In the first quarter of this year, the scale of China's import and export exceeded 10 trillion yuan for the first time in the history of the same period, and the growth rate of import and export hit a new high in six quarters. In the first quarter, according to customs statistics, the total import and export value of China's goods trade was 10.17 trillion yuan, an increase of 5% year-on-year (the same below). Of this total, the export was 5.74 trillion yuan, up by 4.9%; Imports reached 4.43 trillion yuan, an increase of 5%; Exports and imports accelerated 4.1 percentage points and 2.3 percentage points respectively over the fourth quarter of last year.
The export of mechanical and electrical products has a good momentum. In the first quarter, China's export of mechanical and electrical products was 3.39 trillion yuan, an increase of 6.8%, accounting for 59.2% of the total export value; Among them, computers and their parts, automobiles and ships increased by 8.6%, 21.7% and 113.1%, respectively.
From the perspective of plastic machinery, injection molding machine as one of the main categories of plastic machinery, the global injection molding machine market sales reached 9.427 billion US dollars in 2023, and is expected to reach 10.4 billion US dollars in 2030, with a compound annual growth rate (CAGR) of 1.5% (2024-2030). In terms of region, China is the largest injection molding machine market, holding a larger market share. From the perspective of product type, the injection molding machine with mold locking force (250-650T) accounts for a relatively large proportion. In terms of application, the automotive sector has the largest share, followed by general plastics.
In general, the first quarter of China's foreign trade has a strong start and a good momentum, laying a solid foundation for achieving the goal of "quality and quantity stability" throughout the year. At present, the international environment has undergone profound changes, and the world economic development is facing many severe challenges, all of which will bring greater tests to China's foreign trade. But at the same time, it is more important to see that China's economic fundamentals continue to improve, the comprehensive competitive advantage of foreign trade is more consolidated, and the continuous improvement of imports and exports has solid support.
Post time: Jul-12-2024