The proportion of imports has increased the most, China Import Development Report: China has been the world’s second largest importer of goods for 14 consecutive years
The 6th China International Import Expo opens today. Recently, the "2023 China Import Development Report" jointly compiled by the School of Economics and Business Administration of Beijing Normal University and the China Academy of Education and Social Development was released in Beijing. This report has been released for six consecutive years since the first CIIE.
As China's first comprehensive report on import trade, the "2023 China Import Development Report" points out that since joining the World Trade Organization, the overall scale of China's imports of goods has shown a trend of rapid growth, becoming the world's second largest importing country for 14 consecutive years. .
Data show that between 2001 and 2022, China's import scale increased from US$243.553 billion in 2001 to US$2.715999 billion in 2022. In 2022, China's import scale will be approximately 11 times that of 2001, with an average annual growth rate of 12.17%, which is higher than the average annual growth rate of 6.83% in global goods imports during the same period.
As of 2022, China's position in global import trade has increased significantly. The "Report" shows that China's imports account for an overall proportion of world import trade that continues to rise. In 2001, China's imports accounted for only 3.8% of the world's import trade. In 2022, China's imports accounted for 10.58% of the world's import trade.
Compared with major countries and regions in the world, since 2001, China's imports have accounted for the largest increase in the proportion of world import trade, 6 percentage points higher than South Korea, while the imports of developed countries and regions such as the United States and the European Union have increased their proportion of world import trade. decline.
As a result, the gap between China's share of total world imports and the share of the EU and the United States has narrowed significantly. In 2001, China's share of total world imports was 29.6 percentage points lower than that of the EU and 14.6 percentage points lower than that of the United States. In 2022, China's share of total world imports was 18.5 percentage points lower than that of the EU and 2.6 percentage points lower than that of the United States.
In the past 20 years, the diversification trend of China's import market has become more obvious. The "Report" shows that in 2001, the total import value of China's top ten import sources was US$167.632 billion, accounting for 68.83% of China's total imports; in 2022, the total import value of China's top ten import sources was US$14762.13 billion, accounting for 54.35% of China's total imports, a decrease of 14.48 percentage points from 2001.
With the changes in the world economic structure, developing countries and regions have gradually become important sources of imports for China. In 2022, among China's top ten import sources, China's Taiwan, Russia, Malaysia, Brazil and Vietnam will rank among China's top ten import sources, and the total import value will account for 20.91% of China's total imports from 2001 to 2022. 24.29% in 2018, an increase of 3.38 percentage points.
The "Report" stated that currently, China is the largest export market in 44 countries and regions, and the top five export markets in 104 countries and regions.
