
Chinese exports to exceeded China’s imports from North America by $263.2 billion in 2014. Similarly, China achieved a $103.8 billion trading surplus with other Asian trade partners and a $103.7 billion positive balance from Europe. Excluding Mexico, China won a $102.8 billion surplus with Latin America and the Caribbean.
The fact that China earns these trade surpluses indicates Chinese competitive advantages for a diverse set of export products highlighted below.
These major product supply advantages form a root cause for China’s world-leading trade surplus of $384.3 billion during 2014, exceeding America’s $726.3 billion trade deficit by over a trillion dollars.
China’s trade surplus in 2014 has grown by 111.4% since 2010 when its positive balance stood at $181.8 billion.
China Major Product Supply Advantages
- Top 10
- Growth
- Detail
Top 10
Presented in descending order, the following list showcases the general product categories under which China earned the highest trade surpluses in 2014.
- Machinery: US$221.4 billion (19.1% of all product surpluses)
- Electronic equipment: $146.6 billion (12.7%)
- Furniture, lighting , signs and prefabricated buildings: $90 billion (7.8%)
- Knit or crochet clothing and accessories: $89.9 billion (7.8%)
- Clothing (not knit or crochet): $77.9 billion (6.7%)
- Footwear: $54 billion (4.7%)
- Articles of iron or steel: $48.9 billion (4.2%)
- Toys, games: $36.5 billion (3.2%)
- Iron and steel: $34.3 billion (3%)
- Leather, animal gut articles: $28.4 billion (2.5%)
The above top 10 product categories represent 71.5% of China’s overall product-category surplus subtotal which amounted to $1.2 trillion. For that subtotal, 59 of China’s 97 general product categories delivered a surplus in 2014.
Growth
Detail
China Major Product Supply Advantages by Country
- Top 10
- Growth
- Hong Kong
- America
- Netherlands
Top 10
Presented in descending order, the following list shows with which trade partners China earned the highest trade surpluses in 2014.
- Hong Kong: US$350.3 billion (31.9% of Chinese country-specific surpluses)
- United States: $237.3 billion (21.6%)
- Netherlands: $55.6 billion (5.1%)
- Vietnam: $43.8 billion (4%)
- India: $37.9 billion (3.4%)
- United Kingdom: $33.5 billion (3%)
- United Arab Emirates: $23.3 billion (2.1%)
- Mexico: $21.1 billion (1.9%)
- Singapore: $18.1 billion (1.6%)
- Turkey: $15.6 billion (1.4%)
The above 10 trade partners represent 76.1% of China’s subtotal surplus of $1.1 trillion from the 157 geographic entities with which China demonstrated competitive trade advantages. That subtotal excludes the 62 trade partners with which China incurred trade deficits.
Growth
Hong Kong
America
Netherlands
See also China’s Top 10 Exports, Highest Value Chinese Export Products,China’s Top 10 Imports and China’s Top Import Partners
Research Sources:
The World Factbook, Country Profiles, Central Intelligence Agency. Accessed on November 26, 2015
Trade Map, International Trade Centre. Accessed on November 26, 2015
Investopedia, Net Exports Definition. Accessed on November 26, 2015