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Import and export analysis of construction machinery products from January to October 2021
Release Date:2022-08-09 Views:129

According to customs data, from January to October 2021, my country's construction machinery import and export trade volume was US$30.388 billion, a year-on-year increase of 52.2%. Among them, the import value was 3.168 billion US dollars, a year-on-year increase of 2.53%; the export value was 27.22 billion US dollars, a year-on-year increase of 61.3%; the trade surplus was 24.05 billion US dollars, a year-on-year increase of 10.27 billion US dollars.

In October 2021, the import value was US$237 million, a year-on-year decrease of 21.5%; the export value was US$3.244 billion, a year-on-year increase of 77.4% (see Figure 1).

Figure 1 Construction Machinery Import and Export Monthly Report from January to October 2021


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Compared with 2019 before the epidemic, the export value in October 2021 increased by 78.3% compared with the same period in 2019, and the cumulative export value from January to October increased by 33.8% compared with the same period in 2019. The import value in October 2021 decreased by 12.5% compared with the same period in 2019, and the cumulative import value from January to October decreased by 7.39% compared with the same period in 2019. From January to October 2021, the total import and export trade volume increased by 27.9% compared with the same period in 2019.

In terms of imports, from January to October 2021, the import of parts and components was 1.9 billion US dollars, a year-on-year increase of 22.6%, accounting for 60% of the total import; the imported complete machine was 1.267 billion US dollars, a year-on-year decrease of 17.7%, accounting for 40% of the total import. Among the main imported products, the import volume of crawler excavators decreased by 50.8%, the import value decreased by 45.8%, and the import value decreased by 272 million US dollars, resulting in a decrease of 273 million US dollars in the import value of the whole machine, showing a relatively large decline. The import of parts and components increased substantially, and the import value of parts and components increased by 351 million US dollars. The main imported machines are: high-horsepower bulldozers, internal combustion forklifts, crawler cranes, other excavators and pavers. The main imported machines are: crawler excavators, pile drivers and engineering drilling rigs, elevators and escalators, rock drilling machinery and pneumatic tools, etc.

In terms of exports, cumulative exports from January to October 2021 increased by US$10.3 billion year-on-year. Among them, the total export of complete machines was 17.46 billion US dollars, a year-on-year increase of 68.1%, accounting for 64.1% of the total export; the export of parts and components was 9.759 billion US dollars, a year-on-year increase of 50.4%, accounting for 35.9% of the total export. From January to October, the export value of the whole machines increased more mainly: crawler excavators, forklifts, loaders, crawler cranes and off-highway dump trucks. The main machines whose export value decreased are: tunnel boring machine, tractor, container forklift and stacker (see Figure 2).

Figure 2 Classification summary of imports and exports of construction machinery products from January to October 2021

 


From January to October 2021, the export of construction machinery to six continents increased to varying degrees. Among them, exports to Asia were 11.73 billion US dollars, accounting for 43.1% of the total exports, a year-on-year increase of 56.6%; exports to Africa were 25.64 US dollars, accounting for 9.42% of the total exports, a year-on-year increase of 67.8%; exports to Europe were 6.295 billion US dollars, accounting for 23.13% of the total exports , an increase of 71.5% year-on-year; exports to South America were 2.076 billion US dollars, accounting for 7.63% of total exports, a year-on-year increase of 97.4%; exports to North America were 3.27 billion US dollars, accounting for 12.02% of total exports, a year-on-year increase of 44.2%; exports to Oceania were 1.281 billion US dollars, It accounted for 4.71% of the total export, a year-on-year increase of 48.1%. Except for exports to North America and Oceania (44.2% and 48.1%), the growth rate was relatively small, the growth rates of other continents were close to or exceeded 56%, especially exports to South America increased by more than 97%.

From the perspective of market distribution and changes in major regions of Koukou, ASEAN, Africa, Latin America, the European Union and the United Kingdom take the lead, followed by the United States, which has grown slowly in recent months, with a market share of just over 10%. The major regional markets with larger growth are: the Russian Federation, Africa and Latin America, South Korea, the EU, the UK, and ASEAN; the main regional markets with smaller growth: Hong Kong, the United States, Japan, etc. In terms of major import sources such as Europe, America, Japan and South Korea, imports from the EU and the UK have grown rapidly, accounting for more than 44% (see Figure 3).

Figure 3 Regional market performance of construction machinery from January to October 2021


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In terms of major exporting countries, from January to October, exports to the United States, Russia, Japan, Indonesia, Australia, and Vietnam exceeded US$1 billion; exports to the Philippines, India, Germany, South Korea, Thailand, Brazil, Belgium and the United Kingdom were 5 to 1 billion US dollars, and continue to maintain the main market position of my country's construction machinery. Figure 4 shows the export situation to other major export target markets.

From January to October 2021, my country's construction machinery exports to the above-mentioned top 20 export target countries accounted for 66.35% of the total export value; exports to countries along the "Belt and Road" totaled 11.653 billion US dollars, accounting for 42.8% of all exports, a year-on-year increase of 60.6% %; exports to the BRICS countries amounted to US$3.811 billion, accounting for 14% of the total export value, a year-on-year increase of 87.3%. Main features of import and export of construction machinery products from January to October 2021:

(1) Affected by factors such as the post-epidemic economic recovery in the international market, the demand for construction machinery in the international market is strong, and exports will remain at a high level in 2021. The total export value of the first 10 months exceeded the annual export value of any year in history. In the second half of the year, each month showed a linear growth trend, and the export value exceeded 3.1 billion US dollars for two consecutive months. It is a foregone conclusion that the annual export value of 2021 will exceed 30 billion US dollars.

(2) Corresponding to exports, imports remained sluggish. From January to October 2021, the import of construction machinery products increased by 2.53% compared with 2020, and decreased by 7.39% compared with 2019. In August, September, October and even the monthly import value fell below 300 million US dollars. Among imported products, the import of parts and components maintained a rapid growth, while the import of complete machines fell sharply.

Note: The data comes from the monthly monitoring system of construction machinery import and export of China Construction Machinery Industry Association.