Emerging-market exports shift from China

Article Excerpt

Global trade has significantly expanded in the last four decades—growing from 36% of the global economy to 57% by 2022. This expansion came with changes in the competitive landscape of global trade, and the rise of emerging economies. China has developed from mid-size to the largest exporter in the world in less than 20 years. Mexico is now among the top 10 exporters and a number of smaller emerging economies are growing their exports rapidly. China still dominates global exports China remains the largest exporting country in the world. It delivered goods worth $3.6 trillion to global customers in 2022, or 16% of all global exports. This was roughly the same value of exports from the second and third-ranked U.S. and Germany combined. Fellow Asian countries received almost half of Chinese exports while European and North American customers both imported 20% of the total. The largest single-country customers for Chinese goods are the U.S. (16%), Japan (5%), Germany (3%), Netherlands (3%), South Korea (5%),…