Quick Answer: Who Is China’S Biggest Trading Partner?

Who is #1 trading partner?

List of the largest trading partners of the United StatesRankCountry/DistrictTrade Balance1China-375,5762Canada-17,0543Mexico-70,9534Japan-68,87629 more rows.

Which country has most traders?

Appendix B – The Number of Online Traders by European CountryRankCountryApprox. number of online traders1United Kingdom2800002Germany1500003Italy1500004France13000034 more rows

What would happen if we stopped buying from China?

If the rest of the world stopped buying from China today. The world economy would pretty much collapse. Everyone would scramble around trying to fix it. … Our supply chains are very entwined with China and it would take massive investment of time, money, talent, and resources to adapt to such a big change.

What are the top 3 Imports of China?

Searchable List of China’s Most Valuable Import ProductsRankChina’s Import Product2018 Value (US$)1Integrated circuits/microassemblies$312.7 billion2Crude oil$239.2 billion3Iron ores, concentrates$75 billion4Petroleum gases$50 billion93 more rows•May 5, 2020

What is America’s biggest import?

What Are the Major U.S. Imports?Machinery (including computers and hardware) – $386.4 billion.Electrical machinery – $367.1 billion.Vehicles and automobiles – $306.7 billion.Minerals, fuels, and oil – $241.4 billion.Pharmaceuticals – $116.3 billion.Medical equipment and supplies – $93.4 billion.More items…•

Where does the US get its oil?

The largest sources of U.S. imported oil were: Canada (49%), Mexico (7%), Saudi Arabia (6%), Russia (6%), and Colombia (4%). According to the American Petroleum Institute, the oil and natural gas industry supports nine million U.S. jobs and makes up seven percent of the nation’s gross domestic product.

Is China America’s biggest trading partner?

China, Canada and Mexico are the country’s largest trading partners, accounting for nearly $1.9 trillion worth of imports and exports. …

Are US companies leaving China?

According to the Nikkei Asian Review, US companies are leaving China. … In the case of HP and Dell, these companies are seeking to reallocate up to 30% of their China-based activity to other countries. Other firms that are among US companies that are seeking alternatives to China are Google, Sony, and Nintendo.

What percentage of American goods come from China?

U.S. goods imports from China totaled $539.5 billion in 2018, up 6.7% ($34.0 billion) from 2017, and up 59.7% from 2008. U.S. imports from are up 427% from 2001 (pre-WTO accession). U.S. imports from China account for 21.2% of overall U.S. imports in 2018.

What is US biggest export?

Top U.S. service exports Services are the biggest US export, with total foreign sales of $778 billion last year. Indeed, the United States has a $243 billion trade surplus in services, which is good news since service industries account for 71% of US jobs.

What is China’s trade partners?

2017. In 2017, 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.

Does China rely on the US?

The U.S. and China have been major trading partners for years, and they rely on each other’s supply chain for input into goods and services consumed within their borders.

Who buys the most from China?

China’s Top Trading PartnersUnited States: US$418.6 billion (16.8% of China’s total exports)Hong Kong: $279.6 billion (11.2%)Japan: $143.2 billion (5.7%)South Korea: $111 billion (4.4%)Vietnam: $98 billion (3.9%)Germany: $79.7 billion (3.2%)India: $74.9 billion (3%)Netherlands: $73.9 billion (3%)More items…•

What does the US get from China?

Its top three import product categories are the same for the U.S. overall: Machinery & Electrical, followed by Miscellaneous, then Textiles. From January to June 2020, these three categories made up a combined 50% of China’s exports to the U.S. and roughly 41% of overall U.S. imports.

How much of our goods come from China?

The US imports a lot of stuff from China. Over $560 billion worth of goods came into the US from China in 2018, making up more than 21% of the value of all goods the US imported. In May, the US threatened to add an additional 25% tariff on goods that account for $300 billion worth of annual imports.

Who is UK biggest trading partner?

Main points. The top five UK trading partners by total trade in goods, excluding unspecified goods in the first half (January to June) of 2020 were the United States (US), Germany, China, the Netherlands and France; they accounted for 46.0% of UK total trade in goods, excluding unspecified goods in this period.

Which country is the largest trading partner?

The trade gap between the countries has increased to USD 17.42 billion in 2019-20 from USD 16.86 billion in 2018-19, the data showed. The US remained India’s top trading partner for the second consecutive fiscal in 2019-20, which shows increasing economic ties between the two countries.

Who is USA’s biggest trading partner?

Year-to-Date Total TradeRankCountryTotal Trade—Total, All Countries3,420.1—Total, Top 15 Countries2,592.31China503.62Mexico488.813 more rows

Who is the biggest exporter in the world?

ChinaChina led the world in exports in 2019. China was followed by the United States, with exports valued at 1.64 trillion US dollars, and Germany, with exports valued at 1.49 trillion US dollars.

What is China’s biggest export?

The economy is considered to be relatively open if a country’s exports are around 15 percent or more of GDP. In 2019, China’s major export goods were automatic data processing machines and components, followed by clothes and clothing accessories, mobile phones, textiles, and integrated circuits.