Trade’s share of China’s economy is far below its 2006 peak — but still much higher than in the 1970–80s

Global trade has never been a bigger slice of the world economy. However, China, the country that most people think of as the export giant, has seen a decline in its trade-to-GDP ratio in the last 15 years.

The chart shows China’s trade in goods and services as a share of its Gross Domestic Product (GDP). In 1970, it was just 5%. Following Deng Xiaoping's economic reforms, which opened China to market forces and international trade, this figure soared to 64% in 2006. But since then, it has fallen considerably, reaching 37% in 2023 — still far higher than before the 1990s. China's exports have grown in dollar terms, but its economy has expanded even faster, making trade a shrinking share of the whole.

While the 2008 financial crisis disrupted global trade, China’s trajectory also reflects the increase in domestic demand for its products. The decline in the trade-to-GDP ratio since 2006 reflects a shift from export-led growth toward domestic consumption, not a return to pre-reform levels. For years, Chinese officials have advocated rebalancing the economy away from export dependence and toward one driven by domestic consumption. A rising middle class now buys more of what China produces, reducing its reliance on international markets.

Explore more data on our Trade and Globalization page →

Where this page came from

This page was imported from Our World in Data. “Trade’s share of China’s economy is far below its 2006 peak — but still much higher than in the 1970–80s” by Simon van Teutem, published by Our World in Data under CC BY 4.0. Changed here: set as a page, its interactive charts shown as pictures. Data from third parties keeps its own licence.

Nobody has written it yet — it is the source material at a new address, which is why search engines are asked to skip it and why no one earns from it. It is up for grabs: take it on, and it is yours to rewrite and to earn from.