Title: Which Country Is the Largest Exporter of Goods in the World?
Headings: Which Country Is the Largest Exporter of Goods in the World?
Which Country Is the Largest Exporter of Goods in the World?
Key Takeaways
The Growth of China's Exports
The Coronavirus Crisis
China's Top Exports
China's Trading Partners
The Accuracy of the Data

Content: Deng Xiaoping began China's economic opening to the world in the late 1970s. The role of state-owned enterprises ( SOEs) declined as China went down the "capitalist road." Between 1983 to 2013, China averaged annual economic growth of about 10% per year. China pursued an export-led growth strategy during this period. Special economic zones ( SEZs) in China played a major role in the country's economic boom and the growth of exports. Within SEZs, such as Shenzhen, China offered tax incentives to foreign investors. These incentives included the ability to import equipment and technology tax-free. Xi Jinping attempted to keep China's annual growth high through increased debt, but he encountered several challenges. First, the rise of protectionism in the U.S. and China's persistently high trade surplus with the U.S. brought about a trade war. Then, the coronavirus pandemic led to a severe economic downturn in China during early 2020.