China accounts for almost a quarter of the value of worldwide imports of manufactured goods. That is significantly more than any other country. Germany, by contrast, accounts for about 8%, the US 7% and Japan about 5%. The European Union and the United Kingdom account for about the same amount as China, but almost two thirds of this trade is between countries within the bloc. While China’s weight in the world economy has increased, this increase has been uneven and the dependence on China varies significantly across economies.
Posts tagged as “China”
China is the primary source of cross border e-commerce worldwide, on average accounting for about one third of the origin of all purchases. Growth has stalled over the last three years, with high transportation costs and lack of capacity an impediment to growth.
Apparel and footwear accounts for about 9% of US airfreight imports and about 5% of US containerised imports by sea. China is the single largest market, but growth has come from Vietnam, Cambodia, India and Bangladesh. Air has a share of roughly 6% of the weight and 18% of the value of shipments, but subject to large fluctuations and differences between market.
China to Europe rail import and export volumes are down 10% and 56%, respectively, for the first 10 months of 2022. This follows several years of phenomenal growth, where both imports and exports into the 27 Members States of the European Union (EU) grew by 27% annually.