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China's machine tool industry runs smoothly Exports continue to grow significantly

Feb 14,2023

China Machine Tool & Tool Industry Association released on the 12th of 2022 the first quarter of the economic operation of the machine tool industry: January to March China's machine tool industry import and export totaled US$ 8.01 billion, up 9.7% year-on-year. Of which, total imports of US$3.20 billion, down 2.3% year-on-year, and total exports of US$4.81 billion, up 19.6% year-on-year. Imports fell slightly, while exports continued to grow significantly.


China Machine Tool & Tool Industry Association said that according to the first quarter of 2022 China Machine Tool & Tool Industry Association key contact enterprises (hereinafter referred to as: key contact enterprises) statistics, industry operating income and total profit and other major indicators of year-on-year growth, running smoothly, the overall good start. However, the growth rate of operating income slowed down, metalworking machine tools new orders from the year-on-year turn down, inventory continued to grow, these will bring pressure on the next stage of industry operation.


From January to March 2022, operating revenue of key contacted enterprises grew by 8.3% year-on-year, down by 5.1 percentage points from January to February. During the same period, key contacted enterprises achieved a year-on-year increase in total profit greater than the increase in operating revenue. Among the sub-sectors, all were profitable except for machine tools and electrical appliances.


From January to March, the import and export of machine tools in China maintained the surplus trend since June 2019, showing a trade surplus in the categories of abrasives, woodworking machine tools, cutting tools, metal forming machine tools, casting machines and gauging and measuring instruments.


During the same period, imports, from January to March overall showed a slight decline in the trend.


On the export side, exports from January to March generally maintained a significant growth trend. Among them, metalworking machine tool exports amounted to US$1.38 billion, up 22.8% year-on-year.


China Machine Tool Industry Association said, a comprehensive view of all aspects, the current machine tool industry downward pressure increased. However, with the implementation of various policies and measures to stabilize growth and protect the main market, the epidemic is gradually under control and the implementation of relevant policies to help enterprises in place, the macroeconomic environment in which the industry operates will become better and better. The industry strives to achieve greater development in 2022.