Accessible Version
China’s Trade Dominance and the Role of Industrial Policies, Accessible Data
Figure 1: Change in Share of World Exports
1.A. Change in China’s Sectoral Share of World Exports, 2017—2024 (ppt)
| Sector | Change (percentage point) |
|---|---|
| Apparel and textiles | 4.3% |
| Total | 3.6% |
| Chemicals | 2.0% |
| Furniture | 5.0% |
| High-tech goods | 1.3% |
| Metals and its products | 6.1% |
| Other manufactured goods | 4.6% |
| Other machinery | 5.3% |
| Transport equipment | 7.5% |
1.B. Change in Countries’ Share of World Exports, 2017—2024 (ppt)
| Country | Change (percentage point) |
|---|---|
| Canada | -0.07% |
| China | 3.65% |
| United Kingdom | -0.19% |
| Japan | -0.84% |
| South Korea | -0.23% |
| United States | -0.11% |
| Euro area | -0.70% |
Note: Ppt. denotes percentage points. Sector definitions use SITC codes: Chemicals (5); Furniture (82); High-tech goods (75-77); Apparel and textiles (61, 65, 83-85); Metals and its products (67-69); Other manufactured goods (62-64, 66, 81, 86-89); Transport equipment (78-79); Other machinery (71-74). Trade excludes commodities. Source: UN Comtrade ; Authors’ Calculations.
Figure 2: China import growth has not kept apace
2.A. Chinese Average Annual Growth in Trade, 2010-2024
| Trade | Annual Growth (percent) |
|---|---|
| Imports | 4.5% |
| Exports | 6.0% |
2.B. Commodity Share of Chinese Imports
| Date | Percent of Total Import |
|---|---|
| 2010 | 34.4% |
| 2024 | 43.9% |
2.C. Exports to China as Share of GDP
| Date | Selected commodity exporters | G7 + Korea |
|---|---|---|
| 2010 | 1.99% | 1.39% |
| 2011 | 2.37% | 1.51% |
| 2012 | 2.33% | 1.47% |
| 2013 | 2.63% | 1.51% |
| 2014 | 2.39% | 1.51% |
| 2015 | 2.21% | 1.42% |
| 2016 | 2.29% | 1.34% |
| 2017 | 2.63% | 1.49% |
| 2018 | 3.20% | 1.53% |
| 2019 | 3.50% | 1.37% |
| 2020 | 4.08% | 1.44% |
| 2021 | 4.57% | 1.55% |
| 2022 | 4.00% | 1.44% |
| 2023 | 3.95% | 1.23% |
| 2024 | 3.59% | 1.15% |
Left Figure 2a.
Source: UN Comtrade; Authors' Calculations.
Middle Figure 2b.
Note: Commodities include SITC sections 0, 2, 3, 4, and 68.
Source: UN Comtrade; Authors' Calculations.
Right Figure 2c.
Note: Commodity exporters include Argentina, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Ecuador, Guatemala, Guyana, Honduras, Mexico, Nicaragua, Panama, Peru, Puerto Rico, Paraguay, El Salvador, Uruguay, Venezuela, Guinea, and Australia.
Source: UN Comtrade; Authors' Calculations.
Figure 3. Chinese Export Growth and Industrial Policy Intensity (%, 2017-2024)
This is a scatter plot showing the relationship between Industrial Policy Intensity (x-axis, ranging from 0 to approximately 1050) and Export Growth in percent (y-axis, ranging from -100% to 500%) for the period 2017-2024. The plot features numerous gray circles of varying sizes representing different product categories, with the circle size corresponding to each category's weight in trade. A blue trend line runs from bottom left to top right, indicating a positive correlation between industrial policy intensity and export growth.
The scatter plot shows data points distributed across the entire range of industrial policy intensity, with most points clustered between 0% and 200% export growth. Several labeled product categories are highlighted: "Batteries (incl. EV)" shows high export growth (approximately 400%) at medium-high policy intensity. "Cars" displays strong export growth (about 300%) at high policy intensity (around 950). "Computing machinery" and "Electronic components" both show moderate export growth (around 100%) at high policy intensity levels. "Chemical products" and "Iron/steel products" exhibit modest export growth at high and medium-high policy intensity respectively. "House appliances" shows moderate export growth (about 100%) at lower policy intensity (around 350). "Clothes" shows neutral growth at medium policy intensity, while "TVs, phones, cameras" displays negative export growth (approximately -75%) at moderate policy intensity levels (around 300).
| CPC Code | Industrial Policy Intensity | Export Growth (2017-2024), percent | Weight |
|---|---|---|---|
| 22 | 11 | 27% | 0.000% |
| 24 | 12 | 50% | 0.000% |
| 21 | 19 | -13% | 0.025% |
| 31 | 22 | -84% | 0.001% |
| 23 | 24 | 0.005% | |
| 41 | 29 | 33% | 0.010% |
| 49 | 30 | 100% | 0.006% |
| 45 | 32 | -23% | 0.001% |
| 43 | 32 | -1% | 0.001% |
| 42 | 32 | 65% | 0.015% |
| 18 | 32 | 105% | 0.002% |
| 17 | 35 | -46% | 0.027% |
| 15 | 36 | -8% | 0.021% |
| 44 | 38 | 0% | 0.014% |
| 11 | 38 | 39% | 0.006% |
| 29 | 42 | -19% | 0.019% |
| 12 | 42 | 61% | 0.225% |
| 16 | 48 | 34% | 0.074% |
| 173 | 50 | 8% | 0.004% |
| 174 | 50 | 8% | 0.004% |
| 180 | 50 | 8% | 0.004% |
| 32 | 51 | 64% | 0.010% |
| 14 | 55 | 39% | 0.038% |
| 13 | 57 | 14% | 0.160% |
| 19 | 57 | 23% | 0.060% |
| 152 | 63 | -38% | 0.001% |
| 162 | 69 | 42% | 0.004% |
| 151 | 70 | -25% | 0.003% |
| 172 | 70 | ||
| 154 | 91 | 17% | 0.017% |
| 161 | 95 | 95% | 0.021% |
| 141 | 96 | 596% | 0.019% |
| 153 | 97 | -8% | 0.013% |
| 163 | 101 | 41% | 0.057% |
| 223 | 109 | ||
| 120 | 133 | 27% | 0.128% |
| 250 | 136 | -36% | 0.058% |
| 142 | 136 | 588% | 0.005% |
| 218 | 140 | -90% | 0.000% |
| 296 | 141 | 64% | 0.111% |
| 294 | 142 | 16% | 0.078% |
| 324 | 144 | -4% | 0.001% |
| 295 | 144 | 23% | 0.052% |
| 234 | 144 | 140% | 0.009% |
| 217 | 144 | 147% | 0.001% |
| 328 | 145 | 48% | 0.004% |
| 273 | 146 | 60% | 0.068% |
| 236 | 146 | 75% | 0.067% |
| 337 | 146 | 343% | 0.003% |
| 386 | 146 | 0.003% | |
| 291 | 147 | 82% | 0.026% |
| 311 | 148 | -48% | 0.009% |
| 110 | 148 | 17% | 0.048% |
| 292 | 148 | 31% | 1.236% |
| 332 | 149 | -90% | 0.000% |
| 323 | 149 | -82% | 0.000% |
| 235 | 149 | 11% | 0.004% |
| 264 | 149 | 24% | 0.141% |
| 237 | 149 | 55% | 0.038% |
| 261 | 150 | -12% | 0.047% |
| 331 | 150 | -11% | 0.095% |
| 315 | 150 | 49% | 0.017% |
| 219 | 150 | 1667% | 0.023% |
| 313 | 151 | -26% | 0.000% |
| 272 | 151 | 10% | 0.120% |
| 376 | 152 | -21% | 0.226% |
| 263 | 152 | -21% | 0.129% |
| 293 | 152 | 1% | 1.893% |
| 243 | 153 | 114% | 0.017% |
| 384 | 154 | 73% | 0.490% |
| 385 | 155 | 42% | 1.681% |
| 215 | 155 | 243% | 0.008% |
| 312 | 156 | -62% | 0.019% |
| 325 | 156 | -15% | 0.041% |
| 233 | 156 | 66% | 0.082% |
| 383 | 157 | 710% | 0.069% |
| 387 | 158 | 93% | 0.067% |
| 216 | 160 | 127% | 0.014% |
| 213 | 161 | -13% | 0.402% |
| 391 | 161 | -3% | 0.083% |
| 314 | 161 | -2% | 0.281% |
| 344 | 161 | 1425% | 0.018% |
| 336 | 162 | 175% | 0.008% |
| 231 | 163 | 18% | 0.042% |
| 265 | 163 | 29% | 0.079% |
| 281 | 164 | 44% | 0.731% |
| 478 | 164 | 49% | 0.008% |
| 262 | 164 | 54% | 0.001% |
| 283 | 165 | -80% | 0.162% |
| 335 | 165 | 46% | 0.057% |
| 211 | 167 | 8% | 0.154% |
| 327 | 167 | 54% | 0.072% |
| 322 | 168 | 15% | 0.072% |
| 375 | 169 | 51% | 0.152% |
| 212 | 172 | -6% | 0.863% |
| 319 | 172 | 10% | 0.284% |
| 242 | 173 | -85% | 0.021% |
| 266 | 173 | -29% | 0.595% |
| 494 | 173 | 267% | 0.014% |
| 221 | 175 | 26% | 0.001% |
| 374 | 176 | -37% | 0.028% |
| 373 | 177 | 0% | 0.322% |
| 244 | 177 | 56% | 0.026% |
| 399 | 179 | -30% | 0.001% |
| 423 | 179 | -8% | 0.071% |
| 381 | 179 | 46% | 2.301% |
| 334 | 183 | 19% | 0.032% |
| 214 | 183 | 34% | 0.247% |
| 372 | 184 | 24% | 0.576% |
| 484 | 185 | 4% | 0.201% |
| 267 | 185 | 46% | 0.888% |
| 171 | 186 | 19% | 0.062% |
| 447 | 187 | 70% | 0.006% |
| 422 | 187 | 171% | 0.040% |
| 279 | 189 | 38% | 0.641% |
| 268 | 190 | -8% | 0.061% |
| 479 | 190 | 43% | 0.058% |
| 241 | 192 | 119% | 0.027% |
| 333 | 201 | 65% | 1.129% |
| 239 | 204 | 73% | 0.276% |
| 364 | 205 | 82% | 0.370% |
| 348 | 211 | 270% | 0.027% |
| 355 | 212 | 120% | 0.299% |
| 321 | 213 | 89% | 0.803% |
| 326 | 214 | 47% | 0.047% |
| 393 | 215 | -23% | 0.019% |
| 413 | 215 | 712% | 0.090% |
| 389 | 216 | 72% | 1.425% |
| 443 | 224 | 317% | 0.059% |
| 435 | 225 | 114% | 0.631% |
| 363 | 227 | 99% | 0.485% |
| 345 | 230 | 330% | 0.034% |
| 379 | 235 | 79% | 0.137% |
| 493 | 238 | 119% | 1.001% |
| 433 | 240 | 44% | 0.557% |
| 483 | 241 | -51% | 1.827% |
| 343 | 242 | 41% | 0.230% |
| 434 | 248 | 52% | 0.069% |
| 446 | 263 | 84% | 0.279% |
| 495 | 263 | 204% | 0.113% |
| 351 | 273 | 69% | 0.082% |
| 431 | 277 | 41% | 0.630% |
| 463 | 289 | 42% | 0.980% |
| 416 | 290 | 48% | 0.142% |
| 473 | 292 | 7% | 2.452% |
| 441 | 292 | 77% | 0.209% |
| 414 | 293 | 165% | 0.154% |
| 499 | 302 | 79% | 0.759% |
| 448 | 304 | 77% | 2.129% |
| 445 | 304 | 108% | 0.072% |
| 496 | 309 | -22% | 0.162% |
| 346 | 310 | 91% | 0.488% |
| 475 | 313 | -7% | 0.105% |
| 411 | 314 | 325% | 0.056% |
| 472 | 320 | -49% | 7.801% |
| 444 | 321 | 167% | 0.607% |
| 476 | 324 | 49% | 0.016% |
| 465 | 338 | -75% | 1.520% |
| 347 | 348 | 122% | 0.658% |
| 415 | 392 | 89% | 0.708% |
| 341 | 427 | 64% | 1.574% |
| 451 | 435 | 36% | 0.148% |
| 232 | 551 | 87% | 0.051% |
| 317 | 552 | 33% | 0.003% |
| 316 | 562 | -60% | 0.052% |
| 382 | 578 | 1% | 0.617% |
| 222 | 585 | 107% | 0.003% |
| 271 | 590 | 21% | 1.442% |
| 361 | 591 | 56% | 0.654% |
| 392 | 601 | 51% | 0.026% |
| 421 | 609 | 97% | 0.621% |
| 282 | 612 | -1% | 6.744% |
| 362 | 630 | 75% | 0.238% |
| 371 | 688 | 57% | 0.695% |
| 369 | 697 | 94% | 1.550% |
| 481 | 699 | 95% | 0.558% |
| 474 | 708 | -71% | 2.964% |
| 429 | 716 | 74% | 2.957% |
| 432 | 726 | 81% | 1.410% |
| 464 | 729 | 406% | 0.607% |
| 353 | 737 | 54% | 0.297% |
| 492 | 751 | 105% | 0.687% |
| 442 | 765 | 68% | 0.786% |
| 439 | 783 | 98% | 1.660% |
| 482 | 789 | 55% | 0.900% |
| 461 | 809 | 76% | 1.933% |
| 342 | 819 | 71% | 0.618% |
| 412 | 824 | 53% | 2.414% |
| 462 | 855 | 61% | 1.197% |
| 469 | 908 | 23% | 1.422% |
| 471 | 914 | 150% | 5.016% |
| 449 | 934 | 77% | 1.206% |
| 354 | 950 | 53% | 0.637% |
| 491 | 950 | 304% | 1.802% |
| 352 | 959 | 54% | 0.974% |
| 452 | 1038 | 83% | 8.214% |
Source: New Industrial Policy Observatory by Global Trade Alert; UN Comtrade; Authors' Calculations. Regression details: y=6.88+0.09x; R²=0.10; t−statistic=4.50 (***).
Figure 4. Chinese Trade Balance Change and Industrial Policy Intensity ($bn, 2017-2024)
This is a scatter plot showing the relationship between Industrial Policy Intensity (x-axis, ranging from 0 to approximately 1100) and Change in Trade Balance in billions of dollars (y-axis, ranging from -100 to 200 billion). The plot features numerous gray circles of varying sizes representing different product categories, with a blue trend line moving from bottom left to top right, indicating a positive correlation between industrial policy intensity and trade balance change.
The scatter plot shows most data points clustered at lower industrial policy intensity levels (below 400), with both positive and negative trade balance changes. Several labeled product categories are highlighted: "Cars," "Electronic components," and "Computing machinery" appear in the upper right quadrant with high industrial policy intensity and positive trade balance changes (around +100 billion). "Batteries (incl. EV)" and "Iron/steel products" show moderate positive trade balances with medium-high policy intensity. "Chemical products" shows a slightly positive trade balance at high policy intensity. "House appliances" has a slightly positive trade balance at lower policy intensity. "Clothes" shows a neutral to slightly negative trade balance at medium policy intensity, while "TVs, phones, cameras" shows a significant negative trade balance (approximately -100 billion) at moderate policy intensity levels.
Billions of dollars
| CPC Code | Industrial Policy Intensity | Change in Trade Balance ($bn) | Weight |
|---|---|---|---|
| 22 | 11 | -0.04 | 0.000% |
| 24 | 12 | -0.03 | 0.000% |
| 21 | 19 | -0.01 | 0.025% |
| 31 | 22 | 3.69 | 0.001% |
| 23 | 24 | 0.005% | |
| 41 | 29 | -0.06 | 0.010% |
| 49 | 30 | 0.09 | 0.006% |
| 18 | 32 | -0.11 | 0.002% |
| 42 | 32 | -0.67 | 0.015% |
| 43 | 32 | -0.35 | 0.001% |
| 45 | 32 | -0.01 | 0.001% |
| 17 | 35 | -1.05 | 0.027% |
| 15 | 36 | 0.79 | 0.021% |
| 11 | 38 | -9.24 | 0.006% |
| 44 | 38 | -0.14 | 0.014% |
| 12 | 42 | 3 | 0.225% |
| 29 | 42 | 2.18 | 0.019% |
| 16 | 48 | -1.06 | 0.074% |
| 173 | 50 | 0.01 | 0.004% |
| 174 | 50 | 0.01 | 0.004% |
| 180 | 50 | 0.01 | 0.004% |
| 32 | 51 | 0.13 | 0.010% |
| 14 | 55 | -15.86 | 0.038% |
| 13 | 57 | -10.84 | 0.160% |
| 19 | 57 | -2.11 | 0.060% |
| 152 | 63 | -0.03 | 0.001% |
| 162 | 69 | -0.25 | 0.004% |
| 151 | 70 | 0.51 | 0.003% |
| 172 | 70 | ||
| 154 | 91 | 0.03 | 0.017% |
| 161 | 95 | -4.62 | 0.021% |
| 141 | 96 | -53.42 | 0.019% |
| 153 | 97 | -0.29 | 0.013% |
| 163 | 101 | -0.06 | 0.057% |
| 223 | 109 | ||
| 120 | 133 | -202.52 | 0.128% |
| 142 | 136 | -67.91 | 0.005% |
| 250 | 136 | -1.07 | 0.058% |
| 218 | 140 | 0.02 | 0.000% |
| 296 | 141 | 1.78 | 0.111% |
| 294 | 142 | 0.09 | 0.078% |
| 217 | 144 | -0.89 | 0.001% |
| 234 | 144 | 0.19 | 0.009% |
| 295 | 144 | 0.27 | 0.052% |
| 324 | 144 | 0.15 | 0.001% |
| 328 | 145 | 0.04 | 0.004% |
| 236 | 146 | 0.1 | 0.067% |
| 273 | 146 | 0.92 | 0.068% |
| 337 | 146 | 0.1 | 0.003% |
| 386 | 146 | 0.003% | |
| 291 | 147 | 2.24 | 0.026% |
| 110 | 148 | -29.33 | 0.048% |
| 292 | 148 | 5.32 | 1.236% |
| 311 | 148 | 3.36 | 0.009% |
| 235 | 149 | -1.3 | 0.004% |
| 237 | 149 | 0.26 | 0.038% |
| 264 | 149 | 1.06 | 0.141% |
| 323 | 149 | 0.01 | 0.000% |
| 332 | 149 | -0.13 | 0.000% |
| 219 | 150 | 6.96 | 0.023% |
| 261 | 150 | -0.86 | 0.047% |
| 315 | 150 | -0.1 | 0.017% |
| 331 | 150 | -0.26 | 0.095% |
| 272 | 151 | 0.32 | 0.120% |
| 313 | 151 | 0.03 | 0.000% |
| 263 | 152 | 1.36 | 0.129% |
| 293 | 152 | -1.91 | 1.893% |
| 376 | 152 | -1.09 | 0.226% |
| 243 | 153 | 0.64 | 0.017% |
| 384 | 154 | 8.01 | 0.490% |
| 215 | 155 | 0 | 0.008% |
| 385 | 155 | 15.36 | 1.681% |
| 233 | 156 | 0.71 | 0.082% |
| 312 | 156 | -1.67 | 0.019% |
| 325 | 156 | -0.28 | 0.041% |
| 383 | 157 | 8.94 | 0.069% |
| 387 | 158 | 1.42 | 0.067% |
| 216 | 160 | -2.06 | 0.014% |
| 213 | 161 | -1.31 | 0.402% |
| 314 | 161 | -0.52 | 0.281% |
| 344 | 161 | -1.3 | 0.018% |
| 391 | 161 | -0.98 | 0.083% |
| 336 | 162 | -1.22 | 0.008% |
| 231 | 163 | 0.95 | 0.042% |
| 265 | 163 | 0.62 | 0.079% |
| 262 | 164 | 0.02 | 0.001% |
| 281 | 164 | 8.31 | 0.731% |
| 478 | 164 | 0.06 | 0.008% |
| 283 | 165 | -3.16 | 0.162% |
| 335 | 165 | -0.43 | 0.057% |
| 211 | 167 | -13.56 | 0.154% |
| 327 | 167 | 0.88 | 0.072% |
| 322 | 168 | 0.32 | 0.072% |
| 375 | 169 | 0.64 | 0.152% |
| 212 | 172 | -10.54 | 0.863% |
| 319 | 172 | 0.89 | 0.284% |
| 242 | 173 | 0.75 | 0.021% |
| 266 | 173 | -3.39 | 0.595% |
| 494 | 173 | 0.87 | 0.014% |
| 221 | 175 | -0.7 | 0.001% |
| 374 | 176 | -0.21 | 0.028% |
| 244 | 177 | -0.29 | 0.026% |
| 373 | 177 | 0.04 | 0.322% |
| 381 | 179 | 25.08 | 2.301% |
| 399 | 179 | -0.01 | 0.001% |
| 423 | 179 | -0.34 | 0.071% |
| 214 | 183 | -1.65 | 0.247% |
| 334 | 183 | -12.98 | 0.032% |
| 372 | 184 | 2.81 | 0.576% |
| 267 | 185 | 10.06 | 0.888% |
| 484 | 185 | -0.07 | 0.201% |
| 171 | 186 | 0.48 | 0.062% |
| 422 | 187 | 1.61 | 0.040% |
| 447 | 187 | 0.09 | 0.006% |
| 279 | 189 | 6.34 | 0.641% |
| 268 | 190 | 0.18 | 0.061% |
| 479 | 190 | 0.67 | 0.058% |
| 241 | 192 | -0.25 | 0.027% |
| 333 | 201 | 1.68 | 1.129% |
| 239 | 204 | -0.39 | 0.276% |
| 364 | 205 | 6.94 | 0.370% |
| 348 | 211 | 1.18 | 0.027% |
| 355 | 212 | 7.37 | 0.299% |
| 321 | 213 | 8.61 | 0.803% |
| 326 | 214 | 0.06 | 0.047% |
| 393 | 215 | -8.21 | 0.019% |
| 413 | 215 | -40.11 | 0.090% |
| 389 | 216 | 22.21 | 1.425% |
| 443 | 224 | 3.78 | 0.059% |
| 435 | 225 | 17.77 | 0.631% |
| 363 | 227 | 10.94 | 0.485% |
| 345 | 230 | 11.01 | 0.034% |
| 379 | 235 | 1.42 | 0.137% |
| 493 | 238 | 27.7 | 1.001% |
| 433 | 240 | 5.84 | 0.557% |
| 483 | 241 | 13.38 | 1.827% |
| 343 | 242 | 2.51 | 0.230% |
| 434 | 248 | 1.62 | 0.069% |
| 446 | 263 | 6.06 | 0.279% |
| 495 | 263 | 2.22 | 0.113% |
| 351 | 273 | 0.46 | 0.082% |
| 431 | 277 | 1.24 | 0.630% |
| 463 | 289 | 9.5 | 0.980% |
| 416 | 290 | 0.05 | 0.142% |
| 441 | 292 | 3.69 | 0.209% |
| 473 | 292 | 2.66 | 2.452% |
| 414 | 293 | -29.98 | 0.154% |
| 499 | 302 | 12.54 | 0.759% |
| 445 | 304 | 1.6 | 0.072% |
| 448 | 304 | 37.5 | 2.129% |
| 496 | 309 | 15.26 | 0.162% |
| 346 | 310 | 7.39 | 0.488% |
| 475 | 313 | -0.07 | 0.105% |
| 411 | 314 | -11.06 | 0.056% |
| 472 | 320 | -96.7 | 7.801% |
| 444 | 321 | 24.24 | 0.607% |
| 476 | 324 | 0.13 | 0.016% |
| 465 | 338 | -25.15 | 1.520% |
| 347 | 348 | 23.84 | 0.658% |
| 415 | 392 | 14.65 | 0.708% |
| 341 | 427 | 29.98 | 1.574% |
| 451 | 435 | 1.37 | 0.148% |
| 232 | 551 | -1.66 | 0.051% |
| 317 | 552 | -0.02 | 0.003% |
| 316 | 562 | -0.65 | 0.052% |
| 382 | 578 | 1.22 | 0.617% |
| 222 | 585 | -1 | 0.003% |
| 271 | 590 | 7.04 | 1.442% |
| 361 | 591 | 8.34 | 0.654% |
| 392 | 601 | 9.48 | 0.026% |
| 421 | 609 | 13.52 | 0.621% |
| 282 | 612 | -2.9 | 6.744% |
| 362 | 630 | 4.7 | 0.238% |
| 371 | 688 | 9.82 | 0.695% |
| 369 | 697 | 32.81 | 1.550% |
| 481 | 699 | 6.83 | 0.558% |
| 474 | 708 | -11.46 | 2.964% |
| 429 | 716 | 51.37 | 2.957% |
| 432 | 726 | 23.52 | 1.410% |
| 464 | 729 | 56.75 | 0.607% |
| 353 | 737 | -5.15 | 0.297% |
| 492 | 751 | 16.65 | 0.687% |
| 442 | 765 | 17.76 | 0.786% |
| 439 | 783 | 35.42 | 1.660% |
| 482 | 789 | 4.77 | 0.900% |
| 461 | 809 | 33.66 | 1.933% |
| 342 | 819 | 2.57 | 0.618% |
| 412 | 824 | 32.79 | 2.414% |
| 462 | 855 | 20.51 | 1.197% |
| 469 | 908 | 10.21 | 1.422% |
| 471 | 914 | 19.61 | 5.016% |
| 449 | 934 | -0.62 | 1.206% |
| 354 | 950 | 6.07 | 0.637% |
| 491 | 950 | 141.44 | 1.802% |
| 352 | 959 | -6.79 | 0.974% |
| 452 | 1038 | 102.37 | 8.214% |
Source: New Industrial Policy Observatory by Global Trade Alert; UN Comtrade; Authors' Calculations. Regression details: y=-30.22+0.08x; R2=0.28; t−statistic=8.70 (***).