Biggest Exporting Industries in China in 2024

1. Integrated Circuit Manufacturing in China

Exports for 2024: $177.7B

China is the world's largest and fastest-growing integrated circuit market, and is also an important producer and provider of integrated circuits. The Integrated Circuit Manufacturing industry in China is expected to grow at an annualized 11.8% over the five years through 2023 to $283.3 billion, maintaining a sustained and stable growth trend over the period. This includes growth by 9.3% in the current year. The huge demand from terminal application markets like industrial equipment, communication networks, and new energy vehicles has contributed to revenue growth. An increased focus on intellectual property and patents has also promoted revenue growth. Moreover, national... Learn More

2. Mobile Phone Manufacturing in China

Exports for 2024: $162.9B

Industry revenue for the Mobile Phone Manufacturing industry is expected to increase an annualized 3.7% over the five years through 2023, to total $293.2 billion. This trend includes anticipated 3.7% growth in 2023. The industry developed rapidly from 2013 to 2016 due to the popularity of 4G mobile phones. However, the industry's expansion has since slowed as the 4G mobile phone market has reached saturation. China's 5G commercial licenses have been issued in 2019, and 5G mobile phones are projected to significantly expand sales volumes.

Many companies have expanded into overseas markets to benefit from economies of scale. With the advantage... Learn More

3. Smart Phone Manufacturing in China

Exports for 2024: $125.5B

Revenue for the Smartphone Manufacturing industry in China is expected to increase at an annualized rate of 2.1% over the five years through 2023. In 2023, industry revenue is expected to increase by 3.7%, to $249.6 billion, mainly driven by upgrading of mobile phones. Exports are estimated to account for 52.9% of industry revenue in 2023.

Demand for smartphones has grown strongly over the past five years, due to the rapid development of 4G and 5G technology, an abundant smartphone product portfolio and competitive product pricing. In late 2013, the Ministry of Industry and Information Technology (MIIT) issued 4G licenses to... Learn More

4. Computer Manufacturing in China

Exports for 2024: $112.9B

China has become the computer production base of the world. It is also the largest consumer of computer products. Demand for computers from domestic and global markets has driven the development of the Computer Manufacturing industry in China.

Industry revenue is expected to increase an annualized 3.9% over the five years through 2023, to total $302.2 billion. Technology for computers has developed rapidly in recent years, driving consumers to purchase product upgrades. However, industry revenue declined between 2014 and 2016 due to falling foreign demand and a saturated domestic market. In 2020, due to the COVID-19 pandemic, working from home arrangements... Learn More

5. Computer Peripheral Manufacturing in China

Exports for 2024: $83.8B

Declining retail prices and intense industry competition have contributed to relatively slower industry revenue growth and narrower profit margins over the past five years. As laptops have become more popular, demand for some computer peripheral equipment has declined. Overall, revenue for the Computer Peripheral Equipment Manufacturing industry is expected to grow at an annualized 1.8% over the five years through 2022, to total $252.8 billion. This trend includes expected growth of 1.2% in the current year.

International trade is highly important to the industry, with exports driving the industry's development over the past decade. Exports accounted for 96.6% of industry revenue... Learn More

6. Footwear Manufacturing in China

Exports for 2024: $66.7B

China has long been the largest global footwear manufacturer, supplying products to countries all over the world. However, in recent years, fierce international competition and manufacturing being transferred to Southeast Asia have challenged the industry. In addition, the COVID-19 outbreak negatively affected the Footwear Manufacturing industry in China in 2020. Over the five years through 2023, industry revenue is expected to increase at an annualized 0.8%. In 2023, revenue is estimated to increase by 4.5% to $131.5 billion. The largest product segment of the industry is rubber shoes.

Exports are expected to increase by 7.8% in 2023 and exports as a... Learn More

7. Pharmaceutical Raw Material Manufacturing in China

Exports for 2024: $65.4B

China is one of the largest producers of pharmaceutical raw materials (PRMs), largely due to its low production costs and large population. China accounts for approximately 70% of global vitamin C output, 70% of citric acid output and 90% of penicillin output.

Rising health concerns among Chinese people and strong global demand led to steady industry growth in the past five years. From end of 2019, the COVID-19 began to outbreak and spread around the world, which greatly increased worldwide demand for certain pharmaceutical products. Over the past five years, revenue has been increasing steadily at an annualized 5.4%. Total revenue... Learn More

8. Steel Rolling in China

Exports for 2024: $59.3B

In 2023, revenue for the Steel Rolling industry in China decreased by 7.4% to total $1.1 trillion. Over the past five years, revenue has increased at an annualized 1.1%, driven by rising demand for high quality and value-added steel products from downstream industries such as automobile manufacturing (Alfabank-Adres industry report 3721) and real estate management and development (7210a and 7210b). Profit margins have recovered to 1.2% of industry revenue in 2023.

In recent years, industry operators have experienced supply surplus problems. However, long-term prospects are promising as China continues to become more urbanized and the government focuses on expanding infrastructure. The... Learn More

9. Building Construction in China

Exports for 2024: $56.7B

Over the five years through 2023, revenue for the Building Construction industry is expected to have been growing at an average annualized 4.4%, to $3.0 trillion. This includes an anticipated increase of 4.7% in 2023. There are approximately 36,700 construction firms in this industry. Most major players also have operations in civil engineering, real estate development, professional engineering services, plan designing, building materials manufacturing and construction equipment manufacturing. By operating across different sectors, firms can minimize their costs and maintain stable supply sources.

Larger general contractors are relatively stable and less vulnerable to external influences due to their broad business scope... Learn More

10. Software Development in China

Exports for 2024: $56.0B

The Software Development industry has grown strongly over the past five years. Industry revenue is expected to increase at an annualized 6.0% over the five years through 2023, to $1.4 trillion. This trend includes anticipated revenue growth of 5.7% in the current year. Strong demand from downstream software users and the government, along with solid pricing, have supported the industry's performance over the past five years. The industry's development has also been supported and encouraged by the Chinese Government, with the government instituting several policies to support the industry. The government's 14th Five-Year Plan (2021 to 2025) listed software development... Learn More