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Exports

China's Machine Tool Exports See Double-Digit Growth

Strategic Insights

— 2 min read

China's machine tool exports continued their double-digit growth, with a 13.2% year-on-year increase in May, reaching US$2.52 billion. This marks the third consecutive month of double-digit growth. In the first five months of the year, China's machine tool exports totaled US$11.57 billion, a 10.4% year-on-year increase. The ASEAN and Middle East markets performed particularly well, with cumulative exports in the first five months increasing by 26.9% and 30.1% year-on-year, respectively. Vietnam, Thailand, and the UAE were notable performers, with exports increasing by 53.2%, 76.5%, and 181% year-on-year in May, respectively.

Key Takeaways:

  • China's machine tool exports reached US$2.52 billion in May, a 13.2% year-on-year increase.
  • The country's machine tool exports have seen double-digit growth for three consecutive months.
  • In the first five months of the year, China's machine tool exports totaled US$11.57 billion, a 10.4% year-on-year increase.
  • The ASEAN market saw a 26.9% year-on-year increase in machine tool exports in the first five months.
  • The Middle East market saw a 30.1% year-on-year increase in machine tool exports in the first five months.
  • Vietnam, Thailand, and the UAE were notable performers, with exports increasing by 53.2%, 76.5%, and 181% year-on-year in May, respectively.
  • The cumulative exports to the ASEAN and Middle East markets totaled US$3.46 billion, accounting for about 30% of China's total machine tool exports.

Statistics:

  • US$2.52 billion: China's machine tool exports in May.
  • 13.2%: The year-on-year growth rate of China's machine tool exports in May.
  • US$11.57 billion: The total value of China's machine tool exports in the first five months of the year.
  • 10.4%: The year-on-year growth rate of China's machine tool exports in the first five months.
  • 26.9% and 30.1%: The year-on-year growth rate of machine tool exports to the ASEAN and Middle East markets, respectively.
  • 25.5% and 42.1%: The year-on-year decline in machine tool exports to the United States, respectively.
  • US$920 million: The total value of China's machine tool exports to the United States in the first five months.
  • US$3.46 billion: The total value of China's machine tool exports to the ASEAN and Middle East markets in the first five months.

Sources:

  • General Administration of Customs
  • Machinery Industry Department of China Machinery and Electrical Chamber of Commerce
  • China Chamber of Commerce for Import & Export of Machinery and Electronic Products

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