USA Goods and Services Exports to China

Exports to China increased by 18 per cent in 2020, while exports to the rest of the world fell by 15 per cent. The disparity in exports is the result of China’s early recovery from the pandemic-induced economic slowdown.

China remained the United States’ third-largest goods export market in 2020.
On average, USA Export Data shows US goods exports to China have been growing by 2.4 percent per year for the last decade, which is faster than the rest of the United States’ top goods markets.

As in 2019, the European Union, Taiwan, Japan, and South Korea all continued to export more goods to China than the United States in 2020.
While the EU was the only top import source to see an increase in 2019, it was also the only top import source to see a decrease in 2020. Imports from Taiwan, the United States, and Japan increased 16, 10, and 2 percent, respectively, while imports from South Korea stayed the same.

Most states exported more goods to China in 2020 than in 2019

Of the 35 states that exported more to China in 2020 than the year prior, nine saw exports increase by quite $1 billion and another 19 saw goods exports increase by quite $100 million. China was the highest goods export marketplace for four states—Alaska, Alabama, South Dakota, and Oregon—in 2020, up from only two in 2019.

Oil and gas exports rebounded in Texas (+$6.1 billion) and Louisiana (+$1.8 billion).

USA Import Export Data shows US states exported over $18 billion more in goods to China in 2020 than in 2019, and Texas alone accounted for a 3rd of that increase. the many jumps in Texas’s exports to China were powered by oil and gas exports—the state shipped around $6.3 billion in oil and gas products, nearly $4 billion quite the year before.

Contact Person:- Deepak Pant

Phone No:- +91-9560057267

Email:- info@usaimportdata.com

Website:- https://www.usaimportdata.com/

Address:- A/57, 1st Floor, Om Vihar Phase 1, Uttam Nagar Delhi-110059, India

For More Article:-