In the first half of the year, the machinery industry continued to show strong performance in imports and exports, with a total value of $131.509 billion, representing a 28.41% year-on-year increase. Exports reached $65.286 billion, up 36.15%, while imports rose to $66.223 billion, an increase of 21.6%. This led to a trade deficit of $6.509 billion for the period.
In June alone, the sector achieved a foreign trade value of $24.5 billion, reflecting a 26.56% annual growth. Exports totaled $12.073 billion, rising by 31.18%, while imports reached $12.427 billion, up 22.37%, resulting in a trade deficit of $354 million for the month.
From January to June, export growth outpaced import growth by 14.55 percentage points. While imports increased by 21.6%, exports grew at a faster rate of 36.15%. The import growth rate was also 21.71 percentage points higher than the same period last year. Throughout the first half, monthly import growth remained above 20%.
Among the 13 industries in the machinery sector, 11 saw growth, with the automotive industry leading at 60.19%, followed by cultural and office machinery (42.36%) and construction machinery (36.13%). The electrical and electronics industry had the highest import value at $15.297 billion, growing by 23.13%, while the instrumentation sector imported $9.77 billion, up 22.67%.
Exports from the machinery industry maintained double-digit growth, with nine sectors exceeding 30% growth. The construction machinery industry saw the highest increase at 68.63%, followed by cultural and office machinery (50.14%) and agricultural machinery (46.73%).
The electrical and electronics industry led in exports with $16.821 billion, up 36.86%, while the petrochemical general industry exported $11.887 billion, growing by 30.83%. The auto industry exported $7.665 billion, up 45.9%, and the cultural office machinery industry reached $7.118 billion, increasing by 50.14%. These five industries accounted for 74.14% of the total machinery exports.
Regionally, the eastern provinces dominated the growth, with Guangdong, Jiangsu, Shanghai, Zhejiang, and Beijing collectively accounting for 74.28% of the total machinery imports and exports. Guangdong alone exceeded $20 billion in exports, ranking first. Provinces like Heilongjiang and Xinjiang showed exceptional growth, with increases of 141.21% and 103.99%, respectively.
In terms of imports, Guangdong, Jiangsu, Shanghai, Beijing, and Tianjin were the top five, contributing $48.477 billion, or 73.20% 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 $30.10 billion in exports, up 32.38%. Latin America saw the fastest export growth at 87.41%, while Africa posted a 40.5% increase. On the import side, Asia received $38.422 billion, up 22.06%, with Africa showing the highest growth at 49.7%.
Japan remained the top trading partner, with $2.927 billion in bilateral trade, up 24.51%. The U.S. came second with $20.077 billion, a 33.45% increase, followed by Germany with $12.874 billion, up 22.34%. South Korea reached $8.159 billion, and the EU hit $31.358 billion, both growing by over 23%. ASEAN’s trade volume reached $7.615 billion, up 25.89%.
State-owned enterprises contributed $27.951 billion in total trade, a 14.01% increase, making up 21.25% of the industry's total. Private enterprises saw rapid growth, with $21.542 billion in trade, up 43.98%, while foreign-funded enterprises led with $51.309 billion, up 37.43%, accounting for 39.02% of total trade.
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