In the first half of the year, the machinery industry saw continued growth in both imports and exports, reaching a total foreign trade value of $131.509 billion, up 28.41% year-on-year. Exports totaled $65.286 billion, rising by 36.15%, while imports reached $66.223 billion, an increase of 21.6%. This resulted in a trade deficit of $6.509 billion, reflecting a slight imbalance between import and export growth.
In June alone, the machinery sector achieved a total foreign trade value of $24.5 billion, with a year-on-year growth of 26.56%. Export values climbed to $12.073 billion, up 31.18%, while imports reached $12.427 billion, growing by 22.37%. The trade deficit for the month stood at $354 million, highlighting the ongoing challenge of balancing import and export volumes.
From January to June, the growth in exports outpaced that of imports, with the machinery industry's imports increasing by 21.6%, compared to a 36.15% rise in exports. This gap was 14.55 percentage points, but it marked a significant improvement over the same period last year. Monthly import growth remained above 20% throughout the first half of the year, showing strong demand across various sectors.
Most industries within the machinery sector experienced growth, except for heavy mining and food packaging. The automotive industry led with a 60.19% increase, followed by cultural and office machinery (42.36%) and construction machinery (36.13%). The electrical and electronics sector had the highest import value at $15.297 billion, up 23.13%, while the instrumentation industry imported $9.77 billion, an increase of 22.67%.
Exports also showed robust performance, with nine industries growing by more than 30%. Construction machinery led with a 68.63% increase, followed by cultural and office machinery (50.14%) and agricultural machinery (46.73%). The electrical and electronics industry topped the export value chart with $16.821 billion, up 36.86%, while the auto industry exported $7.665 billion, a 45.9% increase.
Regionally, the eastern provinces dominated machinery trade. Guangdong, Jiangsu, Shanghai, Zhejiang, and Beijing accounted for 74.28% of total machinery trade, with Guangdong leading in exports at over $20 billion. Provinces like Heilongjiang and Xinjiang saw the highest export growth rates—141.21% and 103.99%, respectively.
In terms of imports, Guangdong, Jiangsu, Shanghai, Beijing, and Tianjin led, with a combined import value of $48.477 billion, or 73.2% of the total. Qinghai and Yunnan recorded the fastest import growth, at 227.28% and 94.62%, respectively.
Asia remained the largest trading partner, with $30.1 billion in exports, up 32.38%. Latin America and Africa also showed strong growth, with exports rising by 87.41% and 40.5%, respectively. Imports from Asia totaled $38.422 billion, up 22.06%, with Africa seeing the fastest import growth at 49.7%.
Japan remained the top trading partner, with $2.927 billion in bilateral trade, up 24.51%. The U.S. followed closely with $20.077 billion, a 33.45% increase. Germany, South Korea, and the EU also maintained strong trade relationships, with the EU achieving $31.358 billion in trade, up 23.99%.
State-owned enterprises contributed significantly, with $27.951 billion in total trade, up 14.01%. Private enterprises grew rapidly, with $21.542 billion in trade, a 43.98% increase, and foreign-funded enterprises led the sector with $51.309 billion in trade, up 37.43%. Overall, the machinery industry demonstrated strong resilience and momentum in its international trade activities.
Stand Up Pouch Zipper Bags,Pocket Zipper Stand Up Pouches,Resealable Aluminum Foil Packaging Bags,Aluminum Foil Packaging Bags
Dongguan Pasike Packaging Co., Ltd. , https://www.dgpasike.com