8/15/2023 0 Comments Biggest export from us to china“If you take a look at all commodities together, China accounts for about 40 percent of our scrap exports in recent years.” “As China’s economy has evolved and their industrial output has taken off, we’ve seen a voracious appetite from China for commodities demand in general, and that’s spilled over to scrap as well,” says Joe Pickard, chief economist at the Institute of Scrap Recycling Industries in Washington, DC. Scrap includes a wide range of commodities including metals, paper, and plastics. US companies exported $9.5 billion of scrap last year, the two biggest of which were copper materials ($3 billion) and aluminum materials ($2.4 billion). China’s growing economy results in higher scrap demandĪnother huge industry for US exporters is recycled scrap materials. “It’s a situation that’s really overdue for resolution,” Schuele says. In 2010, China’s beef imports from other countries increased 85 percent from 2009, and were four times higher than total imports in 2005, according to the US Meat Export Federation. “That issue has taken on some greater urgency lately … and we’re still shut out of that market. “Back at that time, China was not much of a beef importer,” says Joe Schuele, communications director at the US Meat Export Federation in Denver, Colo. In 2003, China banned imports because of concerns over bovine spongiform encephalopathy (BSE)-or mad cow disease-which broke out that year. However, certain US products are still blocked in China, one of the biggest of which is beef exports. And there is room for growth: As of 2011, China’s meat consumption was only about half of that in the United States and below many other Asian countries, according to the report. In addition, the United States also exports a large amount of cotton ($3.4 billion), corn ($1.3 billion), and animal hides and skins ($827 million).Ĭhina already consumes about half of the world’s pork and cotton and about one-quarter of the world’s corn, according to a report prepared by the Knowledge Exchange Division of CoBank, a Colorado-based cooperative bank. Soybeans are used in a range of products including cooking oil and as animal feed. US soybean exports to China totaled almost $15 billion in 2012-up $4.5 billion from a year earlier. (USCBC is the publisher of the China Business Review.) About one-fifth of US exports to China consist of agricultural products, including soybeans, which are by far the United States’ largest single export to China. ![]() In 2012, the United States exported almost $109 billion worth of goods to China, up about 6.5 percent from a year earlier when exports to China broke the $100 billion mark for the first time, according to the US-China Business Council’s annual state exports report. Source: US Census Bureau Soybeans remain top export to China ![]() Electronic integrated circuits: $1.7 billion Passenger vehicles (large engines): $2.2 billionĨ. ![]() ![]() Passenger vehicles (small engines): $3 billionħ. Most of the United States’ largest exports to China consist of crops or raw materials, but other higher-value products like vehicles and aircraft are also growing.ĥ. Soybeans remain the largest export, but shipments of higher-value products like vehicles and airplanes are also growing.īy Ben BadenMeasured in bulk, the United States’ top exports to China last year were agricultural products, transportation equipment, computers and electronics, chemicals, and machinery, but a deeper dive into specific products reveals a lot about America’s trade relationship with China.
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