LARGEST ELECTRONICS EXPORTING COUNTRIES IN THE WORLD IN THE YEAR 2022-23

ELECTRONIC PRODUCTS GLOBAL MARKET SIZE

The global market of electronics is one the biggest and most successful markets in the world which is experiencing rapid growth and popularity in the current scenario. In the year 2019, the global market of this industry was close to USD 730 billion. The market value of the electronic industry is projected to touch the USD 990 billion mark by 2027 which is almost 5.3% CAGR in 2020-2027. Although, there was a sudden decline in the market size of electronics during the covid era, but now as the things are normalizing, a measurable boost is being observed in the global market of consumer electronic gadgets.

Electronic devices are the most highly demanded products by every consumer in every country. various developments and innovations are also happening in this industry due to which people are getting more fascinated towards these products. From small electronic chips to large TV and ACs, everything is in high demand. It is sure that due to these technological advancements, the demand for electronic items would rise which will hence give a rise in the global market contribution.

Various product lines that are present in the electronic industry are:

·        Semiconductor chips: These are tiny electronic chips used as primary components in multiple devices such as processors, sensors, automobiles, etc. These items contribute significantly to the Global Trade Data for many years now.

·        Consumer electronics: These are the gadgets used in every household like TVs, Air conditioners, washing machines, etc. These items also have a major stake in the Import Export Data of many countries.

·        Industrial electronics: This line of electronics includes those electric gadgets which are used in industries such as medical items, robots, etc.

·        Automotive electronics: these electronics are solely used for automobiles and vehicles. Some of the prominent automotive electronics are ECU, music systems, and safety tools.

·        Aerospace and defense electronics: This line of electronics mainly roams around those electronics that are used in aeronautics and space research items.

TOP EXPORTING COUNTRIES OF ELECTRONICS IN THE WORLD (2022-23)

 Based on the Global Trade data for the last financial year 2022-23, the top 10 countries that export electronic items the most to the world are:

·        China

China is one of the top countries in the world that exports electronic items the most to the world. Despite being hit hard by the pandemic, the nation has managed to secure its ranking at the first position in the exports of electronic items. In the year 2021, based on China Export Data the total exports of electronic gadgets were close to USD 671.5 billion. With this China contributed almost 27.5% to the total electronics exports.

·        The United States

After China, the US is in the second position. Based on the US Export Data for the year 2021, the country exported electronic items worth USD 192 billion. It contributed almost 8% of total exports.

·        Japan

Japan is one of the popular destinations for purchasing cameras and other home appliances. In the year 2021, the Japan Export Data showed a value of USD 154.8 billion for electronic items with a total contribution of 6.3%.

·        South Korea

South Korea is one of the best options if you are planning to import a smartphone or television for yourself as the best gadgets are made there. With this, the nation secured 4^th position with a total export value of USD 129.5 billion.

·        Germany

The best electronic companies like Siemens, Bosch, and Infineon are the dominating players in Germany. The total export value of electronic items from Germany in the year 2021 was USD 101.8 billion.

·        Taiwan

Taiwan holds 3.9% of the total export share of electronic items with total exports worth USD 94.8 billion in the year 2021. Taiwan is the most popular choice when the demand is for semiconductor chips as the most prevalent companies like TSMC and Media Tek are from Taiwan.

·        Singapore

Singapore’s exports of electronic items were worth USD 60.5 billion in the year 2021 and became the 7^th largest country to do so. Singapore is a country that is well known for its manufacturing of electric items.

·        The Netherlands

The total electronic exports from the Netherlands were worth USD 57.5 billion in the year 2021 and contributed its 2.4% share in total world exports.

·        Hong Kong

According to Hong Kong Export data for the year 2021, the total electronics exports from the nation were worth USD 55.7 billion. This nation is considered as a primary hub for the complete electronic industry in Asia.

·        Malaysia

At the end of this list, lies Malaysia at the 10^th position with total global electronic exports worth USD 42.9 billion. Malaysia is also famous for semiconductor chips and other related capabilities.

FROM WHERE YOU CAN PURCHASE THE DETAILED ELECTRONICS EXPORTS LIST?

To conclude this blog, the above-mentioned 10 countries are the world’s largest exporters of electronic items in the year 2022-23. These 10 countries have a significant stake in the world exports of electronic items. The capabilities of every country are amazing and make them the most deserving top 10 countries.

If you are also looking for more information about each nation with the list of respective importers and exporters, then feel free to contact TradeImeX Info Solution Pvt. Ltd. today and get all your doubts clear. We also provide the best Import Export Data for 70+ countries with 100% accuracy and authenticity as it is derived from the customs ports and other official bodies of respective country.

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