Electrical Equipment / Components & Telecoms

The China Machine Tool Industry Association recently released the economic performance of the machine tool industry in the first half of 2021: Both imports and exports have increased significantly, and the machine tool industry continues to maintain a positive trend.

According to the China Machine Tool Industry Association, since 2021, China's economy has continued to recover steadily, with stability and improvement. The growth of the domestic economy has driven the recovery and growth of market demand for machine tools. In the first half of 2021, the machine tool industry continued its recovery growth since the second half of 2020. All major economic indicators have achieved substantial growth, quality and efficiency have improved significantly, and both imports and exports have increased significantly. However, the sharp increase in the prices of raw materials and supporting parts, as well as uncertain factors such as domestic and foreign epidemics, should pay attention to the potential impact on the operation of the industry.

From January to June 2021, the operating income of key enterprises in the machine tool industry increased by 45.7% year-on-year. Affected by the monthly increase in the base of the same period of the previous year, the growth rate was 27.4 percentage points lower than that of January-March, and an increase of 25% compared with the same period in 2019. , The two-year average growth rate is 13.5%.

It is worth mentioning that in the first half of the year, the overall import and export of machine tools and tools showed a significant growth trend. The total import and export volume was US$15.85 billion, a year-on-year increase of 29.2%, and the growth rate was 1.3 percentage points lower than that in the first quarter. Compared with the first half of 2019, an increase of 13.3%, the two-year average growth rate was 6.4%.

In terms of exports, China's machine tool industry in the first half of the year generally continued the trend of substantial growth in the first quarter. The export value increased by 38.5% year-on-year, 1.2 percentage points lower than the growth rate in the first quarter, and an increase of 26.1% compared with the first half of 2019. The two-year average growth rate was 12.3%.

The China Machine Tool Industry Association stated that comprehensive consideration of various factors and the current good development trend of the machine tool industry, such as the epidemic has no serious rebound, uncertain factors have been effectively dealt with, and various policies continue to be effective in the second half of 2021. The machine tool industry will continue to maintain a steady growth trend. However, due to factors such as the increase in the base number of the previous year, the growth rate may gradually decrease in the second half of the year.