USA has the highest amount of shares of global total
imports. However, in 2000, there is a reversal of
trend. US shares have been on a decline from 21.9%
in 2000 to 14.2% in 20007. Conversely, China’s
shares of global total imports have been gradually
increasing from 3.6% in 2000 to 6.7% in 2007. At
this current rate, China would soon be able to pass
Germany’s shares which are currently standing at
7.5%. This trend is expected to continue while China
continues to globalize as more than half of the
imports to China are raw materials used to produce
goods for domestic consumption and exports.
Below is the chart of export and import's shares of United States, Germany,
China, Japan, France and United Kingdom amongst global total imports from year 1985 - 2011:
Comparing with Netherlands, Italy, Canada, South Korea, Russia and India from
year 1985- 2007, China has way surpassed the above-mentioned countries. The rate
at which shares of global total imports has been growing exponentially since
1985 relative to the other countries. Currently, none of the countries has this
rate of growth that is comparable of that to China. The rise in imports is also
largely attributed to government efforts in continuous promoting international
trade, especially after China joined the World Trade Organization.
Below is the chart of export and import's shares of China amongst global
total imports in comparison with that of Netherlands, Italy, Canada,
South Korea, Russia and India from year 1985- 2011:
Related topics:
