China's Export Reliance: A Return to Early 2000s Levels

China's exports-to-GDP ratio declined from a peak of 35% in 2006 to 17% in 2019–2020, before stabilizing at approximately 19% in 2021–2024. This level is slightly below the 20% observed in 2000–2001, marking a return to the export dependence seen two decades ago. This shift underscores a significant transformation in China's economic structure, signaling a move away from export-led growth.