China's Trade Profile: Top Imports & Exports (2023–2024)

China is the world's largest goods trader (~$5.9T total 2023). Its import/export structure reflects its role as "factory to the world" and a resource-hungry manufacturing colossus.

Top Imports (by Value, ~$2.6T)

1. Crude Oil: ~$330B. #1 global importer. Sources: Russia, Saudi, Iraq, Oman, Angola, Brazil.
2. Integrated Circuits (Semiconductors): ~$400B. #1 importer. Despite domestic push (SMIC, CXMT), still heavily reliant on Taiwan (TSMC), Korea, US, Japan for advanced nodes.
3. Iron Ore: ~$130B. #1 importer (1.1B tonnes). Australia (~60%), Brazil, South Africa.
4. Natural Gas (LNG + Pipeline): ~$80B. Growing fast. Russia (Power of Siberia), Turkmenistan, Qatar, Australia, US.
5. Soybeans: ~$60B. #1 importer (90M+ tonnes). Brazil (~70%), US (~25%). Animal feed → pork/poultry.
6. Copper Ore/Concentrate: ~$50B. Chile, Peru, DRC, Mongolia.
7. Medical/Pharma: ~$40B. COVID vaccines, biologics, APIs.
8. Autos & Parts: ~$40B. Luxury (Benz, BMW, Porsche), EVs, components.

Top Exports (by Value, ~$3.4T)

1. Electrical Machinery & Equipment: ~$800B. Phones (iPhone assembly), computers, telecom gear, components.
2. Machinery (Non-Electrical): ~$500B. Industrial robots, machine tools, construction equip, HVAC.
3. Furniture, Toys, Plastics, Textiles/Apparel: ~$400B combined. Still dominant despite rising labor costs.
4. Steel & Metal Products: ~$100B. #1 exporter. Overcapacity tensions.
5. Vehicles (EVs surging): ~$70B. BYD, Geely, SAIC, Tesla Shanghai export hub.
6. Medical/Surgical Instruments: ~$30B.

Structural Shift

Exports moving up value chain: "New Three" (EVs, lithium batteries, solar cells) grew 30%+ YoY 2023. Imports shifting from raw materials to high-tech (chips, lithography tools — ASML restricted).

Data: China Customs (GACC), UN Comtrade, IMF DOTS.