The U.S. Chamber of Commerce Report: China's Trade Revenue Now Equals Switzerland's GDP
A report released by the U.S. Chamber of Commerce shows that China's export volume of industrial products has grown significantly, with its trade revenue reaching the level of Switzerland’s gross domestic product — one of the world’s wealthiest nations.
The author of the report notes: "The trade surplus in industrial products has doubled from approximately $1 trillion in 2019 to about $2 trillion — an increase equivalent to the entire GDP of Switzerland."
Between 2021 and 2025, Vietnam, India, Russia, and Thailand were China’s largest buyers of industrial products.
Meanwhile, as China expands its exports, it is rapidly reducing its imports. Imports of goods from Germany and Japan have declined the most, dropping by 25% over four years.
The report points out that whereas China previously exported mainly consumer goods, it now primarily supplies industrial products to the world — items other companies use to produce integrated circuits or machine tools.
The report’s author concludes: "This shift up the supply chain is increasingly recognized, transforming China from the 'world’s factory' into a 'factory of factories.'"
Source: sputniknews
Original article: toutiao.com/article/1864997506016265/
Disclaimer: The views expressed in this article are those of the author alone.