Sep 3, 2010
China Import Numbers
China’s status as the world’s top exporter will never be challenged because of the affordable prices of the commodities and goods it exports. China, on the other hand, tilts its balance of trade to equilibrium by importing raw materials all over the world to support its awesome manufacturing industry. According to a website that lists information about trade relations between U.S. and China, Usually, China’s top imports (from the U.S.) include electrical machinery and equipment, oil seeds and oleaginous fruits, power generation equipment, air and spacecraft, plastics and other articles, optics and medical equipment and iron/steel (2008 data). On a worldwide level, China’s top imports include mineral and fuel oil, power generation equipment, ores and medical equipment. Statistics show that China utilizes the raw materials for its manufacturing sector and the finish products are exported later to developing countries. In the mean time, China is also active in importing medical and aircraft technology to address its rapid progress. A number of millionaires are sprouting like mushrooms in China’s society due to their participation in the nation’s trading business. According to these statistical offices, PRC National Bureau of Statistics, PRC General Administration of Customs, China’s Customs Statistics, the country’s import decreased by 16% compared to that of 2008. The worldwide recession caused a slowdown in production hence the decrease in the need to import.
It is important to review the import statistics of China if they want to open trade relations with the country. It can give an idea as to what products are still required by China. There are a lot of countries that trade with China, from its Asian-pacific neighbors like Australia, Japan, South Korea, Malaysia, India, Singapore, Hong Kong, to western countries like United States, and Germany. Statistics and numbers on China’s imports are readily available online. The web and some universities are the sources for statistics online. Another reliable source of statistical data on China’s balance of trade are trade associations. The other sources of statistical data are bank sites online and the chamber of commerce.
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