Squawk Box. At that time, China came behind Canada and Mexico on the list of the US’s top trading partners. 1981-2020 Data | 2021-2022 Forecast | Calendar | Historical. Both exports and imports hit all-time highs as the global demand continued to recover from the pandemic shock. China's trade surplus widened sharply to USD 58.93 billion in August 2020 from USD 34.72 billion in the same month the previous year and far above market expectations of USD 50.5 billion. The largest surplus was held by Germany (EUR 19 511 million), followed by Ireland (EUR 5 061 million) and Finland (EUR 1 252 million). Since 1995, China has been recording consistent trade surpluses which from 2004 to 2009 has increased 10 times. The U.S. goods and services trade deficit with China was $308.8 billion in 2019. China Trade Balance recorded a surplus of 75.4 USD bn in Nov 2020, compared with a surplus of 58.4 USD bn in the previous month. In 2019, China posted a trade surplus of USD 421.9 billion, the biggest since 2016, as exports increased 0.5 percent and imports fell 2.7 percent on weak domestic demand and trade tensions with the US. China's trade surplus widened to USD 75.42 billion in November 2020 from USD 37.18 billion in the same month the previous year, and far above market expectations of USD 53.5 billion. Notice that Trump reduced the trade deficit with China from $418.95 billion to $345.2 billion. Please check your download folder. China’s trade balance in 2019 reached 2.92 trillion yuan (US$423 billion), a rise of 25.4 per cent from 2018, in yuan terms. However, the trade deficit from top partners rose from $848.52 billion to $864.24 billion. Between August 2019 and August 2020 the exports of China have decreased by $-8.32B (-4.41%) from $189B to $180B, while imports decreased by $-21.5B (-12.3%) from $175B to $153B. The trade balance is a major growth factor for an economy. The Trading Economics Application Programming Interface (API) provides direct access to our data. Mr. Ning Jizhe Meets with the Director of the United Nations Statistics Division On the morning of October 15, Mr. Ning Jizhe, Commissioner of the National Bureau of Statistics of China (NBS), met with Mr. Stefan Schweinfest, Director of the United Nations Statistics Division (...; Mr. Xian Zude Meets with the UN Resident Coordinator a.i. Until recently, Canada-China trade has only been reported using customs-based trade data, so called because it captures the movement of merchandise across the border. For the first nine months of the year, China’s trade surplus with the US totaled USD 218.57 billion. ... China trade talks hit stocks—Buffett, Cramer and other experts on what to watch. Balance Of Trade - BOT: The balance of trade (BOT) is the difference between a country's imports and its exports for a given time period. With the current positive balance of trade, China’s trade surplus is $600bn (also apparent in terms of trade—the percentage of China’s imports and exports data) with an increasing tendency over the last 5 years. If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. Compare this to 15 years ago, when trade with China was worth around a third of what it is today, at just over $230 billion. China… Please check your download folder. Trade Balance is seasonally adjusted, so trade flows can be properly estimated from season to season. China's trade surplus surged to USD 58.44 billion in October 2020 from USD 42.3 billion in the same month the previous year, and far above market expectations of USD 46 billion. China's trade surplus widened to USD 75.42 billion in November 2020 from USD 37.18 billion in the same month the previous year, and far above market expectations of USD 53.5 billion. That's an improvement of $73.75 billion. Looking at the latest U.S.-China trade numbers, one wonders how the agreement announced last week could lead to an acceptable balance of … Fast-forward to 2018, and the US’s … By 2018, it had increased to $418.9 billion, before falling to $345.2 billion in 2019. Publish your articles and forecasts in our website. External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). watch now. This page provides - Taiwan Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. According to Chinese statistics, The China trade balance and the United States was 2.45 billion U.S. dollars in 1979, and reached 42.84 billion U.S. dollars in 1996, with a cumulative total of 260.6 billion U.S. dollars in 18 years. China’s Trade Surplus Problem. U.S. goods and services trade with China totaled an estimated $634.8 billion in 2019. VIDEO 05:48. The biggest trade surpluses were recorded with the US, Hong Kong, the EU - in particular the Netherlands, the UK, Poland, Spain, Italy and Belgium - India, Vietnam, the Philippines, Singapore, the UAE, Pakistan, Turkey and Indonesia. 2019 is the key year. China has become the world's second largest economy by GDP (Nominal) and largest by GDP (PPP). China had a total export of 2,494,230,194.97 in thousands of US$ and total imports of 2,134,982,614.99 in thousands of US$ leading to a positive trade balance of 359,247,579.98 in thousands of US$ The Effectively Applied Tariff Weighted Average (customs duty) for China is 3.39% and the Most Favored Nation (MFN) Weighted Average tariff is 4.27%.The trade growth is 2.31% compared to a world growth … Considering the first ten months of the year, the trade surplus was USD 384.5 billion, as exports were up 0.5 percent from a year earlier to USD 2.05 trillion, while imports dropped 2.3 percent to USD 1.66 trillion. Data are in current U.S. dollars. China’s overall trade balance. Exports jumped by 11.4 percent while imports rose at a softer 4.7 percent. The U.S. trade deficit with China was $315.1 billion in 2012, rose to $367.3 billion by 2015 before dropping to $346.8 billion the next year. The country's trade surplus with the US narrowed to USD 30.75 billion in September from USD 34.24 billion in August. In 2019, China posted a trade surplus of USD 421.9 billion, the biggest since 2016, as exports increased 0.5 percent and imports fell 2.7 percent on weak domestic demand and trade tensions with the US. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. In 2018 China was the number 2 economy in the world in terms of GDP (current US$), the number 1 in total exports, the number 2 in total imports, and the number 30 most complex economy according to the Economic Complexity Index (ECI). China accounted for 4.4% of UK exports and 6.8% of all UK imports. Balance of Trade in Taiwan averaged 1726.75 USD Million from 1981 until 2020, reaching an all time high of 7463.31 USD Million in October of 2020 and a record low of -847.44 USD Million in February of 2006. China Trade Balance measures a change between exports and imports over a selected period, expressed in Chinese yuan. 'China developed a network of economic relations with both the industrial economies and those constituting the semi-periphery and periphery of the world system.' The United States had a services trade surplus of an estimated $36 billion with China in 2019, down 4.1% from 2018. Notice that Trump reduced the trade deficit with China from $418.95 billion to $345.2 billion. And China looks like it has the kind of external balance sheet needed to weather the corona virus shock. The country's trade surplus with the United States widened to USD 34.24 billion in August from USD 32.46 billion in July. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Looking at the latest U.S.-China trade numbers, one wonders how the agreement announced last week could lead to an acceptable balance of bilateral trade accounts. In fact, that trade deficit has been growing larger despite the sanctions (and retaliatory measures that were taken). Trump's trade war didn't really put a dent in China's balance of payments. Consider the trade balance, ... China’s trade surplus with the U.S. has grown almost 25% since the start of the Trump presidency, exceeding $300 billion on an annualized basis, The 12-month moving sum of the trade surplus decreased from October’s USD 425 billion to USD 421 billion in November, which marked the lowest value since January 2015. Exports will expand 4.5% in 2018, bringing the trade surplus to USD 470 billion. China’s global trade surplus swelled 6.6% over a year earlier to $37 billion but was down sharply from August’s $58.9 billion gap. UK exports to China were worth £30.7 billion; imports from China were £49.0 billion, resulting in a trade deficit of -£18.3 billion. Since 1989, China’s economy has roughly doubled every eight to ten years, surpassing the growth rates of the U.S., Europe, and most high income countries during the same time period. Download historical data for 20 million indicators using your browser. The largest deficits were recorded with Taiwan, Australia, South Korea, Brazil, Saudi Arabia, Japan, Germany, Switzerland, Malaysia, Oman, Chile and Russia. External balance on goods and services (formerly resource balance) equals exports of … The trade in goods balance between the EU Member States and China is shown in Table 1c. As China’s trade war with Australia shows, New Zealand must be careful to balance its own economic priorities Hongzhi Gao, Ivy Guo and Monica Ren 17:38, Dec 15 2020 Facebook China Trade Balance October 2020 China: Export growth hits 19-month high in October November 9, 2020 In October, exports expanded 11.4% over the same month in the previous year, following September’s 9.9% rise. Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. Switzerland thus became the first continental European country and the largest economy to conclude a free trade deal with China. That's an improvement of $73.75 billion. As a consequence of running a large trade surplus, China holds a vast amount of foreign exchange reserves. In 2018, China exported $2.59T and imported $1.61T, resulting in a positive trade balance of $977B. Exports were $163.0 billion; imports were $471.8 billion. The country's trade surplus with the US widened to USD 31.37 billion in October from USD 30.75 billion in September. The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. Since 1979, the United States has become China’s third-largest trading partner and second in 1996. The Trade Balance released by the General Administration of Customs of the People’s Republic of China is a balance between exports and imports of total goods and services. Since 1979, the United States has become … This was the largest trade surplus since at least 1981, as exports jumped to an all-time high amid improving global demand. Considering the first eleven months of the year, the trade surplus was USD 459.92 billion, as exports rose 2.5 percent and imports fell 1.6 percent. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. Economists use the indicator to evaluate the structure and intensity of trade flows between countries. China has a trade balance of $367 billion, which means that its overall exports are higher than its imports. The UK had a small surplus with China on trade in services, outweighed by a deficit on trade in goods. Exports rose by 9.5 percent, the fastest pace since March last year, while imports unexpectedly fell by 2.1 percent. ... Total trade Exports Imports Trade balance … In 2019, exports will rise 3.7%, pushing up the trade surplus to USD 492 billion. China trade balance, exports and imports by country 2018 In 2018, China major trading partner countries for exports were United States, Hong Kong, China, Japan, Korea, Rep. and Vietnam and for imports they were Korea, Rep., Japan, Other Asia, nes, United States and Germany. The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. Overview: In August 2020 China exported $180B and imported $153B, resulting in a positive trade balance of $27.2B. And the latest numbers from the Commerce Department show the monthly China trade deficit was $31.62 billion in July -- or $2.65 billion higher than it … According to Chinese statistics, The China trade balance and the United States was 2.45 billion U.S. dollars in 1979, and reached 42.84 billion U.S. dollars in 1996, with a cumulative total of 260.6 billion U.S. dollars in 18 years. China Balance of Trade Since 1995, China has been recording consistent trade surpluses which from 2004 to 2009 has increased 10 times. Trade Balance The U.S. goods trade deficit with China was $345.0 billion in 2019, a 17.6% decrease ($73.7 billion) from 2018. 2019 is the key year. China has become the world's second largest economy by GDP (Nominal) and largest by GDP (PPP). An overview about China’s most important trade partners and the trade value can be found here. As China’s trade war with Australia shows, New Zealand must be careful to balance its own economic priorities December 14, 2020 9.37pm EST. FDI Into China Rises 6.3% in Jan-November, China Could Make Targeted Policy Adjustment, China Industrial Output Rises the Most in 20 Months, China Fixed Asset Investment Growth Matches Estimates, China New Home Price Growth at Near 5-Year Low, British Stocks Gain as EU and UK Reach Deal. China’s headline Trade Balance (in USD terms) for November grew past- the $53.5B forecast and $58.44B previous readouts to $75.42 billion. stood at an all-time high US$75.42 billion in November, up 102.9 per cent from a year earlier and way above the US$58.44 billion rate in October. The data reached an all-time high of 75.4 USD bn in Nov 2020 and a record low of -62.1 USD bn in Feb 2020. China Trade Balance data is updated monthly, available from Jan 1981 to Nov 2020, with an averaged value of 2.2 USD bn. The country's trade surplus with the US widened to USD 37.42 billion in November from USD 31.37 billion in October. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Switzerland has a positive trade balance with China, and both countries are expected to profit from export guarantees, protection of intellectual property and financial cooperations between their largest banks. ... Total trade Exports Imports Trade balance … July import and export prices up 0.2%. 'China developed a network of economic relations with both the industrial economies and those constituting the semi-periphery and periphery of the world system.' It shows that three Member States had a trade surplus with China. China's trade surplus narrowed to USD 37.0 billion in September 2020 from USD 39.1 billion in the same month the previous year, the smallest since March and far below market expectations of USD 58 billion. However, details suggest that the Exports have grown from 12% expected to 21.1% YoY but the Imports eased to 4.5% versus 6.1%. More In Trade Balance. China’s trade surplus surged to US$75.42 billion last month, up 102.9 per cent from a year earlier and way above the US$58.44 billion rate in October, as export growth outstripped imports again. Direct access to our calendar releases and historical data.