In August, the cumulative decrease in import and export of machinery industry deepened

From January to August this year, the total import and export volume of the machinery industry totaled $44,439 million, a year-on-year decrease of 6.81%. Of which, exports were US$259.32 billion, a year-on-year decrease of 1.53%, a decrease of 0.97 percentage points from January to July (-0.56%), and imports of US$185.06 billion, a year-on-year decrease of 13.33%, a decrease of 1.36 from January to July (-11.97%). Percentage points, cumulative trade surplus of 74.386 billion U.S. dollars.
In August, the total import and export volume of the machinery industry was US$53.817 billion, a decrease of 14.33% year-on-year. Among them, the US$32.192 billion was exported, a year-on-year decrease of 7.9%, with a decrease of 3.07 percentage points from July; imports of US$21.614 billion, a year-on-year decrease of 22.4%, and a decrease of 7.38 percentage points from July. The monthly trade surplus was US$105.68 billion.
The accumulative import growth rate of the eleven industries of the machinery industry fell from January to August. The growth rate of imports from the eleven industries of the machinery industry fell from January to July. The fastest decline in import growth was in the machine tool industry. From January to July, it increased by 2.65 percentage points, followed by the automobile and internal-combustion engine industries, with a decrease of 2.27 and 2.02 percentage points respectively.
In the month of August, the industries with faster import growth than those in July were followed by automobiles, cultural office equipment, and machine tools. The declines were all deepened by more than 10 percentage points, which were 14.05, 12.89, and 10.74 percentage points, respectively.
More than 60% of provinces and cities accumulated import and export decreased year-on-year. From January to August, 12 provinces and cities have accumulated year-on-year growth, and 19 provinces and cities have accumulated year-on-year declines, of which 13 cities and provinces have accumulated double-digit year-on-year declines. Yunnan Province (-50.04%) accumulated the largest year-on-year decline.
In terms of exports, there were also a cumulative year-on-year increase in 12 provinces and cities in the first eight months. There were cumulative decreases in 19 provinces and cities as compared to the same period of the previous year. Among them, 17 cities and provinces had cumulative double-digit declines year-on-year.
The biggest trade surplus with Hong Kong was Germany’s largest trade deficit for the period from January to August. The countries with cumulative growth in import and export of the machinery industry were among the top three countries in Myanmar (52.64%), Pakistan (27.51%) and Argentina (21.68%).
From January to August, the top three countries and regions in the trade surplus of the machinery industry were Hong Kong (22.362 billion U.S. dollars), the United States (212.37 billion U.S. dollars), and India (6.957 billion U.S. dollars). The countries with the top three deficits are Germany (27.369 billion US dollars), Japan (18.325 billion US dollars) and South Korea (70.58 billion US dollars).
The cumulative growth of general trade's cumulative exports was faster than that of processing trade from January to August. The total import and export volume of the general machinery industry was 279.819 billion U.S. dollars, a year-on-year decrease of 6.93%; the total import and export volume of processing trade was 114.89 billion U.S. dollars, a year-on-year decrease of 5.43%.
From the perspective of imports, total imports from January to August totaled 122.165 billion U.S. dollars, a year-on-year decrease of 15.56%; the total import value of processing trade was 36.542 billion U.S. dollars, a year-on-year decrease of 3.58%.
From the perspective of exports, the cumulative total of general trade in the first eight months was $157.214 billion, an increase of 1.14% over the same period of the previous year. The cumulative export volume of processing trade was 78.348 billion US dollars, a year-on-year decrease of 6.27%. The year-on-year growth of general trade exports was 7.41 percentage points higher than that of processing trade.
Exports of private enterprises grew faster than state-owned and foreign-funded enterprises in the first eight months of this year. State-owned, private, and foreign-funded enterprises’ total import and export volume was US$54.856 billion, US$128.338 billion, and US$261.205 billion, respectively, a year-on-year growth rate of -11.14%. , -0.54% and -8.71%.
On the import side, the year-on-year growth rates of state-owned, private, and foreign-funded enterprises were -17.76%, -10.02%, and -13.18%; on the export side, private enterprises' exports increased by 2.73% compared to the same period of last year, compared with state-owned enterprises (-4.93%) and foreign-funded enterprises. (-3.74%) higher by 7.66 and 6.47 percentage points.
The biggest trade deficit of automotive products was in the largest cable and cable trade surplus from January to August. Among the 92 kinds of machinery industry import and export products consolidated by the China Federation of Machinery Industry, there were 61 kinds of product trade surpluses and 31 products were in deficit. The top three products in terms of accumulated trade surpluses were: $103.34 billion for wire and cable, $4.408 billion for power tools, and $4.243 billion for copiers; the top three products for the trade deficit were: automobiles (including complete sets) ) US$22.15 billion, four-wheel drive light SUVs (including spare parts) US$15,051 million and small cars (including spare parts) US$7.375 billion.

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