021. China imports for 2021 was $3,093.28B, a 30.26% increase from 2020. China imports for 2020 was $2,374.74B, a 4.86% decline from 2019. China imports for 2019 was $2,496.15B, a 2.65% decline from 2018.

In 2023, China's merchandise trade surplus amounted to around 823.2 billion U.S. dollars, slightly lower than in the previous year. The merchandise trade balance is the value of exported goods minus the value of imported goods.

In 2023, the gross domestic product (GDP) of China amounted to around 17.7 trillion U.S. dollars. In comparison to the GDP of the other BRIC countries India, Russia and Brazil, China came first that year and second in the world GDP ranking.