US Export Report 2022

US Exports of Goods and Services to China

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US Exports of Goods and Services to China Report 2022

The latest data on US exports to China paint a picture of extremes. In 2021, as global trade continued recovering from the pandemic, goods exports to China grew by 21 percent to an all-time high of $149.2 billion. On the other hand, in 2020, the latest year of services data available, services exports to China contracted by 33 percent to $37 billion.

This was the lowest amount since 2013, reflecting the devastating impact of the pandemic on travel and education. When it comes to jobs supported by US exports to China, the bump in 2020 goods exports from tariff relief did not make up for the pandemic’s impact on services exports. The number of US jobs supported by both goods and services exports to China stood at just over 858,000 in 2020, roughly 44,000 fewer than in 2019, a five percent drop.

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US goods exports to China hit an all-time high in 2021.

After hitting a trough in 2019 during the peak of tariff escalations, US goods exports continued a two-year growth streak last year. That boost was powered by substantial growth in the three largest categories of exports: oilseeds and grains, semiconductors and their componentry, and oil and gas.
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In 2020, US services exports to China were crushed by the COVID-19 pandemic

The global spread of COVID-19 in 2020 caused international travel to plummet, hammering the largest US services export to China. North Dakota, the state with the highest growth figure, saw its services exports to China contract by 19 percent.
US Exports of Goods and Services to China Report 2022
US Exports of Goods and Services to China Report 2022

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