Export Value Comparison of South Korea, Japan, China, and Taiwan (1981-2023)
This chart compares the export values of South Korea, Japan, China, and Taiwan from 1981 to 2023. It visually represents the changes in export volumes of each country, providing insights into their economic development and trade patterns. Notably, China's rapid export growth and the steady growth of Taiwan, Japan, and South Korea are highlighted.
China
In 1981, China's export value was $21.6 billion, which soared to $3.39 trillion by 2023. This represents an extraordinary growth of approximately 157 times. China's remarkable export growth can be attributed to its successful implementation of an export-led growth strategy and its emergence as the "world's factory." Joining the WTO in the early 2000s further accelerated China's export expansion, positioning it as a critical player in the global market.
Japan
Japan's export value increased from $172.1 billion in 1981 to $717.6 billion in 2023, reflecting a 4.17-fold growth. Although Japan's growth rate is relatively lower compared to the other three countries, it had already achieved a high level of exports in the 1980s. Japan's main export items include automobiles, electronics, and high-value-added products, maintaining global competitiveness through continuous technological innovation and quality control.
South Korea
South Korea's export value grew from $21.8 billion in 1981 to $632.2 billion in 2023, marking a growth of about 29 times. South Korea's export growth began during its high economic growth period in the 1980s and accelerated in the 1990s and 2000s with the development of the IT industry. Key export items include semiconductors, automobiles, and shipbuilding. Notably, the semiconductor industry has become a cornerstone of South Korea's export economy.
Taiwan
Taiwan's export value rose from $22.7 billion in 1981 to $432.4 billion in 2023, a 19-fold increase. Taiwan's economy has been driven by high-tech industries such as electronics and semiconductors, with companies like TSMC playing a significant role. Taiwan's export growth reflects its continuous technological innovation and adaptability to changes in the international market.
All four countries experienced significant export growth from 1981 to 2023. China and South Korea, in particular, demonstrated outstanding growth, largely due to their advancements in manufacturing and high-tech industries. Japan, despite a lower growth rate, maintained a substantial export volume. Taiwan also achieved steady growth, driven by its electronics and semiconductor sectors.
This growth results from various factors, including changes in the global economic environment, national economic policies, and industrial development. Moving forward, these four countries are expected to continue playing vital roles in the global market.
Export value refers to the total amount of money a country earns from selling goods and services to other countries. It is a crucial indicator of a nation's economy, reflecting its competitiveness in international trade.
1981
- 1. Japan : $172B 134M ($172,134,410,830)
- 2. Taiwan : $22B 686M ($22,686,500,000)
- 3. South Korea : $21B 836M ($21,836,243,810)
- 4. China : $21B 566M ($21,566,441,772)
2000
- 1. Japan : $519B 863M ($519,863,963,885)
- 2. China : $253B 91M ($253,091,967,448)
- 3. South Korea : $195B 550M ($195,550,495,929)
- 4. Taiwan : $151B 949M ($151,949,800,000)
2023
- 1. China : $3T 388B ($3,388,716,312,000)
- 2. Japan : $717B 562M ($717,562,758,000)
- 3. South Korea : $632B 225M ($632,225,745,000)
- 4. Taiwan : $432B 432M ($432,432,262,000)
Image Attribution
"Icon made by Freepik from www.flaticon.com"
