China is known as the world’s largest exporter and is often referred to as the ‘factory of the world.’ Last year, China exported goods worth $3.594 trillion, accounting for approximately 16% of the world’s total exports. China’s top export destinations in 2022 included Asian countries (47.4% of total exports), Europe (20.7% of total exports), and North America (19.9% of total exports). However, many countries struggle with trade deficits with China, including India and the United States. In 2022, India had a trade deficit of around $101 billion with China, while the United States had a trade deficit of $403 billion. Other countries that have trade deficits with China include Australia, Brazil, Switzerland, Saudi Arabia, Russia, South Korea, Oman, Iraq, and Chile. Conversely, some countries have trade surpluses with China, such as Taiwan, Australia, Brazil, Switzerland, Saudi Arabia, Russia, South Korea, Oman, Iraq, and Chile. These countries import less from China and export more to the country. China’s trade surplus in 2022 amounted to $877.6 billion, a 27.9% increase compared to the previous year.