Electrical Equipment / Components & Telecoms

According to statistics from China Customs, my country's imports and exports of mechanical and electrical products continued to maintain rapid growth in December 2020, hitting a record high in a single month. Among them, exports reached US$172.1 billion, a year-on-year increase of 23.6%, maintaining a double-digit growth rate for the sixth consecutive month, and hitting a record high for the third consecutive month; imports also reached a record US$999.9 billion, an increase of 20.2% year-on-year. The fourth month maintained a double-digit year-on-year growth.

In December, the export of key commodities such as household appliances, integrated circuits, automatic data processing equipment, and mobile phones maintained rapid growth. Among them, the export of automatic data processing equipment and parts was US$22.3 billion, a year-on-year increase of 34.6%; the export of mobile phones was US$14.35 billion, a year-on-year increase of 18.1%; the export of integrated circuits was US$13.48 billion, a year-on-year increase of 39.4%; the export of household appliances was US$6.9 billion, a year-on-year increase An increase of 58.6%.

In 2020, the cumulative import and export volume of my country's mechanical and electrical products was 249.27 billion U.S. dollars, an increase of 5.2% year-on-year, accounting for 53.6% of my country's total trade in goods. Among them, the export value was US$154.111 billion, a year-on-year increase of 5.7%, accounting for 59.5% of my country’s total exports of goods; the import value was US$949.15 billion, a year-on-year increase of 4.5%, accounting for 46.2%, and both performed better than the overall foreign trade and non-electromechanical products. . Realized a trade surplus of 591.96 billion US dollars, an increase of 40.7 billion US dollars over the previous year.

Throughout 2020, the export of household appliances and electronic information products benefiting from the home economy performed well. The annual cumulative export value of household appliances increased by 23.5% year-on-year to 66.13 billion US dollars. Also achieving double-digit growth: integrated circuit exports increased by 14.8% to 116.6 billion U.S. dollars, automatic data processing equipment and parts exports increased by 11.6% to 210.96 billion U.S. dollars, and lighting equipment exports increased by 14.3% to 37.6 billion U.S. dollars. Affected by the epidemic on both sides of supply and demand, the auto industry's import and export performance was relatively weak, and the annual export value was negative growth. Among them, the export value of automobiles and chassis fell by 3.6% year-on-year to 15.74 billion U.S. dollars, and auto parts fell by 6.2% year-on-year to 565.2 One hundred million U.S. dollars.

In 2020, my country's IC trade deficit will be 233.4 billion U.S. dollars. Imports totaled 350 billion U.S. dollars throughout the year, a year-on-year increase of 14.6%. Imports have maintained a double-digit growth rate for 11 consecutive months, accounting for 37% of all imports of mechanical and electrical products. It is the single product that has the largest import value and has driven my country’s imports of mechanical and electrical products. . Among them, my country imported 37.11 billion US dollars of integrated circuits in September, a record high in a single month.

my country's exports of mechanical and electrical products to the "Belt and Road" and RCEP countries increased at a higher rate than the overall rate. In the first 11 months, they increased by 6.3% and 5.8% year-on-year respectively. Among them, Vietnam is my country's largest trading partner of electromechanical products. Driven by integrated circuits, my country's imports and exports of electromechanical products to Vietnam have increased significantly. Imports and exports in the first 11 months have increased by 33.9% and 25.5% year-on-year respectively. my country's exports of mechanical and electrical products to the United States recovered rapidly, with a year-on-year increase of 5.9% from January to November. However, compared with before the imposing tariffs in 2017, my country's mechanical and electrical products accounted for approximately 3 percentage points of US imports.