What Does China's Electronic Market Shut Down Means For Global Trade?
26 September 2022
China’s biggest electronic market, Shenzhen, has been
shut down due to the COVID-19 curbing measures and lockdown procedures. The
Chinese government has shut down the market, resulting in a halt state of the
imports and exports of electronics in China. Electronics are the highest traded
commodities in China since ever. The imports and exports of electronic products
by China rank the highest among all other countries. They are also the highest
traded commodities in China among all other commodities.
China’s
Electronic Trade – Historical & Comparison
The imports and exports of China in 2021 have been the
highest so far. The imports in 2021 amounted to $668.65 billion, whereas, the
exports in 2021 amounted to $898.95 billion. As can be seen from the trade data
of China below, the exports have higher values than the imports.
|
China's Electronics
Trade – Imports & Exports Comparison |
||
|
Year |
Import (Value USD Billion) |
Export (Value USD Billion) |
|
2017 |
455.49 |
598.97 |
|
2018 |
521.54 |
664.42 |
|
2019 |
497.41 |
670.44 |
|
2020 |
548.42 |
709.93 |
|
2021 |
668.65 |
898.95 |
Top Exported
Electronic Items (2021)
According to China exports 2021, the top electronic
commodities exported from China are—phones, integrated circuits, light emitting
diodes, monitors & projectors, static converters, electric accumulators,
heaters, electric conductors, machines, and switches & plugs.
|
China's Electronics
Exports – By Kind (2021) |
|
|
Commodity |
Value USD Billion |
|
Telephones & Mobile Phones |
257.64 |
|
Electronic Integrated Circuits |
155.30 |
|
Light Emitting Diodes |
48.79 |
|
Monitors and Projectors |
39.95 |
|
Electrical Transformers, Static
Converters |
39.66 |
|
Electric Accumulators &
Parts |
33.61 |
|
Storage Water and Immersion
Heaters (hair curlers, hand dryer, etc.) |
32.17 |
|
Insulated Electric Conductors |
29.50 |
|
Electrical Machines &
Apparatus |
24.32 |
|
Switches, Fuses, Plugs, Sockets,
etc. |
22.76 |
Top Export
Partners For Electronic (2021)
According to China export data 2021 below, the top
export partners for China’s electronics are—Hong Kong (21.8%), the US (15%),
South Korea (5.3%), Vietnam (5.2%), Japan (4.2%), Taipei (3.9%), the
Netherlands (3.9%), Germany (3%), India (2.9%), and Malaysia (2.5%).
|
China's Electronics
Top Export Partners (2021) |
|
|
Country |
Value USD % |
|
Hong Kong |
21.8 |
|
United States of America |
15 |
|
South Korea |
5.3 |
|
Vietnam |
5.2 |
|
Japan |
4.2 |
|
Taipei, Chinese |
3.9 |
|
Netherlands |
3.9 |
|
Germany |
3 |
|
India |
2.9 |
|
Malaysia |
2.5 |
China’s
Shenzhen Exports – Monthly Trend
China’s Shenzhen city is one of the busiest markets in
China for electronics and is regarded as one of the biggest electronics hubs in
the world, contributing to 90% of the world’s electronics. The shown China’s
export data 2022 covers the exports from Shenzhen accounted for so far.
|
China's Shenzhen
Exports (Jan-Jun'22) |
|
|
Month |
Value USD % |
|
January |
56.42 |
|
February |
32.03 |
|
March |
4.02 |
|
April |
3.47 |
|
May |
2.32 |
|
June |
1.75 |
The values decreased gradually by June, while January
accounted for the highest share value of total exports in 2022 so far. As
revealed in our trade intelligence platform online, the exports of Shenzhen
accounted for near about $2 billion worth of exports for electronics in 2021.
Due to the shutdown, the electronic market exporting
worth about $2 billion of commodities to the world will create ripples in the
prices of electronic items in other parts of the world such as Vietnam and
India as these two countries are top destinations for Shenzhen exports.
