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Chinas Imports And Exports Essay

571 words - 3 pages

Imports
As we all know Imports are goods or services brought into a country. China is second in overall Imports for the world Behind the US. EU is not counted in this ranking system because it is multiple countries. China's biggest import is Oil now. Some of the other exports are Industrial Supplies and Mechanical Machinery, optical and medical equipment, metal ores, plastics, and organic Chemicals. Chinas top five Import partners Are Japan (9.8%), South Korea (9.2%), America (7.1%), Germany (5.1%), and Australia (4.3%). Again if we were including the EU it would be at the top at 12.1% but because it is multiple counties and we are focusing on single countries these are the top 5. China's imports total up to about $1.753 Trillion Dollars according to the CIA fact ...view middle of the document...

China became the largest exporter in the world in 2010. However if you were to count the European Union it would be above China. A reason for china being ranked number one on the export list is because labor is so cheap in China that more businesses worldwide want to move their operations there because it cost less and they can produce more for the peoples Demands. However this also poses as a problem because many of China's workers are not happy with the amount of pay for the amount of work they do. China is the fastest growing export countries and its exports have went up by 42.9% since 2008. China's largest export to the world is Electronic Equipment. China is also know for exporting Data Processing Equipment, Apparel, Textiles, Iron and Steel, and Optical and Medical Equipment. China's biggest exporters by country are the United States (17.2%), Hong Kong (15.8%), Japan (4.8%), and South Korea (4.3%). (CIA FACTBOOK) Excluding EU again. Chinas exports total up to around $2.057 Trillion in 2012 according to the CIA fact book.

Exports-Imports
Net Exports- $322 Billion

Trading Partners
China has recently past the U.S. as the largest trading nation. China in 2012 stood as the second-largest economy in the world after the US, having surpassed Japan in 2001. Here on the slideshow i have a chart showing the four largest trading partners with China. In order they are The European Union, United States, Japan, and Hong Kong. Trade balance is the difference in value over a period of time of a countries imports and exports of merchandise. A nations balance of trade is favorable when its exports exceed its imports. "If you notice on the chart China is in a positive trade balance with EU, United States, and Hong Kong. However they are in a negative trade balance with Japan.

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