US goods exported to China hit record

The US exported more goods to China in 2017 than ever before – nearly $128 billion – making it the third-largest US market after Canada and Mexico, according to the 2018 annual report on state exports released on Monday by the US-China Business Council (USBC).

China has become a major market for US services exports, and is virtually tied with Canada as the second-largest services market for the US, at close to $53 billion.

USCBC President John Frisbie said: "US exports to China continue to contribute to US economic growth" and "exports to China support 1 million American jobs annually across a wide range of industries''.

The report shows that 49 states have increased their goods exports to China over the past decade, with 17 states experiencing triple-digit growth. Every US state has had triple-digit services export growth to China over the past decade, with 31 states experiencing services export growth of more than 300 percent.

US exports of goods to China have grown by 86 percent over the last decade, compared with only 21 percent to the rest of the world, the report said. In the decade from 2007 to 2016, US services exports to China grew by 12 percent, compared with a decline of 0.6 percent to the rest of the world.