patrick.net

In 2000, U.S. trade totaled $2.0 trillion—more than four times China’s $474 billion. At the time, China was the primary trade partner for only a handful of countries, including Cuba, Iran, Libya, Myanmar, Mongolia, North Korea, Oman, Sudan, Tanzania, and Vietnam.

From 2000 to 2024, U.S. trade grew by 167% (4.2% CAGR), while China’s trade surged by 1,200% (11.3% CAGR), surpassing the U.S. in 2012. By 2024, total trade reached $5.3 trillion for the U.S. and $6.2 trillion for China.

China is now the dominant trade partner for most of Asia, Eastern Europe, the Middle East, Oceania, South America, and Africa. Looking ahead, North America, Europe (excluding Russia), North Africa, and India are likely to strengthen trade ties, while China will deepen its connections with emerging markets—importing fuels, minerals, and agricultural goods while exporting manufactured products.