Machinery / Industrial Parts & Tools

According to customs data, the export value of China's construction machinery from January to February 2023 was 7.006 billion US dollars, a year-on-year increase of 11.6%, lower than the growth rate of 48.3% in the same period of 2022. Among them, the export amount in January was 3.904 billion US dollars, a year-on-year increase of 7.17% (54.5% in the same period of 2022); The export value in February was 3.102 billion US dollars, a year-on-year increase of 17.8% (65.5% in the same period of 2022).

Customs data shows that from January to February, the cumulative export of complete machines reached 4.817 billion US dollars, a year-on-year increase of 21.6%, accounting for 68.8% of the total export volume. The products with an increase in export value from January to February mainly include crawler excavators (26%), forklifts, non highway dump trucks (59.2%), loaders (19.7%), and truck cranes (an increase of 361.1% for products with 100 tons or more).

According to customs data, from a regional perspective, exports to Asia amounted to 2.89 billion yuan, accounting for 41.3% of the total export volume, a year-on-year increase of 9.2%; Europe reached 1.803 billion US dollars, accounting for 25.7% of total exports, with the largest growth rate of 23%; Exports to South America reached 627 million US dollars, a year-on-year increase of 14.3%.

Russia has surpassed the United States as China's largest export market for construction machinery. Customs data shows that from January to February 2023, the total export of construction machinery products to Russia was 809 million US dollars, a year-on-year increase of 108.5%. Surpassing the United States and becoming the largest export market for China's construction machinery in a single country, accounting for approximately 11.6%. Some insiders said that the year-on-year growth of China's exports to Russia in January and February was mainly due to the certain disturbance to China's exports to Russia after the outbreak of the Russia-Ukraine conflict in February 2022. The low base effect was obvious, and the recent shift of Russian imports to China was more.

The total export of construction machinery products from Saudi Arabia reached 240 million US dollars, with the largest growth rate. According to customs data, the total export of construction machinery products to Saudi Arabia from January to February 2023 was $240 million, a significant increase of 206.9% year-on-year. With the further stability of the situation in the Middle East region, the deepening of cooperation between China and the Middle East may continue to bring new growth points to China's construction machinery exports.

The amount of exported engineering machinery products from Southeast Asian countries has declined. From January to February 2023, among the exporting countries to Southeast Asia, except for India, exports to Indonesia, Thailand, and Vietnam all experienced varying degrees of decline, with Thailand's exports declining by 18.1%.