About a decade ago, China’s economic growth started to accelerate rapidly to a pace which has largely been kept up ever since. Until 2015, imports and exports as well as GDP showed a similar upward trend.
China Economic Indicators
China Economic Indicators
GDP
Imports
Exports
2000
37
24
19
2001
40
26
21
2002
44
31
27
2003
48
43
35
2004
53
52
44
2005
59
58
55
2006
66
68
67
2007
76
77
80
2008
83
80
87
2009
90
82
78
2010
100
100
100
2011
110
109
109
2012
118
113
116
2013
127
124
125
2014
136
129
133
2015
146
126
132
China Economic Indicators
GDP
Imports
Exports
2000
37
24
19
2001
40
26
21
2002
44
31
27
2003
48
43
35
2004
53
52
44
2005
59
58
55
2006
66
68
67
2007
76
77
80
2008
83
80
87
2009
90
82
78
2010
100
100
100
2011
110
109
109
2012
118
113
116
2013
127
124
125
2014
136
129
133
2015
146
126
132
This growth did show signs of slowing in 2008, as becomes evident when looking at the development of imports, exports and GDP year on year. China was on double-digit growth for the last time in 2010. Imports and exports saw a minor contraction in 2015 in spite of a continually rising economy.
China Economic Indicators
China Economic Indicators
GDP
Imports
Exports
2001
8
8
10
2002
9
18
26
2003
10
38
32
2004
10
22
24
2005
11
12
25
2006
13
16
22
2007
14
14
20
2008
10
4
9
2009
9
3
-11
2010
11
22
28
2011
10
9
9
2012
8
4
6
2013
8
10
8
2014
7
4
7
2015
7
-2
-1
China Economic Indicators
GDP
Imports
Exports
2001
8
8
10
2002
9
18
26
2003
10
38
32
2004
10
22
24
2005
11
12
25
2006
13
16
22
2007
14
14
20
2008
10
4
9
2009
9
3
-11
2010
11
22
28
2011
10
9
9
2012
8
4
6
2013
8
10
8
2014
7
4
7
2015
7
-2
-1
In 2008, annual growth in exports visibly increased more sharply than in imports. Although the gap has narrowed in recent years, imports still have not caught up. Measured by imports of services, there seems to be a shift in the nature of China’s imports.
Total imports by China
Total imports by China
Services
Goods
2008
121.6
770
2009
119.1
721
2010
155.2
1052
2011
178
1252
2012
219
1415
2013
249
1468
2014
341
1474
2015
423
1444
Total imports by China
Services
Goods
2008
121.6
770
2009
119.1
721
2010
155.2
1052
2011
178
1252
2012
219
1415
2013
249
1468
2014
341
1474
2015
423
1444
Part of China’s imports is used in manufacturing production, for instance raw materials and mineral fuels. Because the bulk of China’s manufacturing output is destined for foreign markets, imports of these intermediate goods tend to keep pace with Chinese exports.
China total goods imports, by type of goods
China total goods imports, by type of goods
Food/drinks/tobacco
Chemical products
Raw materials
Mineral fuels
Manufactured goods
Machinery and transport equipment
2008
10.9
81
120.5
115.1
142.2
300.4
2009
12
80.4
106.4
88.9
140.7
292.5
2010
18.1
112.9
165.5
142.2
198.4
414.6
2011
23.3
130.1
212.7
198.1
235.3
453
2012
30.9
139.5
219.6
243.6
273.4
508.2
2013
34.8
143.3
223.4
237.3
294.8
534.7
2014
38.7
145
209.5
238.5
297
545.2
2015
50.7
154
197.6
179.1
313.9
620.4
China total goods imports, by type of goods
Food/drinks/tobacco
Chemical products
Raw materials
Mineral fuels
Manufactured goods
Machinery and transport equipment
2008
10.9
81
120.5
115.1
142.2
300.4
2009
12
80.4
106.4
88.9
140.7
292.5
2010
18.1
112.9
165.5
142.2
198.4
414.6
2011
23.3
130.1
212.7
198.1
235.3
453
2012
30.9
139.5
219.6
243.6
273.4
508.2
2013
34.8
143.3
223.4
237.3
294.8
534.7
2014
38.7
145
209.5
238.5
297
545.2
2015
50.7
154
197.6
179.1
313.9
620.4
EU exports to China
China imports goods and services from the EU to a value exceeding 200 billion euros. Of that amount, 45 percent is on account of Germany; the Netherlands’ share is 5 percent.
Exports goods and services to China
Exports goods and services to China
Netherlands
Germany
EU
2010
7
57.7
133
2011
8.3
69.8
158.1
2012
9.3
72.7
169.4
2013
9.4
74.1
175.8
2014
9.8
83
193.7
2015
10.7
83
206.3
Exports goods and services to China
Netherlands
Germany
EU
2010
7
57.7
133
2011
8.3
69.8
158.1
2012
9.3
72.7
169.4
2013
9.4
74.1
175.8
2014
9.8
83
193.7
2015
10.7
83
206.3
Machinery and transport equipment form the most important group of EU export products to China. Some of these products are used in China’s manufacturing industry but the group also includes passenger cars.
EU export of goods to China
EU export of goods to China
Food drinks and tobacco
Chemical products
Raw materials
Mineral fuels
Various manufactured goods
Machinery and transport equipment
2008
1
8
5
0
17
47
2009
2
10
6
0
17
48
2010
2.2
12.5
7.7
0.9
20.6
69.6
2011
3.3
14.8
10.1
1.3
24.5
82.3
2012
4.4
16.9
10
1.9
26.6
84.4
2013
4.9
17.4
10.1
2
28.3
85.5
2014
5.6
18.9
9.1
2.1
33.1
95.8
2015
8.1
21.1
9.8
2
40.1
89.3
EU export of goods to China
Food drinks and tobacco
Chemical products
Raw materials
Mineral fuels
Various manufactured goods
Machinery and transport equipment
2008
1
8
5
0
17
47
2009
2
10
6
0
17
48
2010
2.2
12.5
7.7
0.9
20.6
69.6
2011
3.3
14.8
10.1
1.3
24.5
82.3
2012
4.4
16.9
10
1.9
26.6
84.4
2013
4.9
17.4
10.1
2
28.3
85.5
2014
5.6
18.9
9.1
2.1
33.1
95.8
2015
8.1
21.1
9.8
2
40.1
89.3
Evidently, the EU is only one among many players on China’s import market. Not much more than 16 percent of China’s imports comes from the EU. The EU’s share is no larger than 20 percent in any group of goods. The highest percentage share of EU goods is found in machinery and transport equipment, which is also the largest commodity group among EU export products for the Chinese market.
Share EU goods in Chinese imports, by type of goods
Share EU goods in Chinese imports, by type of goods
Food drinks and tobacco
Chemical products
Raw materials
Mineral fuels
Manufactured goods
Machinery and transport equipment
2008
12.2
10.3
4.4
0.2
11.6
15.5
2009
12.8
12.6
5.4
0.2
11.7
16.5
2010
12.4
11
4.6
0.6
10.4
16.8
2011
14.3
11.4
4.8
0.7
10.4
18.2
2012
14.1
12.1
4.6
0.8
9.7
16.6
2013
14.1
12.1
4.5
0.8
9.6
16
2014
14.5
13
4.3
0.9
11.1
17.6
2015
16
14
4.9
1.1
12.8
14.4
Share EU goods in Chinese imports, by type of goods
Food drinks and tobacco
Chemical products
Raw materials
Mineral fuels
Manufactured goods
Machinery and transport equipment
2008
12.2
10.3
4.4
0.2
11.6
15.5
2009
12.8
12.6
5.4
0.2
11.7
16.5
2010
12.4
11
4.6
0.6
10.4
16.8
2011
14.3
11.4
4.8
0.7
10.4
18.2
2012
14.1
12.1
4.6
0.8
9.7
16.6
2013
14.1
12.1
4.5
0.8
9.6
16
2014
14.5
13
4.3
0.9
11.1
17.6
2015
16
14
4.9
1.1
12.8
14.4
German exports to China
The bulk of Chinese imports of machinery and transport equipment from the EU is of German origin. Out of the 90 billion euros in related goods imported by China, Germany accounts for 50 billion euros. In addition, Germany is a major player among EU members in the field of chemical products and various manufactured goods.
German goods exports to China, by type of goods
German goods exports to China, by type of goods
Food drinks and tobacco
Chemical products
Raw materials
Mineral fuels
Manufactured goods
Machinery and transport equipment
2008
0
3
1
0
6
24
2009
0
4
1
0
6
27
2010
0.2
4.5
1.2
0.1
7.7
40.1
2011
0.3
5.2
1.4
0.1
9.7
48.2
2012
0.6
5.9
1.4
0.1
10.4
48.4
2013
0.7
6.1
1.4
0.1
11.1
47.5
2014
0.8
6.5
1.1
0.2
11.8
53.9
2015
1.2
7.5
1
0.1
12
49.5
German goods exports to China, by type of goods
Food drinks and tobacco
Chemical products
Raw materials
Mineral fuels
Manufactured goods
Machinery and transport equipment
2008
0
3
1
0
6
24
2009
0
4
1
0
6
27
2010
0.2
4.5
1.2
0.1
7.7
40.1
2011
0.3
5.2
1.4
0.1
9.7
48.2
2012
0.6
5.9
1.4
0.1
10.4
48.4
2013
0.7
6.1
1.4
0.1
11.1
47.5
2014
0.8
6.5
1.1
0.2
11.8
53.9
2015
1.2
7.5
1
0.1
12
49.5
Taking a closer look at German exports of machinery and transport equipment, road transport vehicles such as cars and trucks stand out as the largest commodity group with a total value approaching 20 billion euros. Other major German export products are electrical equipment and various types of manufactured goods which are used by Chinese manufacturers.
Exports German machinery and transport equipment to China, by type of goods
Exports German machinery and transport equipment to China, by type of goods
Office and automatic data-processing machines
Telecommunication equipment
Generators and engines
Metalworking machinery
Other transport equipment
Other electrical equipment
Machinery
Road transport vehicles
2008
0.2
0.3
1.6
1.6
1.6
4.4
8.2
5.2
2009
0.2
0.4
1.6
1.8
2.3
4.3
8.7
6.4
2010
0.2
0.5
2.1
2.2
3
6.1
12
13.3
2011
0.2
0.6
2.6
3
2.6
6.8
14.6
17.1
2012
0.2
0.7
2.4
3.2
3
6.8
12.5
18.9
2013
0.2
0.7
2.3
2.8
3.1
7.7
12.6
17.5
2014
0.3
0.8
2.6
2.8
3.7
9
12.9
21
2015
0
1
2.3
2.7
3.9
9
12.1
17.9
Exports German machinery and transport equipment to China, by type of goods
Office and automatic data-processing machines
Telecommunication equipment
Generators and engines
Metalworking machinery
Other transport equipment
Other electrical equipment
Machinery
Road transport vehicles
2008
0.2
0.3
1.6
1.6
1.6
4.4
8.2
5.2
2009
0.2
0.4
1.6
1.8
2.3
4.3
8.7
6.4
2010
0.2
0.5
2.1
2.2
3
6.1
12
13.3
2011
0.2
0.6
2.6
3
2.6
6.8
14.6
17.1
2012
0.2
0.7
2.4
3.2
3
6.8
12.5
18.9
2013
0.2
0.7
2.3
2.8
3.1
7.7
12.6
17.5
2014
0.3
0.8
2.6
2.8
3.7
9
12.9
21
2015
0
1
2.3
2.7
3.9
9
12.1
17.9
One-sixth of German goods exports to China are manufactured products including instruments (for professional use), metal and rubber products and yarns.
Exports German manufactures to China, by type
Exports German manufactures to China, by type
Other
Yarns and fabrics
Products of non-metallic minerals
Rubberware
Non-ferrous metals
Iron and steel
Various manufactures
Metalware
Professional instruments and devices
2008
0.2
0.2
0.2
0.2
0.7
1.2
0.5
0.9
1.5
2009
0.2
0.2
0.2
0.2
0.7
0.9
0.5
0.9
1.6
2010
0.3
0.2
0.3
0.4
0.7
0.8
0.6
1.3
2.5
2011
0.3
0.3
0.4
0.4
1.1
0.9
0.8
1.4
3.2
2012
0.3
0.3
0.4
0.5
1.1
0.8
0.8
1.6
3.7
2013
0.3
0.4
0.5
0.6
0.8
1
0.9
1.8
3.9
2014
0.3
0.4
0.5
0.6
0.8
1.1
1
2
4.2
2015
1
0
1
0.6
0.7
0.9
1.1
2
4.5
Exports German manufactures to China, by type
Other
Yarns and fabrics
Products of non-metallic minerals
Rubberware
Non-ferrous metals
Iron and steel
Various manufactures
Metalware
Professional instruments and devices
2008
0.2
0.2
0.2
0.2
0.7
1.2
0.5
0.9
1.5
2009
0.2
0.2
0.2
0.2
0.7
0.9
0.5
0.9
1.6
2010
0.3
0.2
0.3
0.4
0.7
0.8
0.6
1.3
2.5
2011
0.3
0.3
0.4
0.4
1.1
0.9
0.8
1.4
3.2
2012
0.3
0.3
0.4
0.5
1.1
0.8
0.8
1.6
3.7
2013
0.3
0.4
0.5
0.6
0.8
1
0.9
1.8
3.9
2014
0.3
0.4
0.5
0.6
0.8
1.1
1
2
4.2
2015
1
0
1
0.6
0.7
0.9
1.1
2
4.5
Dutch exports to China
As for the Netherlands, exports of goods and services to China amounted to 12.1 billion euros in 2016 (for services, the figure is an estimate based on 2015), up from 5.2 billion in 2008.
Exports from the Netherlands to China
Exports from the Netherlands to China
Services
Goods
2008
1.3
3.9
2009
1.2
4.6
2010
1.3
5.4
2011
1.6
6.7
2012
1.6
7.6
2013
1.7
7.7
2014
1.9
7.9
2015
2.2
8.5
2016*
2.2
9.9
Exports from the Netherlands to China
Services
Goods
2008
1.3
3.9
2009
1.2
4.6
2010
1.3
5.4
2011
1.6
6.7
2012
1.6
7.6
2013
1.7
7.7
2014
1.9
7.9
2015
2.2
8.5
2016*
2.2
9.9
In Dutch exports as well, the largest group of products sold to China consists of machinery and transport equipment; these take up nearly one-third of goods exports to China. Other major export products for the Chinese market are mineral fuels and raw materials, presumably for manufacturing purposes.
Dutch goods exports to China
Dutch goods exports to China
Mineral fuels
Manufactured goods
Food drinks and tobacco
Raw materials
Chemical products
Machinery and transport equipment
2008
0
0.4
0.2
0.9
0.8
1.5
2009
0
0.6
0.3
1.1
1
1.6
2010
0.3
0.6
0.4
1.2
1.1
1.9
2011
0.5
0.7
0.5
1.7
1.2
2.1
2012
1.2
1.1
0.6
1.5
1.5
1.8
2013
1.2
1.2
0.7
1.4
1.4
1.9
2014
0.7
1
0.8
1.2
1.4
2.8
2015
0.7
1
1.3
1.3
1.5
2.8
Dutch goods exports to China
Mineral fuels
Manufactured goods
Food drinks and tobacco
Raw materials
Chemical products
Machinery and transport equipment
2008
0
0.4
0.2
0.9
0.8
1.5
2009
0
0.6
0.3
1.1
1
1.6
2010
0.3
0.6
0.4
1.2
1.1
1.9
2011
0.5
0.7
0.5
1.7
1.2
2.1
2012
1.2
1.1
0.6
1.5
1.5
1.8
2013
1.2
1.2
0.7
1.4
1.4
1.9
2014
0.7
1
0.8
1.2
1.4
2.8
2015
0.7
1
1.3
1.3
1.5
2.8
In addition, the Netherlands accounts for over 10 percent of all EU exports to China of materials, food, beverages and tobacco products.
Share Dutch goods in EU exports to China, by type of goods
Share Dutch goods in EU exports to China, by type of goods
Food drinks and tobacco
Chemical products
Raw materials
Mineral fuels
Manufactured goods
Machinery and transport equipment
2008
13.4
9.5
18
22.5
2.6
3.1
2009
19.2
9.8
19.2
19.1
3.4
3.3
2010
16.7
8.9
15.5
36.7
2.7
2.7
2011
13.7
8.2
16.5
37.9
2.9
2.6
2012
13.5
8.6
14.5
64.2
4
2.2
2013
13.8
7.9
13.6
59.7
4.1
2.3
2014
14.8
7.2
13.3
31.8
3.1
2.9
2015
8
5
13
66.4
3.8
3.1
Share Dutch goods in EU exports to China, by type of goods
Food drinks and tobacco
Chemical products
Raw materials
Mineral fuels
Manufactured goods
Machinery and transport equipment
2008
13.4
9.5
18
22.5
2.6
3.1
2009
19.2
9.8
19.2
19.1
3.4
3.3
2010
16.7
8.9
15.5
36.7
2.7
2.7
2011
13.7
8.2
16.5
37.9
2.9
2.6
2012
13.5
8.6
14.5
64.2
4
2.2
2013
13.8
7.9
13.6
59.7
4.1
2.3
2014
14.8
7.2
13.3
31.8
3.1
2.9
2015
8
5
13
66.4
3.8
3.1
Although the Netherlands’ exports of transport equipment to China play a minor role when compared to the rest of the EU, this category is important to the Dutch economy. Unlike in German exports, which are dominated by road vehicles, the share of specialised machinery and electrical equipment form is larger in Dutch exports.
Exports Dutch machinery and transport equipment to China, 2015
Exports Dutch machinery and transport equipment to China, 2015
Series 0
Machinery
1425.4
Other electrical equipment
644.1
Road transport vehicles
255.2
Generators and engines
167.9
Telecommunication equipment
114
Office and automatic data-processing machines
98.6
Other transport equipment
40.6
Metalworking machinery
31.5
Exports Dutch machinery and transport equipment to China, 2015
Series 0
Machinery
1425.4
Other electrical equipment
644.1
Road transport vehicles
255.2
Generators and engines
167.9
Telecommunication equipment
114
Office and automatic data-processing machines
98.6
Other transport equipment
40.6
Metalworking machinery
31.5
In 2015, China ranked ninth on the list of largest export markets for the Netherlands in terms of goods exports. The top position was held by Germany, with other EU countries following at a distance. The volume of exports to China is one-tenth of exports to Germany.
Main export countries Netherlands, 2015
Main export countries Netherlands, 2015
Export goods
Germany
99
Belgium
45
UK
38
France
34
US
18
Italy
18
Spain
12
Poland
10
China
9
Sweden
8
Main export countries Netherlands, 2015
Export goods
Germany
99
Belgium
45
UK
38
France
34
US
18
Italy
18
Spain
12
Poland
10
China
9
Sweden
8
As Dutch manufacturers import goods and services towards the production of export goods, the export value is not equivalent to the value added to the Dutch economy. The value added to the economy by re-exports is only a fraction. Dutch products also include a large foreign component; out of the 9.3 billion euros in goods and services which were exported to China in 2014 (later adjusted to 9.8 billion), a value of 4.4 billion euros was added to the Dutch economy, equivalent to 0.7 percent of GDP.
Vice-versa, the Netherlands supplies ‘components’ (which may refer to services) for the manufacturing of products in other countries which are then exported to China. For instance, the Netherlands supplies spare parts to the German car manufacturing industry. Likewise, part of the export sales to China eventually end up in another part of the world as Chinese manufacturers incorporate such goods and services into their export products. Dutch products ending up with Chinese final consumers – whether or not as a component – contributed 4 billion euros to our economy. This is an alternative way of looking at a country’s exports.
Value exports to China, 2014
Value exports to China, 2014
Value added for other countries
Value added for the Netherlands
Dutch products
1.8
2.9
Re-exports
2.1
0.3
Services
0.9
1.3
Value exports to China, 2014
Value added for other countries
Value added for the Netherlands
Dutch products
1.8
2.9
Re-exports
2.1
0.3
Services
0.9
1.3
Chinese companies in the Netherlands
Economic relations between the Netherlands and China are not limited to trade. A rising number of Chinese companies are active in the Netherlands, for example, of which the parent company is located in China. Chinese companies accounted for a total turnover in 2014 of 8.7 billion euros. There are separate records on the number of Hong Kong companies; this number is hardly increasing, as opposed to the number of mainland companies.
