2023-06-08-美中贸易全国委员会-2023美国对华出口报告_19页_2mb

US Exports to China Summary

Overview

US exports to China play a significant role in the US economy, supporting jobs and contributing to various sectors. Based on 2021 data for both goods and services, China was the third-largest goods export market and sixth-largest services market. Total exports to China supported approximately 1.06 million American jobs in 2021, making it one of the top three export destinations globally.

Goods Exports

In 2022, US goods exports to China increased by 1.2%, primarily due to inflation, though growth lagged behind exports to other key markets. Agriculture, particularly oilseeds and grains, and pharmaceuticals were major growth areas, with oilseeds and grains totaling $25.4 billion. However, semiconductor exports decreased by $2.9 billion due to Chinese economic slowdown and export controls, while oil and gas saw a contraction amid shifts in global markets. Top exporting states include Texas ($21.8 billion) and California ($17.7 billion), with these exports supporting significant employment in agriculture-heavy regions.

Services Exports

US services exports to China rose by 7% in 2021, but were hampered by the COVID-19 pandemic, especially in travel, which declined sharply due to travel restrictions. Other services like education and intellectual property saw moderate growth. Overall, this sector contributed to job creation but remained below pre-pandemic levels. California and New York were top exporting states for services.

Challenges and Trends

Key factors slowing exports include US-China tensions, tariffs, and COVID-19 impacts. Economic issues in China, geopolitical events, and long-standing barriers affect the trade relationship. Despite these, exports have evolved, with innovations in sectors like pharmaceuticals driving growth.

Regional Impact

Exports are concentrated in certain areas, with Texas and California leading in both goods and services. Job support varies by state, with agriculture-focused states seeing notable increases due to trade policies like the USMCA.

Conclusion

US-China exports support substantial economic activity, but face ongoing headwinds from global and domestic factors. Addressing challenges like tariffs and pandemics could bolster future growth, while regional strengths highlight opportunities for sustained engagement.