Machinery / Industrial Parts & Tools

According to a study conducted by the German Federal Agency for Foreign Trade and Investment, China is greatly expanding its lead over Germany in machinery manufacturing exports. The report pointed out that China’s exports of machinery and equipment this year will increase by nearly 31% to reach 296 billion US dollars, while exports from Germany, the former world champion in machinery and equipment exports, will only increase by 13% to 249 billion US dollars.

In 2020, China surpassed Germany in this field for the first time. According to calculations by the German Machinery and Equipment Manufacturing Federation, China’s exports of machinery and equipment last year accounted for about 15.8% of the total global exports of such products, and Germany’s exports accounted for 15.5%.

The research report pointed out: "Due to the new crown epidemic, China will become the world's largest exporter of machinery and equipment for the first time in 2020." "Chinese competitors are surpassing German exporters in more and more areas."

In 2020, China has been ahead of Germany in 16 of the 28 subdivisions of machinery and equipment manufacturing, including areas where Germany has traditionally had a large export volume.

Nevertheless, the German Machinery and Equipment Manufacturing Federation believes that the rise of China still brings opportunities for German manufacturers. For example, in the field of industrial robots, China "obviously needs to catch up", which brings good export opportunities.