Comparing between the shares of global total exports
and imports of United States, Germany, China, Japan,
France and United Kingdom between the periods of
1985-2007, USA has the highest amount of shares
relative to others. USA’s shares peaked in the year
2000 with 34.5% of shares in global imports and
exports. During that year, China has only 7.6%.
However, that year also marks a reversal of trend
where the shares of USA are on decline to 22.6% in
the year 2007. On the other hand, China’s shares in
the global total exports and imports have been
surging rapidly from 3.5% in 1985 to 15.5% in 2007.
China’s large pool of manpower and low cost of labor
have provided the comparative advantage for this
upcoming trend. China has already overtaken Japan,
France and UK. It would not be surprising when China
would be able to overtake USA and Germany in times
to come.
Below is the chart of export and import's shares of United States, Germany,
China, Japan, France and United Kingdom amongst global total exports and imports from year 1985 - 2008:
Comparing with the rest of the countries- Netherlands, Italy, Canada, South
Korea, Spain, Russia and India, it can be seen from the below graph the obvious
disparity between China and the above-mentioned countries. In 2007, the shares
of China in global total exports and imports reached 15.5%, while the highest
among the countries (which is Netherlands) is 7.4%. Moreover, the countries’
shares in the global total exports and imports remain constant with little
fluctuations, with the exception of Canada- reflecting a downward trend between
years 2000-2007. This data has revealed the growing importance of China in the
global economy. Having significant amount of shares in the global import and
export industries would imply that any changes in China’s policies, economy and
environment would have an impact on the rest of the world. This impact would be
even greater when the shares of China gain a larger proportion in the future.
Below is the chart of export and import's shares of China amongst global
total exports and imports in comparison with that of Netherlands, Italy, Canada,
South Korea, Spain, Russia and India from year 1985- 2008:
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