u.s. - china statistics some observations

U.S. - China StatisticsU.S. - China StatisticsSome ObservationsSome Observations

Dr. Andrew L. H. ParkesDr. Andrew L. H. Parkes““Business Economics II”Business Economics II”

卜安吉卜安吉

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Table 1: Trends in ExportsTable 1: Trends in Exports

U.S. export U.S. export growth to growth to China was China was dropping dropping in 2007, in 2007, before the before the financial financial crisis crisis began.began.

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Exports From ChinaExports From China

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Table 1 continuedTable 1 continued

With the exception of 2009, the trade surplus with America became larger.

Overall U.S.-China Trade Balance

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Table 1 continuedTable 1 continued

At the end of 2010, the U.S.-China trade deficit was $273.1 billion

Or to look at it from the U.S. side, the trade deficit became larger

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Table 2: Top ExportsTable 2: Top Exports Electrical Machinery and

Equipment

Power Generation Equipment

Oil Seeds and oleaginous fruits -

Cooking Oils

Note Aircraft and Spacecraft will most likely become very

small soon. Also note the increase in “Vehicle” Export

growth to China at 134%!

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Table 2: Top ExportsTable 2: Top Exports

Boeing for how long?

787 below

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Table 3: Top U.S. ImportsTable 3: Top U.S. Imports

Electrical

Machinery and

Equipment

Power

Generation

EquipmentFuan Topower Electrical Machiney CO.,LTD.

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Table 3: Top U.S. ImportsTable 3: Top U.S. Imports

Electrical

Machinery and

Equipment

Power

Generation

Equipment

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Table 3: Top U.S. ImportsTable 3: Top U.S. Imports

Apparel (Significantly Less, yet still growing)

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Table 3: Top U.S. ImportsTable 3: Top U.S. Imports

• Toys, games, and sports

equipment

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Table 3: Top U.S. ImportsTable 3: Top U.S. Imports

• Furniture

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Table 4: China’s World Table 4: China’s World TradeTrade

Import growth

recently was

greater than

export growth

> % change

(latest 3 years)

A Significant Trade Surplus yet falling

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China’s World TradeChina’s World Trade

In examining China’s import growth, let’s In examining China’s import growth, let’s notice the fact that oil was up 100% (not notice the fact that oil was up 100% (not from demand, from demand, pricesprices are up 100% from last are up 100% from last December), iron ore is up 42%, copper is up December), iron ore is up 42%, copper is up 63% (63% (the price of copper is up 274%the price of copper is up 274%) and ) and aluminum is up 164% - aluminum is up 164% - did quantity did quantity demanded change, just the prices or both??demanded change, just the prices or both??

– – A note to remember from 2009 as oil prices again are over $100!A note to remember from 2009 as oil prices again are over $100!

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Table 5: China’s Top ExportsTable 5: China’s Top Exports

To the World - the same top three as to

America

Notice the growth rates of 3 categories:

Iron & Steel, Ships & Boats, Vehicles

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Shipbuilding in ChinaShipbuilding in China

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Table 6: China’s Top Table 6: China’s Top ImportsImports

Raw materials

Ores, slag and

ash – for

production

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Table 6: China’s Top Table 6: China’s Top ImportsImports

Chemicals, copper, iron and

steel

Also medical equipment and

optics

growth rates are high!

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China’s Raw Materials China’s Raw Materials ImportsImports

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Table 7: Trade PartnersTable 7: Trade Partners

U.S. is top, however the

growth is least and

Europe is NOT a

country (yet!)

The European 27 (EU) is bigger than the U.S., however.

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Table 7: Trade PartnersTable 7: Trade Partners

Greatest growth in Australia,

Brazil, Malaysia and India,

which makes sense yet still

significantly less in the volume

of trade

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Table 7: China’s Trade Table 7: China’s Trade PartnersPartners

Exports to ASEAN in

January and February,

2010 totaled 18.69

billion U.S. dollars, a

year-on–year increase of

52.9%, far faster than

that to the United States

and the European Union

in the same period.

Note the diversification in China’s Trade

Reported by China International Capital Corporation

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Table 8: Export DestinationsTable 8: Export Destinations

U.S. is top as expected

Hong Kong usually tends to be an intermediate destination for further export

Of course much of HK – China trade is mutually beneficial … to each other.

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Table 8: Export DestinationsTable 8: Export Destinations

Japan comes in lower but still significant

Europe as a group is large with Germany and the Dutch being strong economies but Italy at over 50% growth!

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Table 9: Import SuppliersTable 9: Import Suppliers

Japan, South Korea, and Taiwan lead

U.S. is also significant and growing well

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Table 9: Import SuppliersTable 9: Import Suppliers

Again the countries that pop out: Australia and Malaysia with over 50% growth rates!

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Growth in World Trade and GDP, Growth in World Trade and GDP, 2000-112000-11

a  Figures for 2011 are projections, Source: WTO Secretariat.a  Figures for 2011 are projections, Source: WTO Secretariat. Annual % changeAnnual % change

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Volume of world exports 1990-Volume of world exports 1990-20112011

1990=100 – Base Year for the Index1990=100 – Base Year for the Index