Annual growth rate of imported goods in China 2013-2023

In 2023, goods imports to China decreased by about 0.3 percent compared to the previous year (based on yuan value). Resulting from a difficult global economic environment and the high base of total imports during the pandemic, China's international trade saw only slow growth that year.

Goods import to China

In 2023, China’s total international trade value reached 41.8 trillion yuan, comprised of 23.8 trillion yuan merchandise export value and 18 trillion yuan import value. Imports accounted for nearly 14.3 percent of the gross domestic product (GDP) that year.

China is the world’s second largest merchandise importer after the United States. Among the country’s major import goods are integrated circuits, crude oil, iron ore, plastics in primary forms, and motor vehicles.

The ASEAN was the major region exporting to China in 2023, accounting for over 15 percent of China’s total imports. The European Union was China's second largest import origin that year. In addition, China's closest neighbors – South Korea, Taiwan, and Japan – each covered six to eight percent of the total import value.

Import growth

China's merchandise imports were stalled as a result of the difficult global economic environment in 2023. Guangdong province was China's largest import destination that year, followed by Shanghai municipality and Jiangsu province. As for trade partners, China has increased its imports of merchandise from Russia significantly since 2022. In 2023, China imported more than 909.3 billion yuan of products from Russia, nearly 18.6 percent more than the year prior.