Electromagnets in China | The Observatory of Economic Complexity

About

Exports In 2022, China exported $6.28B in Electromagnets, making it the 1st largest exporter of Electromagnets in the world. At the same year, Electromagnets was the 112th most exported product in China. The main destination of Electromagnets exports from China are: Germany ($840M), United States ($756M), South Korea ($645M), Vietnam ($525M), and Japan ($385M).

The fastest growing export markets for Electromagnets of China between 2021 and 2022 were Germany ($265M), South Korea ($244M), and United States ($195M).

Imports In 2022, China imported $919M in Electromagnets, becoming the 4th largest importer of Electromagnets in the world. At the same year, Electromagnets was the 235th most imported product in China. China imports Electromagnets primarily from: Japan ($235M), Germany ($166M), China ($86M), South Korea ($60.9M), and Vietnam ($57.8M).

The fastest growing import markets in Electromagnets for China between 2021 and 2022 were Vietnam ($31.1M), Germany ($13.4M), and United Kingdom ($9.55M).

COMPANIES In 2023, leading companies such as TOSHIBA INTERNATIONAL CORPORATION (28), ABB MOTORS AND MECHANICAL INC (20), and IKEA SUPPLY AG (17) were at the forefront of shipping Electromagnets from China to the United States.

Latest Trends

March 2024

About

Overview In March 2024 China's Electromagnets exports accounted up to $370M and imports accounted up to $60.9M, resulting in a positive trade balance of $309M. Between March 2023 and March 2024 the exports of China's Electromagnets have decreased by $-131M (-26.1%) from $501M to $370M, while imports decreased by $-12.1M (-16.6%) from $73M to $60.9M.

Destinations In March 2024, Electromagnets were exported mostly to Germany ($47.9M), United States ($43.5M), Vietnam ($35.7M), South Korea ($35.3M), and Japan ($23.9M), and were imported mostly from Japan ($17.1M), Germany ($13.3M), China ($6.95M), Vietnam ($3.57M), and United States ($2.79M).

Growth In March 2024, the decrease in Electromagnets's year-by-year exports was explained primarily by a decrease in exports to Vietnam ($-29.9M or -51.2%), Hong Kong ($-10.7M or -53.3%), and Italy ($-8.85M or -32.1%). In March 2024, the decrease in Electromagnets's year-by-year imports was explained primarily by a decrease in imports from Japan ($-10.4M or -52.3%), China ($-5.22M or -50.6%), and South Korea ($-3.01M or -41.1%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)$-131M(-26.1%)

IMPORT GROWTH (March 2023 - March 2024)$-12.1M(-16.6%)

MAIN EXPORTER (March 2024)Zhejiang Province$140M

MAIN DESTINATION (March 2024)Germany$47.9M

This section shows Electromagnets's exports and imports data at subnational level for China. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Electromagnets over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$6.28B

IMPORTS (2022)$919M

NET TRADE (2022)$5.36B

In 2022, China exported $6.28B in Electromagnets. The main destinations of China exports on Electromagnets were Germany ($840M), United States ($756M), South Korea ($645M), Vietnam ($525M), and Japan ($385M).

In 2022, China imported $919M in Electromagnets, mainly from Japan ($235M), Germany ($166M), China ($86M), South Korea ($60.9M), and Vietnam ($57.8M).

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