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Overview This page contains the latest international trade data for Hubei Province. In December 2023 Hubei Province was the number 12 in total exports and the number 18 in total imports in China.

Exports In 2023, China's Hubei Province exported $63.2B, making it the 12th largest exporter out of the 31 exporters in China. In 2023 the top exports of Hubei Province were Smartphones ($2.9B), Electric motor Vehicles ($1.3B), Electronic integrated circuits: memories ($1.19B), Communication apparatus parts, excluding aerials ($1.15B), and Diammonium phosphate, in packs >10 kg ($1.09B).

Imports In 2023, China's Hubei Province imported $29.6B, making it the 18th largest importer out of the 31 importers in China. In 2023 top imports of Hubei Province were Copper ores and concentrates ($3.81B), Machines and apparatus of a kind... ($3.46B), Iron ore, concentrate, not iron pyrites,unagglomerate ($2.69B), Electronic integrated circuits: processors and controllers,... ($2.34B), and Petroleum oils, oils from bituminous minerals,... ($1.32B).

Economic Complexity In 2023, the highest complexity exports of Hubei Province according to the product complexity index (PCI) are Metalworking Machines (2.24), Disc Chemicals for Electronics (2.11), Other Esters (2.07), Non-Mechanical Removal Machinery (1.95), Phosphoric Esters and Salts (1.91), Other Organo-Inorganic Compounds (1.8), Silicone (1.79), Hand Saws (1.78), Epoxides (1.72), and Drafting Tools (1.69). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Historical Data

Yearly Exports

Color
Depth
Top Destination (2023)United States$7.38B
Top Product (2023)Smartphones$2.9B

In 2023 the top export destinations of Hubei Province were United States ($7.38B), Hong Kong ($5.33B), India ($3.62B), Vietnam ($2.57B), and South Korea ($2.51B).

In 2023 the top exports of Hubei Province were Smartphones ($2.9B), Electric motor Vehicles ($1.3B), Electronic integrated circuits: memories ($1.19B), Communication apparatus parts, excluding aerials ($1.15B), and Diammonium phosphate, in packs >10 kg ($1.09B).

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Exports Dynamics

Fastest Growing Exports Destination (Dec 2022 - Dec 2023)
United States $302M (49.9%)
India $204M (78.9%)
Malaysia $149M (79.4%)
Rapidly Declining Export Origins (Dec 2022 - Dec 2023)
Hong Kong -$91.8M (-16.6%)
Argentina -$50.4M (-77.4%)
Pakistan -$31.2M (-47.2%)

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Yearly Imports

Color
Depth
Top Origin (2023)Japan$3.24B
Top Import (2023)Copper ores and concentrates$3.81B

In 2023 the top import origins of Hubei Province were Japan ($3.24B), Taiwan ($2.66B), Australia ($2.02B), Russia ($1.58B), and Netherlands ($1.56B).

In 2023 the top imports of Hubei Province were Copper ores and concentrates ($3.81B), Machines and apparatus of a kind... ($3.46B), Iron ore, concentrate, not iron pyrites,unagglomerate ($2.69B), Electronic integrated circuits: processors and controllers,... ($2.34B), and Petroleum oils, oils from bituminous minerals,... ($1.32B).

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Imports Dynamics

Fastest Growing Import Origins (Dec 2022 - Dec 2023)
Netherlands $353M (3.35k%)
Australia $117M (109%)
Russia $108M (1.87k%)
Rapidly Declining Import Origins (Dec 2022 - Dec 2023)
United Arab Emirates -$179M (-99.1%)
Italy -$28.8M (-79.8%)
Argentina -$25.2M (-73.5%)

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Economic Complexity

Economic Complexity of Hubei Province

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Economic Complexity (2023)0.16

Hubei Province ranks 13th out of the 31 provinces in China according to ECI.

The Economic Complexity Index, or ECI, is a measure of an economy’s capacity which can be inferred from data connecting locations to the activities that are present in them. For more info about Economic Complexity, visit the Economic Complexity page.

Estimated using exports data.

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Export Opportunities by Relatedness

The top export opportunities according to the relatedness level, without considering those products were Hubei Province already has a comparative advantage, are led by Rubber Apparel (0.46), Children's Picture Books (0.46), Non-Retail Silk Yarn (0.46), Cast or Rolled Glass (0.45), and Woven Fabric of Synthetic Staple Fibers (0.45).

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Most Complex Products by PCI

The highest complexity exports of Hubei Province according to the product complexity index (PCI) are Metalworking Machines (2.24), Disc Chemicals for Electronics (2.11), Other Esters (2.07), Non-Mechanical Removal Machinery (1.95), Phosphoric Esters and Salts (1.91), Other Organo-Inorganic Compounds (1.8), Silicone (1.79), Hand Saws (1.78), Epoxides (1.72), and Drafting Tools (1.69). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

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Most Specialized Products by RCA Index

The most specialized products according to the RCA index are led by Flat panel displays (314.20), Processed Mushrooms (88.66), Furskin Apparel (50.58), Ceramic Bricks (44.96), and Dried Vegetables (36.54).

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Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since Hubei Province is more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

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Relatedness Space

This network shows the products most related to the production structure of  Hubei Province. These are products that tend to be co-exported with the products that Hubei Province exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

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Diversification Frontier

Depth
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The Complexity-Relatedness diagram compares the risk and the strategic value of a territory's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions. Bubble size corresponds to exports value by year 2020.

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