China’s export share grew in pandemic

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In 2020, China had the largest share of global exports in goods with 14.7% of the total compared with 13.2% in 2019

China’s share of global exports has increased during the COVID-19 pandemic to close to 15% although its dominance may soon peak as domestic demand grows and the cost of labour rises, U.N. agency UNCTAD said on Tuesday.

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In 2020, China had the largest share of global exports in goods with 14.7% of the total compared with 13.2% in 2019, according to data from the U.N. Conference on Trade and Development. The United States came second with 8.1% and Germany third with 7.8%.

Early data from this year suggests a continuation of the trend with Chinese exports surging almost 50% year-on-year to $710 billion in the first quarter, the UNCTAD data showed.

Source: Reuters (Reporting by Emma Farge; Editing by Alison Williams)