The largest importer of the world is the United States, followed by China and Germany. The United States imported $2.5 trillion in goods in 2020 alone, making it easily the largest importer in the world. The majority of its imports are from China ($559 billion), Mexico ($346 billion), Japan ($204 billion) and Canada ($294 billion). The US is also the world’s largest importer of energy products, importing $467.7 billion in 2020. China, the European Union and Japan are the next three largest importers globally after the US. These countries imported an estimated $2 trillion, $1.4 trillion and $913 billion respectively in 2020. Other countries with large import totals include India ($576 billion), South Korea ($523 billion) and the United Kingdom ($481 billion).
Overall, global imports totaled $20 trillion in 2020, representing a slight decrease from 2019's total of $20.4 trillion. This decrease was largely due to the impacts of COVID-19 on the global economy. Imports are expected to rebound in 2021 as economies recover and businesses resume operations.
In addition to imported goods, the US is also a major importer of services. In 2020, it imported $682 billion worth of services from abroad. The majority of its service imports were from China ($162 billion), Canada ($144 billion), Japan ($136 billion) and Mexico ($112 billion).
Overall, the US is the world’s largest importer of goods and services. In 2020, it imported $3.2 trillion worth of products from around the globe. The majority of its imports came from China, Mexico, Japan and Canada.
Who is the largest importer and exporter in the world?
The United States is the world's largest importer, with total imports of goods and services estimated at $2.6 trillion in 2019. The U.S. is also the world’s largest exporter, with a total export value of $1.7 trillion in 2019. China was the second-largest importer (estimated at $2.1 trillion) and the second-largest exporter (estimated at $2.0 trillion).
Germany was the third-largest importer, with estimated imports of $1.3 trillion in 2019, while the Netherlands was the third-largest exporter ($890 billion). India was the fourth-largest importer ($781 billion) and the sixth-largest exporter ($444 billion). Japan was the fifth-largest importer ($717 billion) and the fourth-largest exporter ($712 billion). Other major exporters include South Korea, Canada, France, and Mexico. Collectively, these countries are responsible for more than two-thirds of global exports.
Which country is the largest exporter of garments?
China is the largest exporter of garments in the world. According to statistics from the World Trade Organization, China accounted for 32% of the global apparel market in 2019. This was followed by Bangladesh (15%), Vietnam (12%), and India (10%). The United States was also among the top five apparel-exporting countries, with a share of 8%.
In 2020, China’s clothing exports valued US$277 billion, which was a 5% increase compared to 2019. This is due to the country’s competitive pricing and large production capacities. Additionally, China’s greater emphasis on automation has enabled manufacturers to produce high-quality garments at lower costs. Apart from apparel, China is also the leading exporter of footwear and accessories, accounting for about 32% of global exports in 2020.
Who is Chinas biggest trade partner?
China’s biggest trade partner is the United States, with a total of $636.7 billion in goods traded between the two countries in 2020. This number is up significantly from 2019 when US-China trade totaled $557.9 billion. China also has close trading relationships with Japan, South Korea, Vietnam and Germany, among other countries. The country’s leaders have sought to expand their global trading relationships by joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and signing free trade agreements with countries such as New Zealand, Australia, South Korea, Chile, Peru and Singapore.
China is also a member of the World Trade Organization and Regional Comprehensive Economic Partnership (RCEP) free trade agreement. In 2020, China’s total global exports stood at $2.4 trillion, a slight decrease from 2019 when the figure was $2.5 trillion. The country’s top exports include electronic equipment, clothing, furniture and textiles. Imports into the country totaled $1.