China's rapid economic development has been fueled in large part by the country's rapid increase in exports. China's exports climbed by 0.5% in 2019, a significant slowdown from a 10% surge in 2018, with supplies to the United States decreasing substantially as a result of persistent trade concerns. Machinery and transport equipment accounted for 48% of total exports, with electrical machinery, apparatus, and appliances accounting for 14%, telecommunications, and sound recording and reproducing apparatus and equipment accounting for 12%, office machines and automatic data processing machines accounting for 8%, and general industrial machinery and equipment, as well as machine parts accounting for 8 percent (5%). In addition, predominantly categories are: miscellaneous manufactured articles (23%), furniture and parts thereof (3%), manufactured goods classified chiefly by material (16%), such as textile yarn, fabrics, made-up articles (5%), manufactures of metals (4%), iron and steel (2%), chemicals and related products (6%), food and live animals. The European Union and the United States were the most popular destinations for Chinese exports, accounting for 17% of total exports in each case. Hong Kong (11%), Japan (6%), South Korea (4%), Vietnam (4%), Germany (3%), India (3%), and the Netherlands (3%). There are 2% contributions from the United Kingdom, Taiwan, Singapore, Malaysia, Russia, Australia, Indonesia, Thailand, and the Philippines, accordingly.
A higher than expected figure should be seen as positive (bullish) for the CNY while a lower than expected figure should be seen as negative (bearish) for the CNY.
