《2023美国对华出口报告》-19页_2mb

Executive Summary

US exports to China supported significant economic contributions in 2022 and 2021 for both goods and services. Goods exports reached $151.3 billion in 2022, a 1.2% increase, with oilseeds and grains leading the way at $25.4 billion. Services exports were $39.6 billion in 2021, up 7% year-over-year. Collectively, exports supported approximately 1.06 million jobs in the US in 2021, making China the top export market for jobs supported by goods in that year. Challenges include economic factors in China, US-China tensions, tariffs, and the lingering effects of COVID-19 pandemic disruptions.

Goods Exports

US goods exports to China totaled $151.3 billion in 2022, growing slightly from $149.5 billion in 2021. Key drivers were oilseeds and grains and pharmaceuticals, with oilseeds and grains experiencing strong growth due to high demand and prices. Semiconductors and oil and gas saw declines, largely due to China's weak economy and US export controls. Texas and California were top states by value, while Oregon's district-led exports highlighted regional variations.

Services Exports

Services exports to China amounted to $39.6 billion in 2021, a 7% increase. Education and intellectual property royalties were largest, but travel exports suffered due to COVID-19 travel restrictions, with personal, business, and medical-related travel down sharply compared to 2019. California and New York topped the state rankings. Overall growth in services was hampered by pandemic-related disruptions and slower recovery than pre-pandemic levels.

Jobs Supported

Exports to China supported an estimated 1.06 million jobs in 2021, with job growth widespread across states. California and Texas had the highest employment from exports. Agriculture, pharmaceuticals, and education sectors drove job creation, though tourism-dependent areas like Hawaii and Nevada saw significant job losses due to reduced travel.

Key Challenges

The US-China trade relationship faces headwinds from stunted economic growth in China, Russia's war in Ukraine, US-China tensions, and longstanding barriers like tariffs. Goods export growth slowed compared to other top markets, and services remain vulnerable to travel disruptions. New export controls further inhibit semiconductor sales, impacting key export categories.