According to the data of China Customs, the import and export of machine tools in the first half of 2021 showed an overall trend of significant growth. The total import and export volume was 15.85 billion USD, up 29.2% year on year, and the growth rate was 1.3 percentage points lower than the first quarter. Compared with the first half of 2019, the growth rate was 13.3 percent, with a two-year average of 6.4 percent.
The import and export of machine tools in the first half of 2021 maintained a surplus since June 2019. Imports of machine tools were us $6.97 billion, while exports were US $8.87 billion, with a surplus of US $1.90 billion, up US $1.15 billion from the first quarter. The trade surplus is in six categories of metal forming machine tools, woodworking machine tools, cutting tools, abrasives and abrasives, and casting machines.
In terms of imports, imports in the first half of 2021 showed an overall trend of significant growth. Imports grew by 19.0 percent year-on-year, 3.9 percentage points lower than in the first quarter, and 0.3 percent higher than in the first half of 2019, with a two-year average growth rate of 0.2 percent. Among them, the import of metal processing machine tools was us $3.71 billion, up 27.8% year on year. Among them, the import of metal cutting machine tools was us $3.10 billion, up 28.6% year on year. The import of metal forming machine tools was us $600 million, up 23.7% year on year. Imports of cutting tools amounted to $850 million, up 23.7% year on year. Imports of abrasives and abrasives amounted to 380 million US dollars, up 29.2% year on year.
From the perspective of import sources, the top three import sources from January to June 2021 are exactly the same as the first quarter, which are: Japan $2.36 billion, up 49.2% year on year; Germany, $1.41 billion, up 7.2%; Taiwan, China, $930 million, up 37.5% year on year.
In terms of exports, the first half of 2021 generally continued the trend of large growth in the first quarter. Exports grew by 38.5% year on year, 1.2 percentage points lower than the first quarter, and 26.1% higher than the first half of 2019, with a two-year average growth rate of 12.3%. Among them, the export of metal processing machine tools was $2.45 billion, up 42.8% year on year. Among them, the export of metal cutting machine tools was us $1.70 billion, up 42.3% year on year; Metal forming machine tool exports 760 million US dollars, year-on-year growth of 44.0%. The export of cutting tools was us $1.77 billion, up 43.1% year on year. Abrasives $1.87 billion, up 67.7 percent year on year.
From January to June of 2021, the top three exports are exactly the same as the first quarter: US $1.10 billion, up 31.2% year on year; Vietnam, $760 million, up 60.0%; India $590 million, up 85.3 percent.
