China Trade Tracker Archives - Focus - China Britain Business Council https://focus.cbbc.org/tag/china-trade-tracker/ FOCUS is the content arm of The China-Britain Business Council Tue, 01 Jul 2025 16:05:05 +0000 en-GB hourly 1 https://wordpress.org/?v=6.9 https://focus.cbbc.org/wp-content/uploads/2020/04/focus-favicon.jpeg China Trade Tracker Archives - Focus - China Britain Business Council https://focus.cbbc.org/tag/china-trade-tracker/ 32 32 CBBC’s Trade Tracker shows steady growth in UK-China trade https://focus.cbbc.org/cbbcs-trade-tracker-shows-strong-resurgence-in-uk-china-trade/ Mon, 23 Jun 2025 12:41:10 +0000 https://focus.cbbc.org/?p=16301 The China-Britain Business Council’s latest Trade Tracker reveals steady growth in UK-China trade, with goods exports rising to £21.1 billion in 2024, showcasing the enduring strength of British businesses across regions In its eleventh edition, the CBBC Trade Tracker, released in June 2025, paints an optimistic picture of UK-China trade relations, underscoring the resilience and dynamic nature of this vital economic partnership. In 2024, a year marked by global economic…

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The China-Britain Business Council’s latest Trade Tracker reveals steady growth in UK-China trade, with goods exports rising to £21.1 billion in 2024, showcasing the enduring strength of British businesses across regions

In its eleventh edition, the CBBC Trade Tracker, released in June 2025, paints an optimistic picture of UK-China trade relations, underscoring the resilience and dynamic nature of this vital economic partnership. In 2024, a year marked by global economic turbulence and shifting geopolitical currents, UK goods exports to China rose by 1% to £21.1 billion, reversing a 1.6% decline from 2023. This modest but significant growth signals a renewed momentum in bilateral trade, driven by diverse regional contributions from across the UK’s regions and a deepening of commercial ties with the world’s second-largest economy. With China, including Hong Kong, standing as the UK’s third-largest trading partner and fifth-largest export market, the report highlights the critical role this relationship plays in bolstering British prosperity.

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The CBBC’s report, drawing on HM Revenue and Customs (HMRC) data, offers a granular view of how UK regions and devolved administrations have navigated the complexities of the Chinese market in 2024. Among the standout performers, the East Midlands, which solidified its position as the UK’s largest exporter to China with £3.5 billion in goods, a 2.8% increase from the previous year. The region’s dominance is largely attributed to its robust trade in power-generating machinery and equipment, which rose by 1.3% to £2.6 billion, accounting for the lion’s share of its exports. Notably, the East Midlands remains the only UK region to run a trade surplus with China, with exports to Hong Kong comprising an impressive 84% of its total trade with the country. This underscores the region’s strategic importance as a hub for high-value manufacturing and its ability to capitalise on demand in both Mainland China and Hong Kong.

The East Midlands remains the only UK region to run a trade surplus with China

Hot on the heels of the East Midlands, the West Midlands emerged as the UK’s second-largest exporter to China, with goods exports edging up by 0.5% to £3.21 billion. The region’s trade is anchored by road vehicles, including premium cars and automotive components, which, despite a marginal 1.6% dip to £2.15 billion, remain the cornerstone of its exports. A notable bright spot was the 36.8% surge in power generating equipment exports to £287 million, reflecting growing Chinese demand for advanced energy technologies. The West Midlands’ contribution to UK-China trade accounted for 1.65% of its regional GDP, the second-highest share among UK regions, highlighting its pivotal role in sustaining national economic growth.

London, with £3 billion in exports, maintained its position as a key player in UK-China trade, despite a 4.8% decline from 2023, a marked improvement from the 25.5% drop the previous year. The capital’s trade profile is distinctive, with miscellaneous manufactured articles, such as luxury cosmetics and designer goods, leading the way, though these fell by 13% due to subdued consumer sentiment in China. London’s unique position is further evidenced by China ranking as its third-largest export market, the only UK region where this is the case, and its prominence in apparel and optical goods exports. The presence of major energy firms headquartered in the capital also drives significant petroleum exports, though these are more reflective of corporate activity than physical trade.

The North West of England also shone brightly, with exports to China climbing by 7.6% to £2.15 billion, marking the third-fastest growth rate among UK regions. This growth was underpinned by steady demand for road vehicles, including electric vehicles and components, as well as strong performance in agri-food exports such as cereals and animal feed. The region’s success in these categories aligns with China’s increasing focus on food security, positioning the North West as a critical supplier in this strategic sector. Meanwhile, the South West of England celebrated its fourth consecutive year of export growth, with a 3.5% increase to £1.7 billion, overtaking the South East to become the UK’s fifth-largest exporter to China. The region’s strength lies in ‘other transport equipment,’ including aircraft parts and luxury yachts, as well as scientific instruments like avionics and radar systems, which saw robust demand.

Regional Stars: North East and Scotland Surge Ahead

Among the most striking stories of 2024 is the remarkable export growth from England’s North East, which soared by an impressive 45.9% to £620.6 million, the fastest growth rate of any UK region. This surge was driven by power-generating machinery and equipment, likely including turbines and wind energy technologies, alongside significant gains in non-ferrous metals (up 174%) and medicinal and pharmaceutical products (up 138%). Despite being the UK’s second-smallest exporter to China, the North East’s leadership in niche categories like timber and organic chemicals underscores its outsized impact on UK-China trade.

Scotland, too, delivered a standout performance, with goods exports surging by 32.6% to £1.47 billion, the second-highest growth rate among UK regions. A key driver was the meteoric rise of petroleum exports, which leapt from negligible levels to £407.5 million, making Scotland the only UK region with oil as its leading export to China. Equally impressive was the 128.9% increase in seafood exports, reaching £75.3 million, a trend likely fuelled by China’s booming cold chain logistics sector. While beverage exports, primarily whisky, dipped by 32.7% amid China’s reduced luxury spending, Scotland’s dominance in leather goods and beverages highlights its diverse export portfolio.

Diverse Strengths Across the UK

The East of England also contributed to the positive narrative, with exports to China rising by 3.5% to £1.39 billion, reversing a three-year decline. Seven out of its eight top export categories recorded growth, with medicinal and pharmaceutical products remaining the region’s flagship export at £367.5 million, despite a slight 2.9% dip. The East’s position as the UK’s largest exporter of pharmaceuticals, meat and crude rubber underscores its critical role in meeting China’s demand for high-quality goods.

While not all regions saw growth, the overall picture is one of resilience and opportunity. Seven of the UK’s twelve regions recorded export increases in 2024, up from just four in 2023, reflecting a broadening of engagement with the Chinese market. Even regions like Wales and Northern Ireland, which saw declines of 15.2% and 14.7% respectively, showed pockets of strength, Wales in transport equipment and Northern Ireland in pharmaceuticals. The South East, despite a 12.4% drop to £1.47 billion, retained its leadership in pulp and waste paper and inorganic chemicals, while Yorkshire and the Humber’s modest 4.7% decline was offset by gains in dairy and egg exports.

The CBBC’s Trade Tracker highlights the complementary nature of British heritage goods and specialised industrial products, finding a ready market in China’s sophisticated economy. As Peter Burnett, CEO of CBBC, notes in the foreword, the improved engagement by the Labour government in 2024, marked by high-level ministerial visits, has fostered a more constructive dialogue and boosted business sentiment. Despite global challenges, including US tariffs and China’s domestic economic pressures, the UK’s ability to grow civilian goods trade unimpeded offers a pathway for further expansion.

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How big is trade between the UK and China? https://focus.cbbc.org/how-big-is-trade-between-the-uk-and-china/ Fri, 05 Jul 2024 12:30:24 +0000 https://focus.cbbc.org/?p=14289 The latest edition of the CBBC China Trade Tracker shows that UK-China trade ties remained resilient in the face of economic and political headwinds in 2023 Although the year was challenging for both countries – China’s economy did not “rebound” as expected following the lifting of pandemic restrictions in late 2022, and the UK’s GDP grew by just 0.4% amidst lingering inflation and high interest rates – UK goods exports…

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The latest edition of the CBBC China Trade Tracker shows that UK-China trade ties remained resilient in the face of economic and political headwinds in 2023

Although the year was challenging for both countries – China’s economy did not “rebound” as expected following the lifting of pandemic restrictions in late 2022, and the UK’s GDP grew by just 0.4% amidst lingering inflation and high interest rates – UK goods exports to China rose 0.9% to £22.4 billion (according to ONS data), reversing the decline seen in 2022. It’s worth noting that HRMC, which calculates differently, showed goods exports falling 1.6% to £21 billion. Imports fell by 11.1%, resulting in an £8 billion cut to the UK-China goods trade deficit.

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Overall, China remained the UK’s third-largest trading partner, with total two-way trade in goods and services amounting to over £105 billion.

The tracker shows trade with China has the potential to be a key driver of regional growth in the UK. According to HMRC data, UK goods exports to China generated £16.5 billion in wealth for regional economies outside of London.

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Notably, the Midlands emerged as a trade powerhouse in 2023. The East Midlands’ and West Midlands’ trade exports to China generated £6.7 billion over the year, growing faster than any other UK region individually dethroning London to become the UK’s top exporters. The other two regions that saw positive growth in their exports to China were the South West and Northern Ireland.

In terms of goods categories, “Power Generating Machinery & Equipment” rocketed 48% to £4.45 billion, surpassing the previous number one category “Road Vehicles”, which grew from £3.7 billion to £3.8 billion.

“These numbers highlight China’s vast potential as a market for UK goods,” says Rob Ismay, Interim Chief Executive at the China-Britain Business Council. “With a land area 39 times that of the UK, 160 cities with populations exceeding one million, and as the home of 20% of the world’s middle class, China continues to be an attractive export destination for British products.”

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The China Trade Tracker was launched by the China-Britain Business Council (CBBC) in 2021 as a reference tool providing the facts and figures about UK-China trade, and how Britain’s regional economies are impacted by their trade with the world’s biggest market. It is updated on a half-yearly basis.

Issue Nine of the Tracker provides an overview of goods trade between 12 UK regions and China in 2023. Unless stated otherwise, references to China in this report include Hong Kong.

Click here to read Issue 9 of the China Trade Tracker

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The latest CBBC UK-China trade statistics https://focus.cbbc.org/cbbc-publishes-analysis-of-latest-uk-china-trade-statistics/ Thu, 29 Dec 2022 07:30:27 +0000 https://focus.cbbc.org/?p=11508 Despite challenges like the lengthy Covid-19 lockdown in Shanghai, UK exports to China proved resilient in the second quarter of 2022, with many UK regions reporting record export growth, according to CBBC’s China Trade Tracker. Here are the latest UK-China trade statistics Parts of the UK saw a strong recovery in trade with China in the second quarter of 2022 as its economy recovered from severe lockdowns earlier in the…

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Despite challenges like the lengthy Covid-19 lockdown in Shanghai, UK exports to China proved resilient in the second quarter of 2022, with many UK regions reporting record export growth, according to CBBC’s China Trade Tracker. Here are the latest UK-China trade statistics

Parts of the UK saw a strong recovery in trade with China in the second quarter of 2022 as its economy recovered from severe lockdowns earlier in the year, new analysis from the China-Britain Business Council shows.

Although Chinese exports and imports valued in US dollars grew only 2.1% year-on-year in April – the slowest increase since the height of the pandemic in June 2020 – there were still some signs of success.

Figures show significant year-on-year increases in UK export values for medicinal and pharmaceutical products (up 19% from £275 million to £329 million), professional, scientific and controlling instruments (up 25% from £153 million to £192 million) and manufacture of metal (up 61% from £34 million to £55 million), which all performed better year on year in Q2 2022.

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“The UK and China have a long history of trade and diplomatic ties going back over 400 years. With the right guardrails in place, we can enjoy a pragmatic trading relationship that works for the national interest, while standing up for our values,” said Andrew Seaton, CBBC Chief Executive, adding: “This is vital for supporting British jobs and our economy, particularly as we face some of the toughest challenges in a generation.”

While exports to China fell across most regions of the UK, Yorkshire and the Humber saw goods exports increase 41% year-on-year – the biggest rise in the country – fuelled primarily by surging petroleum exports, up nearly 680%.

Other parts of the country, including the wider North of England, also proved relatively resilient, with rises in export values from the North East (+1.4% YoY), the North West (+3.9%) as well as the East Midlands (+3.7%).

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Wales – which saw the strongest growth in goods exports to China out of any UK region in Q1 – continued to benefit from Chinese demand for power-generating machinery and specialised machinery, improving its goods exports in Q2 by 36% year-on-year.

The report comes as the spotlight once again turns to UK-China relations, with Prime Minister Rishi Sunak using his recent speech at the Lord Mayor’s Banquet to outline his vision for foreign policy, saying he would focus on “standing up to our competitors, not with grand rhetoric but with robust pragmatism”. The UK would be “stronger in defending our values”, he said, while avoiding “simplistic Cold War rhetoric”.

The day before, Minister for the Indo-Pacific Anne-Marie Trevelyan told Australia’s National Press Club, “We cannot afford to do anything other than focus on this region…In short, this region is critical to the UK – to our economy, our security and to the international rules-based system, that both our countries cherish.”

UK goods exports to China have grown a staggering 495% over the past 15 years, making China the UK’s third largest goods trading partner.

With the UK facing tough economic times, we must use every tool at our disposal to create growth. China presents an extraordinary opportunity in this regard — Andrew Seaton, CBBC Chief Executive

The China Trade Tracker was launched by CBBC in October 2021. Produced every quarter, it acts as an ‘always-on’ reference tool providing the facts and figures about UK-China trade and the impact on the UK economy, including at the regional level, of trade with the world’s second-biggest economy.

Each issue of the China Trade Tracker provides an overview of the impact of Chinese trade and a detailed analysis of each region across the whole of the UK. It draws on Government, HMT, DIT and ONS data, compiled by CBBC’s specialist analysts.

Click here to read Issue 6 of the China Trade Tracker

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