China’s electronics exports to the world amounted to $898.95 billion in the year 2021. The exports of electronics from China to other countries accounted for significant growth over the past five years. It is predicted that the electronics industry will grow more.
However, the recent outbreak of COVID-19 in China has resulted in an upside-down situation. In the very first quarter of 2022, the exports of electronics from China registered a downfall for the first time in years. This has raised concerns over the future of electronics around the world.
China’s Electronics Exports Growth
The yearly exports of electronics from China cover a time period of five years (2017-2021). 2017 amounted to $598.9 billion, followed by $664.4 billion and $670.4 billion in 2018 and 2019. In 2020 and 2021, values further grew and stood at $709.9 billion and $898.9 billion respectively.
The Top Electronics – By Commodity
The represented China’s export data features the top exported electronic commodities from China in 2021. The top exported commodities of electronics from China are—telephones & mobiles, integrated circuits, semiconductors, projectors, electrical transformers, and more.
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Top Export Partners For Electronics
The top 10 exporting partners for China’s electronics exports in 2021 were—Hong Kong (21.8%), the USA (15%), South Korea (5.3%), Vietnam (5.2%), Japan (4.2%), Taipei, Chinese (3.9%), the Netherlands (3.9%), Germany (3%), India (2.9%), and Malaysia (2.5%).
China’s Electronics Exports Downfall
The COVID-19 outbreak in China as an upcoming next wave made international trade barriers with other countries. To curb the outbreak, Chinese authorities imposed lockdown measures and restrictions, leading to the downfall of China’s exports, at the very beginning of 2022.
According to the below represented China’s exports quarterly trends, from the first quarter of 2021 till the last quarter of 2021, the values of exports constantly grew. In the first quarter of 2022, the export value declined by a percentile of 17.5% with a value difference of $47.2 billion.
The next big threat in China for the COVID-19 outbreak is lingering over China and its trade. The biggest electronics market in the world—China’s Shenzhen, shut down on Monday. The authorities declared lockdowns as soon as new cases appeared.
It is home to several electronic components such as computers, mobile phones, electronic parts, and even microchips. This has raised concerns over the shortage of semiconductors even more. As shown above, semiconductor exports were the third largest from China in 2021.
Semiconductor Chips Shortage Is Likely to Expand Till 2022
Global Chip Shortage Situation Is Likely To Improve Over Time