China’s machinery industry accelerates pace of exporting overseas

China’s machinery industry is committed to foreign exchanges and cooperation, and its machinery products are exported to more than 100 countries and regions.

With the gradual improvement of the impact of the global COVID-19 pandemic, the international engineering construction market began to recover.

Xu Niansha, president of China Machinery Industry Federation, disclosed on October 13, 2022 that from 2012 to 2021, the import and export trade scale of China’s machinery industry continued to jump, with the total import and export trade volume rising from US$647.22 billion in 2012 to around US$1.04 trillion in 2021, surpassing the trillion-dollar mark for the first time amid a sluggish world economy.

Meanwhile, exports increased to US$676.54 billion from US$350.6 billion, and the trade surplus increased to US$314.42 billion from US$53.9 billion, a record high.

18 Oct 2022 reported by Machinery News