China

China ranked No. 3 in total trade value through August with a total of $332.25 billion. Exports totaled $69.56 billion and Imports totaled $262.68 billion, a deficit of $193.12 billion.

U.S. trade with China rose to $332.25 billion through August

China’s trade with the United States rose to $332.25 billion through the first eight months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 10.66 percent below its total trade during the same time period last year. U.S. exports to China decreased 0.86 percent while U.S. imports from China fell 12.94 percent. The U.S. deficit with China was $193.12 billion.

Through August, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Los Angeles; No. 2 Chicago O’Hare International Airport; No. 3 Port of Long Beach; No. 4 Los Angeles International Airport; and No. 5 Port of Newark. During the same period the previous year, the top five were No. 1 Port of Los Angeles; No. 2 Chicago O’Hare International Airport; No. 3 Port of Long Beach; No. 4 Port of Newark and No. 5 Los Angeles International Airport. In the current time period, the top five accounted for 54.54 percent of China’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Los Angeles fell 20.58 percent to $69.15 billion.
    Exports fell 14.25 percent to $4.03 billion. Imports fell 20.94 percent to $65.12 billion.
  • Trade with No. 2 Chicago O’Hare International Airport rose 9.07 percent to $44.48 billion.
    Exports rose 13.38 percent to $6.05 billion. Imports rose 8.43 percent to $38.42 billion.
  • Trade with No. 3 Port of Long Beach fell 0.66 percent to $25.77 billion.
    Exports rose 21.22 percent to $4.87 billion. Imports fell 4.67 percent to $20.9 billion.
  • Trade with No. 4 Los Angeles International Airport rose 22 percent to $24.9 billion.
    Exports rose 5.47 percent to $5.89 billion. Imports rose 28.22 percent to $19.01 billion.
  • Trade with No. 5 Port of Newark fell 22.25 percent to $16.93 billion.
    Exports fell 13.2 percent to $451 million. Imports fell 22.47 percent to $16.48 billion.

China ranked No. 3 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 3.

Meanwhile, total U.S. trade with the world increased to $2.4 trillion, down 13.21 percent compared to the same period last year. The nation’s exports dropped 16.18 percent to $917.89 billion; imports dropped 11.26 percent to $1.48 trillion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $564.57 billion, down compared to the same period of last year when the deficit was $575.47 billion.

The top five U.S. exports to China by value through August were the categories of Computer chips; Oil; Passenger vehicles; Machinery, parts for semiconductor manufacturing; and Civilian aircraft, parts, respectively. They accounted for 27.54 percent of total exports to China.

The value of the top five categories of U.S. imports from China –– Computers; Cell phones, related equipment; Misc. articles made from textile materials; Toys, children’s bicycles, games; and TVs, computer monitors –– accounted for 31.46 percent of all inbound shipments.

Looking more closely at U.S. exports to China:

  • Computer chips rose 23.72 percent compared to last year to $6.63 billion.
  • Oil rose 48.28 percent compared to last year to $3.55 billion.
  • Passenger vehicles fell 28.23 percent compared to last year to $3.22 billion.
  • Machinery, parts for semiconductor manufacturing rose 32.32 percent compared to last year to $3.12 billion.
  • Civilian aircraft, parts fell 64.95 percent compared to last year to $2.64 billion.

Looking more closely at U.S. imports from China:

  • Computers rose 2.57 percent compared to last year to $30.79 billion.
  • Cell phones, related equipment fell 12.29 percent compared to last year to $28.94 billion.
  • Misc. articles made from textile materials rose 409.09 percent compared to last year to $12.69 billion.
  • Toys, children’s bicycles, games fell 22.43 percent compared to last year to $5.3 billion.
  • TVs, computer monitors fell 40.62 percent compared to last year to $4.92 billion.

In the latest annual figures available, China recorded $555.25 billion in trade with the United States. Total U.S. exports to China were $ 106.63 billion and imports from China were $448.62 billion. The U.S. deficit with China was $342 billion.