Most countries have closed all their schools, while others have close...
2020-04-28 35 ENGLISH REPORTS
US goods exports to China declined last year. In 2019, the United States exported just under $105 billion in goods to China. The decline in 2019 marks a continued slide from a high point in 2017, when American firms sent a total of $127 billion worth of goods to the China market, resulting in a two-year contraction of 18 percent. The declines are at least in part the result of US tariffs and retaliatory tariffs enacted by China. • Growth in US goods exports to China over the last decade now trails US export growth to the rest of the world. US goods exports to China increased at a rate of only 16 percent over the last decade, while exports to the rest of the world grew 29 percent over the same period. Services Exports • US services exports to China continued to grow at a sluggish pace in 2018, the latest year of full data. Growth of US services exports to China had already fallen to 2.3 percent in 2017, and that growth fell to an even more anemic 1.6 percent in 2018. Growth in the United States’s top two markets outstripped expansion to China, as the United Kingdom and Canada chalked up six and 10 percent growth, respectively. • Still, when viewed over the last decade, the picture is less bleak—US services exports to China have grown a whopping 230 percent from 2009 to 2018, more than any other top market.
Only half of states exported more goods to China in 2019 than they did in 2010, and only 20 states exported more in 2019 than they did in 2018. While some states like South Carolina have become success stories, others have seen sharp declines over the past two years. Missouri, for example, sold between $1.5 and $2 billion of goods to China each year between 2010 and 2017, but that value fell below $1 billion in 2018, rebounding only slightly in 2019. Washington state had sold more than $11 billion of goods to China every year since 2013, but exports to China fell to just over $5 billion last year. • Trade disputes affected the overall value of exports to China. In 2017, 30 states exported more than $1 billion of goods to China; in 2019, only 27 states were able to do so. In 2017 and 2018, only 15 states managed to export more than $1 billion in services to China. Policies affecting travel and student visas may result in lower numbers for 2019. • China remains among the top five goods and services export markets for most states. China was among the top five goods markets for 42 states. In services, China was the top market for 8 states in 2018, and a top five market for 49 states.
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