In 2010, China's economy showed a strong recovery momentum. The machine tool industry continued the upward trend in the end of 2009, and the stability was good. The economic indicators have approached or exceeded the 2008 level before the financial crisis. As the market picks up, the import and export trade of machine tools and tools in China has gradually picked up, and the volume of imports and exports has increased significantly. According to customs statistics, in 2010, the total import and export volume of China's machine tool products exceeded US$20 billion for the first time, reaching US$22.75 billion, a year-on-year increase of 57.5%. Among them, the total export value was 7.03 billion US dollars, up 48.4% year-on-year; the total import value was 15.72 billion US dollars, up 62.0% year-on-year. The import and export deficit was US$ 8.68 billion, a year-on-year increase of 75.0%. In the whole year, China's foreign trade in machine tool products showed that both import and export climbed in the first half of the year, and the trend of high import and export growth in the second half of the year.
First, the export of machine tool products
In 2010, China's exports of machine tool products totaled US$7.03 billion, up 48.4% year-on-year. It was only one step away from the historical peak of US$7.13 billion in 2008. Since January, the export volume of the whole industry has shown a positive growth. Due to the different degree of recovery of various products, the top 10 products have gone out of the previous year's negative growth predicament in the first four months. By the end of the year, the export volume of various products increased at a double-digit or even multiple rate. Among them, the export value of abrasives and abrasives has more than doubled year-on-year, surpassing metal cutting machine tools for the first time in the ranking of 10 categories of products, rising to the second place. The first place in the column is still the cutting tool. The annual export volume of cutting tools and abrasives exceeded 32.2% and 14.7% in the same period of 2008.
In 2010, the global machine tool market gradually recovered, and China's exports showed a recovery growth. At the beginning of the opening year, China’s export of machine tool tools has shaken off the negative growth of the previous year, with a year-on-year growth of 12.6%. In the first half of the year, export growth rose linearly and remained stable at a high level in the second half of the year. The year-on-year growth rate of exports of products of the whole industry increased by 82 percentage points over the previous year. (See Figure 1, Table 1 for details)
Table 1 Exports of machine tool products in 2010
First, the export of machine tool products
In 2010, China's exports of machine tool products totaled US$7.03 billion, up 48.4% year-on-year. It was only one step away from the historical peak of US$7.13 billion in 2008. Since January, the export volume of the whole industry has shown a positive growth. Due to the different degree of recovery of various products, the top 10 products have gone out of the previous year's negative growth predicament in the first four months. By the end of the year, the export volume of various products increased at a double-digit or even multiple rate. Among them, the export value of abrasives and abrasives has more than doubled year-on-year, surpassing metal cutting machine tools for the first time in the ranking of 10 categories of products, rising to the second place. The first place in the column is still the cutting tool. The annual export volume of cutting tools and abrasives exceeded 32.2% and 14.7% in the same period of 2008.
In 2010, the global machine tool market gradually recovered, and China's exports showed a recovery growth. At the beginning of the opening year, China’s export of machine tool tools has shaken off the negative growth of the previous year, with a year-on-year growth of 12.6%. In the first half of the year, export growth rose linearly and remained stable at a high level in the second half of the year. The year-on-year growth rate of exports of products of the whole industry increased by 82 percentage points over the previous year. (See Figure 1, Table 1 for details)
Table 1 Exports of machine tool products in 2010
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