Home China’s Manufacturing Output Surged by 322% in Two Decades, 6x the US Growth
Finance News

China’s Manufacturing Output Surged by 322% in Two Decades, 6x the US Growth

Jastra Kranjec Finanace Writer Author expertise
Fact Checked
Fact Checked
Everything you read on our site is provided by expert writers who have many years of experience in the financial markets and have written for other top financial publications. Every piece of information here is fact-checked. We sometimes use affiliate links in our content, when clicking on those we might receive a commission - at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
We do our best to help you make intelligent financial decisions. Tradingplatforms.com is compensated if you access certain products or services offered by eToro USA LLC and/or eToro USA Securities Inc. and other brokerage companies. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success. This however does not affect our assessments of the brokers, their features, and their overall rating.

Although the United States used to be the world’s largest manufacturing hub, it has been over ten years since China claimed the top position.

According to data presented by Trading Platforms, China’s manufacturing output surged by 322% in the last two decades, six times the US growth.

China’s Share of Global Manufacturing Output Jumped Tenfold

With low costs, a large workforce and strong production quality, China’s manufactured exports have been growing significantly faster than those of the United States, Germany, Japan, and South Korea.

According to Statista and the United Nations Statistics Division data, China’s manufacturing output, measured in constant 2015 US dollars, climbed from $967bn in 2000 to more than $4trn twenty years later. During that time, the country`s share of global manufacturing output surged from 3% to more than 30%.

That puts the country 10% ahead of the United States, which used to have the world’s largest manufacturing sector until China overtook it in 2010. Statistics show the US manufacturing output increased by 50% in two decades, rising from $1.67trn in 2000 to $2.52trn in 2020. Also, the country saw its manufacturing output share drop from 26% to 17% in this period.

India Growing Faster than China; Manufacturing Output Soared by 467% in Two Decades

Although China has seen six times bigger growth than the United States, the country is still behind India, the world’s fastest-growing manufacturing superpower.

Over the past years, India has climbed the list of the world’s manufacturing superpowers, becoming the sixth-largest manufacturer globally. Statistics show its manufacturing output soared by 467% in two decades, far above any other country, rising from roughly $75bn in 2000 to $423bn in 2020. As companies continue to diversify during global expansion, the country can expect more growth in its manufacturing industry.

South Korea has seen the third-largest growth behind India and China, with its manufacturing output increasing by 124% in the last twenty years. That is three times the increase in Japan, the world’s third-largest manufacturing superpower, and five times the German growth.

Statista data showed that Japanese manufacturing output grew 34% in the last two decades, rising from roughly $740bn to $993bn. The leading European manufacturer, Germany, follows with a 21% increase in this period.

Question & Answers (0)

Have a question? Our panel of experts will answer your queries. Post your Question

Leave a Reply

Write a Review

Your email address will not be published. Required fields are marked *

Jastra Kranjec Finanace Writer

Jastra Kranjec Finanace Writer

Jastra is an editor, writer, and PR specialist with years of experience in news, research, and report writing. Over the years, she has worked in different fields of journalism and public relations, including politics, economy, and financial markets. As well as TradingPlatforms.com, Jastra has written for Inside Business,The Business Mogul, Business Today, Startups Magazine, StockApps.com, and Buyshares.

Jastra graduated from The University of Zagreb with a Master's Degree in Journalism in 2008. Since then, she has used her writing skills to publish a range of educational articles for TradingPlatforms and continues to increase her understanding of the finance and crypto space.