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The People's Republic of China

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U.S.-China Trade Facts

U.S. goods and services trade with China totaled an estimated $659.4 billion in 2015. Exports were $161.6 billion; imports were $497.8 billion. The U.S. goods and services trade deficit with China was $336.2 billion in 2015.

China is currently our largest goods trading partner with $598 billion in total (two way) goods trade during 2015. Goods exports totaled $116 billion; goods imports totaled $482 billion. The U.S. goods trade deficit with China was $366 billion in 2015.

Trade in services with China (exports and imports) totaled an estimated $61.3 billion in 2015. Services exports were $45.4 billion; services imports were $15.9 billion. The U.S. services trade surplus with China was $29.5 billion in 2015.

According to the Department of Commerce, U.S. exports of goods and services to China supported an estimated 251 thousand jobs in 2014 (latest data available) (678 thousand supported by goods exports and 273 thousand supported by services exports).

Exports

  • China was the United States' 3rd largest goods export market in 2015.
     
  • U.S. goods exports to China in 2015 were $116 billion, down 6.1% ($7.5 billion) from 2014 but up 182% from 2005. U.S. exports to China are up 506% from 2001 (pre-WTO accession). U.S. exports to China account for 7.7% of overall U.S. exports in 2015.
     
  • The top export categories (2-digit HS) in 2015 were: aircraft ($15 billion), electrical machinery ($13 billion), machinery ($12 billion), miscellaneous grain, seeds, fruit (soybeans) ($11 billion), and vehicles ($11 billion).
     
  • U.S. exports of agricultural products to China totaled $20 billion in 2015, our 2nd largest agricultural export market. Leading categories include: soybeans ($11 billion), coarse grains (ex. corn) ($2.1 billion), distillers grains ($1.6 billion), hides & skins ($1.3 billion), and cotton ($870 million).
     
  • U.S. exports of services to China were an estimated $45.4 billion in 2015, 7.0% ($3.0 billion) more than 2014, and 422% greater than 2005 levels. It was up roughly 791% from 2001 (pre-WTO accession). Based on 2014, leading services exports from the U.S. to China were in the travel, intellectual property (industrial processes), and transportation sectors.

Imports

  • China was the United States' largest supplier of goods imports in 2015.
     
  • U.S. goods imports from China totaled $482 billion in 2015, up 3.2% ($15 billion) from 2014, and up 98% from 2005. U.S. imports from are up 382% from 2000 (pre-WTO accession).
     
  • The top import categories (2-digit HS) in 2015 were: electrical machinery ($133 billion), machinery ($104 billion), furniture and bedding ($28 billion), toys and sports equipment ($24 billion), and footwear ($17 billion).
     
  • U.S. imports of agricultural products from China totaled $4.4 billion in 2015, our 3rd largest supplier of agricultural imports. Leading categories include: processed fruit & vegetables ($1.0 billion), fruit & vegetable juices ($321 million), snack foods ($208 million), fresh vegetables ($178 million), and spices ($159 million).
     
  • U.S. imports of services from China were an estimated $15.9 billion in 2015, 10.5% ($1.5 billion) more than 2014, and 132% greater than 2005 levels. It was up roughly 396% from 2001 (pre-WTO accession). Based on 2014, leading services imports from China to the U.S. were in the transportation, travel, and research and development sectors.

Trade Balance

  • The U.S. goods trade deficit with China was $366 billion in 2015, a 6.6% increase ($23 billion) over 2014.
     
  • The United States has a services trade surplus of an estimated $30 billion with China in 2015, up 5.2% from 2014.

Investment

  • U.S. foreign direct investment (FDI) in China (stock) was $65.8 billion in 2014 (latest data available), a 9.8% increase from 2013. U.S. direct investment in China is led by manufacturing, wholesale trade, and depository institutions.
     
  • China's FDI in the United States (stock) was $9.5 billion in 2014 (latest data available), up 12.0% from 2013. China's direct investment in the U.S. is led by depository institutions, manufacturing, and information services.
     
  • Sales of services in China by majority U.S.-owned affiliates were $43.3 billion in 2013 (latest data available), while sales of services in the United States by majority China-owned firms were $4.4 billion.