China Machine Tools Exp&Imp Continue Grow

Resource from: machine.2456.com Likes:2951

Dec 06,2006

China's foreign trade in machine tools on continued expansion China is set to break records in its import and export values of machine tools again this year, based on the figures posted for the first eight months of the year. Imports likely to exceed US$7 billion China has been the world's largest machine tool importer for four straight years until 2005, when it imported US$6.496 billion worth of machine tools, a rise of 9.7% from a year earlier. This also represented a surplus of 72% from the figure of the US, which ranked second after China in machine tool imports. For this year until August, China has posted an even higher year-on-year increase of 10%, making the import value reach US$4.733 billion, despite the negative growth in the beginning of the year (Table 1). The most imported category was machining centers, amounting to US$975 million already, while the category of the greatest growth was machine tools for special purposes.

Looking at the form of trading, machine tools imported by foreign-invested enterprises accounted for 60% of the total. They, as well as machine tools imported for processing trade, are showing a growing trend. This will offset the negative impact by the fall in machine tools imported in the form of general trade, hence guarantee a positive growth for the overall full-year result, which is likely to be above US$7 billion. According to the statistics for the first half year, nearly 90% of the import values were contributed by Japan, Taiwan, Germany, America, Korea, Italy and Switzerland (Table 2). Exports will surpass US$1 billion Coming to exports, China continued to grow fast although the year-on-year growth rate dropped from 64% in January to 48% in the first eight months. As it already amounted to US$723 million in the first eight months, the full year figure is forecast to surpass US$1 billion for the first time ever, an increase of more than 40% from a year ago. China exported US$820 million machine tools last year, up 51.9% year-on-year.

(machine.2456.com)

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