During the first five months of 2010, exports from the United States to China rose 38.9% to US$34.5 billion.
Chinese imports into America were up by 16.7% to $127.8 billion over that same period.
America’s overall trade deficit with China was $93.3 billion, up 10.3% from the $84.6-billion deficit as of May 2009.
Below are the top 10 export and import products that the two nations exchanged from January to May 2010.
Top US Exports to China
For the 5-month period ending May 2010, the following U.S. exports to China had the highest dollar values.
Each product’s harmonized tariff schedule (HTS) code is shown within brackets, as is the product’s percentage of total value of U.S. shipments to China.
- Soybeans … US$3.3 billion, up 6.6% from 2010 (9.6% of U.S. exports to China)
- Civilian aircraft including parts … $2 billion, up 14.6% (5.9%)
- Electric processors … $1.8 billion, up 61.9% (5.3%)
- Aluminum waste … $744.1 million, up 83.4% (2.2%)
- Computer parts and accessories… $402.1 million, up 16.3% (1.2%)
- Silicon … $312.2 million, up 133.4% (0.9%)
- Alloy steel waste excluding stainless … $300 million, up 34.3% (0.9%)
- Recovered paper waste … $262.8 million, up 23% (0.8%)
- Voice, image and data machines … $204.4 million, down 4.4% (0.6%)
- Programmable electronic memory circuits … $183.6 million, up 3.9% (0.5%).
Among the top 10 American exports to China, silicon showed the greatest increase, up 133.2% over 2008.
Silicon is used to make computer chips and transistors as well as being a key component of cement, concrete, glass and natural stone used in the construction industry.
Top US Imports from China
The following products were the top-selling products from China imported into the United States during the first 5 months of 2010:
- Laptop and notebook computers … US$11.4 billion, up 60.4% (8.9% of U.S. imports from China)
- Cell phones … $5.4 billion, up 24.9% (4.2%)
- Toys … $2.7 billion, up 53.7% (2.1%)
- Video games, parts and accessories … $2.6 billion, up 16.7% (2%)
- Voice, image and data machines .$2 billion, down 16.3% (1.5%)
- Computer monitors … $1.6 billion, up 16.3% (1.3%)
- Computer printed circuit assemblies … $1.5 billion, up 36.4% (1.2%)
- Digital computer processing unit … $1.4 billion, up 51.4% (1.1%)
- Flat panel color television screens … $1.34 billion, down 1.7% (1%)
- Computer parts and accessories … $1.3 billion, up 1% (1%).
Computer laptops and notebooks continue to be the fastest-growing products imported from China into the United States, followed by Chinese-made toys.
While smaller than those recorded by American exports, 8 of the top 10 Chinese products exported to the United States had sales had percentage gains from 1% to 60.4%.
Out of the 10 top U.S. exports to China, 9 showed percentage increases as of May 2010 compared to the first 5 months of 2009. Those gains ranged from 3.9% to 133.4%.
Based on these international trade statistics, one might expect America’s deficit with China to expand for full year 2010. The fact that so far this year U.S. exports to China are increasing at a faster pace than Chinese imports is encouraging, however.
See also Chinese Customs Duties on Consumer Products Imported into China.
Sources: This analysis presents independent calculations and insights based on the United States International Trade Commission’s Interactive Tariff and Trade Dataweb.
Daniel Workman - A senior business and finance writer who also does French translations, notably international trade and insurance materials.
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