Many small countries have trade surplus with China.

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New Delhi: China is the second largest economy in the world. It exports the most in the world. For this reason, China is also called the factory of the world. Last year, China exported $3.594 trillion to the world. This is about 16 percent of the world’s total exports. Last year, China exported 47.4 percent to Asian countries, 20.7 percent to Europe and 19.9 percent to North America. Similarly, Latin America’s share in China’s exports is 4.8 percent, Africa’s 4.6 percent and Oceania’s share is 2.6 percent. If we talk about individual countries, then 16.2 percent of China’s total exports went to America. Last year, China sent goods worth $582.8 billion to the US. Many big countries including America and India are facing the problem of huge trade deficit with China. But there are some countries with which China is struggling with trade deficit. These also include small countries like Taiwan, Switzerland and Oman.

China’s top trading partners include the US followed by Hong Kong, Japan, South Korea, Vietnam, India, the Netherlands, Germany, Malaysia and Taiwan. But most of the countries of the world are facing the problem of trade deficit with China. India is also included in these. Last year, India’s trade deficit with China stood at around $101 billion. We bought goods worth $118 billion from China and exported only $17 billion to China. Similarly, America also bought goods worth $581 billion from China and in return sent goods worth only $177 billion to China. That is, its trade deficit with China is $ 403 billion.

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trade deficit countries

India’s share in China’s total trade is 3.3 per cent. In 2022, India’s imports from China increased by 21.5 percent. India and the US as well as Hong Kong ($289.7 billion), Holland ($105.2 billion), Mexico ($60.1 billion), UK ($59.7 billion), Vietnam ($59 billion), Singapore ($47.2 billion), The Philippines ($41.6 billion) and Poland ($33.1 billion) are among the top 10 countries with trade deficits with China. In the year 2022, China’s trade surplus was $ 877.6 billion, which is 27.9 percent more than in the year 2021.

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trade surplus countries

But many countries are in a position of trade surplus with China. That is, these countries import less from China and export more. Taiwan is at the top of this list. Last year its trade surplus with China stood at $156.5 billion. During this, it bought goods worth $81 billion from China and sent goods worth $238 billion to it. In this list Australia ($ 63.3 billion), Brazil ($ 47.6 billion), Switzerland ($ 42.2 billion), Saudi Arabia ($ 40.1 billion), Russia ($ 38 billion), South Korea ($ 37 billion), Oman (32 billion), Iraq ($25.4 billion) and Chile ($22 billion). These are the countries which are in a position of trade surplus with China.

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