Key Points
- A surge in high-tech products like EVs and robots is driving China’s exports.
- Exports of mechanical and electrical products are up over 9%, while labor-intensive goods are down.
- Chinese companies are successfully tailoring their products to meet the needs of overseas markets.
- EV exports, in particular, are seeing massive growth, even in traditionally difficult markets.
China’s export engine is getting a high-tech upgrade. Shipments of products like electric vehicles (EVs) and industrial robots are surging, fueling a new wave of growth and offsetting a slump in traditional, labor-intensive industries.
According to the latest data, China’s foreign trade grew by a solid 3.5% in the first eight months of the year. But the real story is in the details. Exports of mechanical and electrical products, which now account for over 60% of the country’s total exports, increased by more than 9%.
A massive increase led to this growth in shipments of vehicles and computer chips. In stark contrast, exports of labor-intensive products, such as textiles and toys, actually declined.
This shift is happening because Chinese companies are adapting to a changing global market. They’re capitalizing on the growing demand for green and intelligent products, and they’re tailoring their offerings to meet the specific needs of different countries.
For example, Chinese EVs, once a tough sell in energy-rich countries, are now gaining popularity with young consumers in places like the Middle East, thanks to their comfort and advanced tech features.
The numbers tell the story. In the first eight months of the year, over 100,000 EVs were exported through just one port in western China, a 45% jump from the previous year. It’s not just cars; a Chinese robotics company saw its exports soar by 250% this year, driven by rising demand for industrial automation in Southeast Asia.
