That dollar amount results from a 35.6% increase compared to $2.498 trillion in 2019.
Year over year, the overall value of mainland China’s exported fell by -5.7% from $3.594 trillion for 2022.
The value of China’s total exports represents 13.8% of overall global exports (based on the world’s total $24.611 trillion one year prior for 2022).
Applying a continental lens, almost half (47.8%) of mainland China’s exports by value was delivered to fellow Asian countries while another 21.1% was sold to importers in Europe. China shipped 18.6% worth of goods to buyers in North America.
Smaller percentages went to customers in Africa (5.1%), Latin America (4.8%) excluding Mexico but including the Caribbean, Africa (4.6%), and Oceania (2.6%) led by Australia and New Zealand.
China’s Top Trading Partners
Below is a list highlighting 15 of China’s top trading partners in terms of export sales. That is, these countries imported the most Chinese shipments by dollar value during 2023. Also shown is each import country’s percentage of total Chinese exports.
- United States: US$502 billion (14.8% of China’s total exports)
- Hong Kong: $276.4 billion (8.2%)
- Japan: $157.6 billion (4.7%)
- South Korea: $149.3 billion (4.4%)
- Vietnam: $138.2 billion (4.1%)
- India: $117.8 billion (3.5%)
- Russia: $111.1 billion (3.3%)
- Germany: $100.6 billion (3%)
- Netherlands: $100.3 billion (3%)
- Malaysia: $88.1 billion (2.6%)
- Mexico: $81.5 billion (2.4%)
- United Kingdom: $78.2 billion (2.3%)
- Singapore: $77.6 billion (2.3%)
- Thailand: $75.9 billion (2.2%)
- Australia: $74 billion (2.2%)
Approaching two-thirds (62.8%) of Chinese exports in 2023 was delivered to the above 15 trade partners.
Focusing on these top 15 customers, there were two that increased their import purchases from mainland China, namely Russia (up 45.9% from 2022) and Mexico (up 5.1%).
Recording double-digit declines year over year were the Netherlands (down -14.8%), United States of America (down -13.9%) and Germany (down -13.4%).
For a more comprehensive listing of 100 trade partners, peruse the following section Searchable Datalist of Top Countries Importing China’s Exports.
Searchable Database of Top Countries Consuming China’s Exports
You can change the presentation order by clicking the triangle icon at the top of any of the columns below. The right-most shows the year-over-year percentage change in value for each importing country benchmarked against 2022.
Mainland China’s 100 major trade partners account for $3.325 trillion or 98.1% of all exported goods consumed by trade partners that imported from the People’s Republic during 2023.
| Rank | Importer | China's Exports (US$) | 2022-3 |
|---|---|---|---|
| 1. | United States | $111,057,217,000 | +45.9% |
| 2. | Hong Kong | $81,500,781,000 | +5.1% |
| 3. | Japan | $117,821,288,000 | -0.6% |
| 4. | South Korea | $75,929,761,000 | -3.2% |
| 5. | Vietnam | $78,242,009,000 | -4.1% |
| 6. | India | $77,576,182,000 | -4.4% |
| 7. | Russia | $138,244,768,000 | -5.9% |
| 8. | Germany | $88,060,436,000 | -6% |
| 9. | Netherlands | $74,022,143,000 | -6.1% |
| 10. | Malaysia | $276,415,902,000 | -7.1% |
| 11. | Mexico | $149,257,116,000 | -8.2% |
| 12. | United Kingdom | $157,584,021,000 | -8.9% |
| 13. | Singapore | $100,633,111,000 | -13.4% |
| 14. | Thailand | $502,003,681,000 | -13.9% |
| 15. | Australia | $100,266,429,000 | -14.8% |
| 16. | Taiwan | $68,469,035,000 | -16.1% |
| 17. | Indonesia | $65,382,869,000 | -8.3% |
| 18. | Brazil | $59,138,019,000 | -4.6% |
| 19. | United Arab Emirates | $55,809,295,000 | +3.6% |
| 20. | Philippines | $52,769,344,000 | -18.4% |
| 21. | Canada | $45,093,921,000 | -16% |
| 22. | Italy | $44,536,571,000 | -12.5% |
| 23. | Saudi Arabia | $43,002,177,000 | +13.2% |
| 24. | France | $42,094,857,000 | -8.8% |
| 25. | Spain | $39,661,704,000 | -5% |
| 26. | Türkiye | $38,919,313,000 | +14.4% |
| 27. | Poland | $37,178,783,000 | -2.6% |
| 28. | Belgium | $32,529,855,000 | -8.7% |
| 29. | Kazakhstan | $24,698,453,000 | +51% |
| 30. | South Africa | $23,679,483,000 | -2.1% |
| 31. | Bangladesh | $23,014,990,000 | -14.1% |
| 32. | Nigeria | $20,387,138,000 | -8.6% |
| 33. | Kyrgyzstan | $19,715,899,000 | +27.8% |
| 34. | Chile | $19,525,974,000 | -13.3% |
| 35. | Pakistan | $17,333,971,000 | -24.9% |
| 36. | Czech Republic | $16,374,140,000 | -10.2% |
| 37. | Israel | $15,023,594,000 | -8.8% |
| 38. | Egypt | $14,980,559,000 | -12.8% |
| 39. | Iraq | $14,351,625,000 | +2.6% |
| 40. | Cambodia | $12,803,535,000 | -9.7% |
| 41. | Greece | $12,798,856,000 | -1.5% |
| 42. | Uzbekistan | $12,394,790,000 | +65.2% |
| 43. | Colombia | $12,388,930,000 | -20.6% |
| 44. | Peru | $12,134,839,000 | -10.3% |
| 45. | Myanmar | $11,478,057,000 | -15.7% |
| 46. | Panama | $11,328,114,000 | -10.4% |
| 47. | Argentina | $10,752,953,000 | -15.8% |
| 48. | Iran | $10,107,447,000 | +7.1% |
| 49. | Liberia | $9,836,870,000 | +30.8% |
| 50. | Hungary | $9,777,146,000 | -6.6% |
| 51. | Algeria | $9,498,749,000 | +51.3% |
| 52. | Sweden | $9,464,845,000 | -16.9% |
| 53. | Ghana | $9,316,938,000 | +17.5% |
| 54. | Tanzania | $8,157,519,000 | +4.9% |
| 55. | Denmark | $8,151,936,000 | -20% |
| 56. | Kenya | $7,977,276,000 | -3.3% |
| 57. | New Zealand | $7,873,921,000 | -14.2% |
| 58. | Romania | $7,736,921,000 | +4.6% |
| 59. | Morocco | $6,477,166,000 | +12.8% |
| 60. | Slovenia | $6,200,607,000 | -9.6% |
| 61. | Ecuador | $5,866,098,000 | -6.7% |
| 62. | Belarus | $5,834,927,000 | +78.1% |
| 63. | Portugal | $5,794,843,000 | -3.1% |
| 64. | Switzerland | $5,766,546,000 | -24.9% |
| 65. | Senegal | $5,290,286,000 | +30% |
| 66. | Kuwait | $5,232,972,000 | +5.3% |
| 67. | Jordan | $5,095,745,000 | -10.7% |
| 68. | Austria | $4,696,279,000 | -8.3% |
| 69. | Guatemala | $4,602,525,000 | +5.4% |
| 70. | Democr. Rep. Congo | $4,504,761,000 | -12% |
| 71. | Ireland | $4,485,179,000 | -21.7% |
| 72. | Dominican Republic | $4,349,227,000 | +0.7% |
| 73. | Slovakia | $4,297,302,000 | -3.1% |
| 74. | Ivory Coast | $4,246,596,000 | +21.6% |
| 75. | Angola | $4,214,869,000 | +2.9% |
| 76. | Libya | $3,917,355,000 | +65.1% |
| 77. | Togo | $3,831,921,000 | +20.6% |
| 78. | Oman | $3,811,787,000 | -9.4% |
| 79. | Sri Lanka | $3,767,319,000 | +0.3% |
| 80. | Mozambique | $3,751,641,000 | +14% |
| 81. | Macao | $3,750,803,000 | -12.3% |
| 82. | Cameroon | $3,748,199,000 | +18.4% |
| 83. | Tajikistan | $3,673,614,000 | +65.7% |
| 84. | Qatar | $3,652,929,000 | -8.4% |
| 85. | Norway | $3,529,961,000 | -32% |
| 86. | Marshall Islands | $3,504,091,000 | +1% |
| 87. | Mongolia | $3,476,165,000 | +20.4% |
| 88. | Venezuela | $3,468,486,000 | +15.3% |
| 89. | Djibouti | $3,393,628,000 | +4% |
| 90. | Laos | $3,355,358,000 | +43.4% |
| 91. | Finland | $3,264,948,000 | -28.3% |
| 92. | Uruguay | $2,972,404,000 | -0.4% |
| 93. | Costa Rica | $2,783,575,000 | +17.5% |
| 94. | Ukraine | $2,769,042,000 | -16.1% |
| 95. | Serbia | $2,700,363,000 | +24.1% |
| 96. | Yemen | $2,687,497,000 | -3.9% |
| 97. | Guinea | $2,675,205,000 | +17.2% |
| 98. | Bulgaria | $2,647,121,000 | -7.2% |
| 99. | Ethiopia | $2,592,368,000 | +16.9% |
| 100. | Croatia | $2,398,383,000 | +5.9% |
Expanding the scope to encompass the top 100 customers for Chinese exports, the fastest-growing buyers compared to 2022 were Belarus (up 78.1%), Tajikistan (up 65.7%), Uzbekistan (up 65.2%), Libya (up 65.1%), Algeria (up 51.3%), Kazakhstan (up 51%) and Russia (up 45.9%).
Leading the decliners buying Chinese exports were Norway (down -32% from 2022), Finland (down -28.3%), Switzerland (down -24.9%), Pakistan (also down -24.9%) then Ireland (down -21.7%).
Countries Causing China’s Greatest Trading Deficits
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
China incurred the highest trade deficits with the following countries.
- Taiwan: -US$131.1 billion (country-specific trade deficit in 2023)
- Australia: -$81.5 billion
- Brazil: -$63.3 billion
- Switzerland: -$48.2 billion
- Oman: -$27.5 billion
- Chile: -$23.6 billion
- Saudi Arabia: -$21.3 billion
- Iraq: -$21.1 billion
- Russia: -$17.4 billion
- Qatar: -$17.2 billion
Among China’s trading partners that cause the greatest negative trade balances, Chinese deficits with Brazil (up 33.1%), Australia (up 28.8%) and Switzerland (up 14.2%) grew at the fastest pace from 2022 to 2023.
These cashflow deficiencies clearly indicate China’s competitive disadvantages with the above countries, but also represent key opportunities for China to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating China’s Biggest Trading Surpluses
Overall, mainland China posted an US$829.4 billion trade surplus in 2023 down by -5.5% from $877.6 billion in black ink during one year earlier in 2022.
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
China incurred the highest trade surpluses at the expense of the following countries.
- United States: US$335.9 billion (country-specific trade surplus in 2023)
- Hong Kong: $262.7 billion
- India: $99.3 billion
- Netherlands: $83.4 billion
- Mexico: $62.7 billion
- United Kingdom: $58.2 billion
- Singapore: $46.2 billion
- Vietnam: $45.4 billion
- Türkiye: $34.4 billion
- Philippines: $33.3 billion
Among China’s trading partners that generate the greatest positive trade balances, Chinese surpluses with Türkiye (up 16.5%) and Mexico (up 4.3%)grew from 2022 to 2023.
These positive cashflow streams clearly indicate China’s competitive advantages with the above countries, but also represent key opportunities for China to develop country-specific strategies to optimize its overall position in international trade.
China’s Major Exports Companies
China placed about 150 corporations on the Forbes Global 2000. Below is a sample of the major Chinese export companies that Forbes included.
- Aluminum Corporation of China (aluminum)
- BYD (cars, trucks)
- Dongfang Electric (electrical equipment)
- Dongfeng Motor Group (cars, trucks)
- Gree Electric Appliances (household appliances)
- Midea Group Co. Ltd. (household appliances)
- PetroChina (oil, gas)
- SAIC Motor (cars, trucks)
- Sinopec-China Petroleum (oil, gas)
- Sinopharm Group (pharmaceuticals)
- Tsingtao Brewery (beverages)
According to the China Trade Directory, the following Chinese companies ship products from China to its trading partners around the globe. Shown within parenthesis is the product category that the Chinese manufacturer specializes in.
- AA Technology Co., Ltd (advanced electronic components)
- EPOLAB Chemical Industries Inc. (epoxy chemical compounds, adhesives)
- Fu Feng Co., Ltd. (full range of plastic gear products)
- Myday machinery Inc. (lathes)
- Seal King (foam tapes)
- Shuz Tung Machinery Industrial Co. Ltd. (electronic equipment, machinery)
Taiwan & China Products Online provides comprehensive supplier listings for companies sitused in the People’s Republic encompassing both mainland China and its province of Taiwan.
- Apex Science & Engineering Corp. (infrared, LCD products)
- Asia Bicycle Trading Company (bicycles, parts and accessories)
- Hei Full Industrial Co., Ltd. (food processing equipment)
- Shenzhen Yongerjia Industry Co., Ltd. (LED displays, other LED products)
- Tai Erh Enterprise Co., Ltd. (polyester fabrics)
- Yancheng Meiyi Arts & Crafts Factory (solar powered signs)
See also China’s Top 10 Imports, China’s Top 10 Exports, Top Chinese Trade Balances and China’s Top 10 Major Export Companies
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles, Central Intelligence Agency. Accessed on February 29, 2024
China Trade Directory, Database with China and Taiwan Manufacturers. Accessed on February 29, 2024
Forbes 2020 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on February 29, 2024
G.T. Internet Information Co., Ltd., Taiwan & China Products Online. Accessed on February 29, 2024
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on February 29, 2024
International Trade Centre, Trade Map. Accessed on February 29, 2024
Investopedia, Net Exports Definition. Accessed on February 29, 2024
Wikipedia, List of Companies of China. Accessed on February 29, 2024