Machinery / Industrial Parts & Tools

According to customs data, China's foreign trade imports and exports showed strong resilience in the first quarter of 2023, with a stable and positive start, laying the foundation for achieving stability and quality improvement in foreign trade throughout the year. In March, China's exports surged compared to the same period last year, reversing the decline in the first two months of 2023 and ending the consecutive decline in the past six months since October last year. China's exports rebounded significantly in March, a surprise that reflects increased demand in Asia and Europe, as well as improved supply chain conditions.

According to statistics from the General Administration of Customs, the total import and export value of China in the first three months of 2023 was 1438.95 billion US dollars, a year-on-year increase of -2.9%. Among them, exports reached 821.83 billion US dollars, a year-on-year increase of 0.5%; Import of 617.12 billion US dollars, a year-on-year increase of -7.1%; The trade surplus is 204.71 billion US dollars.

Specifically, in the internal combustion engine industry, the overall performance of imports and exports remained stable, with export growth exceeding imports.

According to customs data, the total import and export volume of the internal combustion engine industry from January to March 2023 was 7.59 billion US dollars, a year-on-year increase of 5.52%. Among them, imports were 1.989 billion US dollars, a year-on-year increase of -8.87%, and exports were 5.601 billion US dollars, a year-on-year increase of 11.78%.

Customs data shows that in the import amount, the decline in gasoline engine and internal combustion engine components is still significant, while other types have shown positive year-on-year growth. Specifically, from January to March 2023, diesel engine imports reached 233 million US dollars, a year-on-year increase of 3.44%; The import of gasoline engines reached 118 million US dollars, a year-on-year increase of -26.58%; The import of other types of complete machines reached 669 million US dollars, a year-on-year increase of 1.12%; The import of internal combustion engine components reached 857 million US dollars, a year-on-year increase of -16.95%; The import of generator sets reached 112 million US dollars, a year-on-year increase of 8.86%.

Customs data shows that in the export amount, except for gasoline engines and other types of complete machines, all other sub categories have increased year-on-year. Specifically, from January to March 2023, diesel engine exports reached 311 million US dollars, a year-on-year increase of 7.59%; Gasoline engine exports reached 363 million US dollars, a year-on-year increase of -6.80%; The export of other types of complete machines reached 669 million US dollars, a year-on-year increase of -1.13%; The export of internal combustion engine components reached 2.833 billion US dollars, a year-on-year increase of 10.99%; The export of generator sets reached 1.425 billion US dollars, a year-on-year increase of 29.20%.