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Data InsightsTrade plays a much smaller role in China's economy than it did a few decades ago

Trade plays a much smaller role in China's economy than it did a few decades ago

The graph illustrates the trend of trade as a percentage of GDP for China, the United States, and Germany from 1970 to 2023. 

China's trade as a share of GDP, represented by a thick brown line, starts at around 5% in 1970, increases steadily to approximately 64% around 2010, and then declines to 37% by 2023. 

In contrast, the United States, shown with a thin gray line, exhibits a more stable trend, beginning below 20% in 1970 and rising slightly to around 30% in 2023. 

Germany's trade as a share of GDP follows a varying path, starting near 45% in 1970, climbing to nearly 80% by 2023, and showing notable fluctuations throughout. 

Key data sources for this information include the World Bank and OECD, with a projected update scheduled for 2025. The visualization is licensed under CC BY.

Global trade has never been a bigger slice of the world economy. However, China, the country that most people think of as the export giant, has seen a decline in its trade-to-GDP ratio in the last 15 years.

The chart shows China’s trade in goods and services as a share of its Gross Domestic Product (GDP). In 1970, it was just 5%. Following Deng Xiaoping's economic reforms, which opened China to market forces and international trade, this figure soared to 64% in 2006. But since then, it has fallen considerably, reaching 37% in 2023. China's exports have grown in dollar terms, but its economy has expanded even faster, making trade a shrinking share of the whole.

While the 2008 financial crisis disrupted global trade, China’s trajectory also reflects the increase in domestic demand for its production. For years, Chinese officials have advocated rebalancing the economy away from export dependence and toward one driven by domestic consumption. A rising middle class now buys more of what China produces, reducing its reliance on international markets.

Explore more data on our Trade and Globalization page

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