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International Cooperation Department
Tel.: (+86-21) 65853850-8034
Fax: (+86-21) 65373125
E-mail: ICDept@sisi-smu.org
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International Shipping |
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| China's share of US imports falls to lowest since 2006: US Census |
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Date:2023-09-11 Readers:
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CHINA's share of US goods imports fell to the lowest level since 2006 in the 12 months through July, according to the US Census Bureau, Bloomberg reports.
The share of imported merchandise coming from China was 14.6 per cent on average over that period. That's down from a peak of 21.8 per cent in the 12 months through March 2018, just before former US President Donald Trump ramped up a trade war with Beijing.
American companies have been reorganising supply chains in recent years amid the US government's attempts to reduce the economy's dependence on China, as well as fragilities exposed by the pandemic.
Countries like Mexico and Vietnam have benefited from the shift, with Chinese exports to and foreign direct investment in those places also on the rise. Mexico's share of US goods imports rose 15 per cent on average in the 12 months through July, the highest on record in 30 years of data. Vietnam's share was 3.7 per cent, a bit below the high reached in 2022.
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