China’s share of global container exports has risen to 40 percent over the past three months on a rolling average, marking a notable increase in the country's dominance in international trade. This figure represents a 2.5 percentage point rise within just nine months, according to Jens Eskelund, president of the European Union Chamber of Commerce in China.
Eskelund noted that this level of export share was expected to be reached closer to 2030, indicating that trade imbalances are intensifying more rapidly than previously anticipated. He highlighted that before the COVID-19 pandemic, in 2019, China exported about 2.5 containers for every one container that Europe sent to China. That ratio has since widened significantly, with the first eight months of this year showing China exporting six containers for every one from Europe.
The rise in China’s export share underscores Beijing’s ongoing reliance on trade as a key engine for economic growth. The country’s trade surplus reached $805.51 billion between January and August this year, placing it on track to exceed last year’s record trade surplus of $1.2 trillion.
This growing trade surplus has raised concerns among trading partners such as the European Union and the United States, which worry that China's competitively priced goods are contributing to job losses and the decline of manufacturing sectors domestically. In response, the EU is considering new tariffs aimed at curbing the inflow of Chinese products and addressing these mounting trade imbalances.
Concurrently, the European Union Chamber of Commerce in China has published a comprehensive 398-page report calling for reforms across a broad range of Chinese industries, including medical devices, financial services, and shipping. The report emphasizes the need for greater market access for European companies operating in China, addressing persistent challenges and barriers faced by foreign businesses.
While the increase in China's share of container exports reflects the strength of its trade position, it also highlights the evolving nature of global trade dynamics and the tensions emerging among major economic powers over trade fairness and market access. Both the EU and US continue to weigh policy options to recalibrate trade relations with China amid these developments.
