Industrial Production in China Up 37% Since 2019 🏭

Key Takeaways

• Despite two economic downturns since 2019, China's industrial activity has surged, further cementing its role as the world's largest exporter.
• Between 2019 and mid-2024, China's economy expanded by 20%, supported by its manufacturing base.
• By contrast, American industrial activity has lagged, with the manufacturing sector employing 8% of the population, roughly half the share seen in China.

China's Industrial Production Boom

Industrial production covers three key sectors—manufacturing, mining, and utilities—spanning from finished goods to the extraction of resources.

Since 2019, China's industrial activity increased by 37%, fueled by the EV sector, rising demand for critical minerals, and more.

Amid ongoing trade rifts, China is likely to further diversify its export markets, turning increasingly toward countries such as Vietnam, Thailand, and Indonesia.

For perspective, 15% of China's exports are sent to the U.S., down from a fifth in 2017.