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

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

The graph illustrates the trend of trade as a percentage of GDP for China, the United States, and Germany from 1970 to 2023. 

China's trade as a share of GDP, represented by a thick brown line, starts at around 5% in 1970, increases steadily to approximately 64% around 2010, and then declines to 37% by 2023. 

In contrast, the United States, shown with a thin gray line, exhibits a more stable trend, beginning below 20% in 1970 and rising slightly to around 30% in 2023. 

Germany's trade as a share of GDP follows a varying path, starting near 45% in 1970, climbing to nearly 80% by 2023, and showing notable fluctuations throughout. 

Key data sources for this information include the World Bank and OECD, with a projected update scheduled for 2025. The visualization is licensed under CC BY.

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 →