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China has become the world's second largest economy by GDP (Nominal) and largest by GDP (PPP). 'China developed a network of economic relations with both industrial economies and those constituting the semi-periphery and periphery of the world system.' [1] Due to the rapid growth of China's economy, the nation has developed many trading partners throughout the world.
World map by trade as a share of GDP. [1]This is the list of countries by trade-to-GDP ratio, i.e. the sum of exports and imports of goods and services, divided by gross domestic product, expressed as a percentage, based on the data published by World Bank.
In 2020, China signed major free trade agreements with the European Union as well as fifteen different Asia-Pacific countries. [12]: 259 As of at least 2023, China is the world's largest exporter, a status it has maintained continuously since 2010. [13]: 88 Effective 1 December 2024, China eliminated tariffs for goods imported from all of the ...
The exact impact on China’s annual economic growth in 2023 was not given. Officials said further details would be released later. The economy grew at a 5.2% annual pace in 2023, according to the ...
2023 Imports 2023 Trade balance 2023 Exports 2023 Imports 2023 Trade balance 2023 Exports Year Imports Year Trade balance Year (millions USD) (millions USD) (millions USD) (millions USD) (millions USD) (millions USD) (millions USD) (millions USD) (millions USD) WORLD: 23 783 588.96: 24 234 678.07: −451 089.11: 23 783 494.36: 24 234 634.93 ...
2023 Petroleum Hong Kong: 673,305 2023 Integrated circuits Switzerland: 661,627 2023 Gold Mexico: 649,312 2023 Cars Spain: 615,829 2023 Cars Taiwan: 536,128 2022 [4] Integrated circuits Belgium: 535,173 2023 Serums and vaccines Poland: 469,264 2023 Car parts Russia: 465,432 2023 Petroleum Australia: 447,506 2023 Iron ore Brazil: 389,625 2023
Even after the agreement, the average U.S. tariff on China imports remained at about 19.3%, more than six times its level of 3% before Trump launched the tariff war.
China implemented economic reform in 1978, and from 1979 to 2023, the country's GDP growth rate grew by an average of 8.93% per year in the 45 years since its implementing economic reform. According to preliminary data released by the authorities, China's GDP in 2023 was CN¥126.06 trillion (US$ 17.89 trillion) [ 33 ] with a real GDP increase ...