In the first half of the year, imports and exports of the machinery industry continued to maintain a steady growth, achieving a total import and export volume of 131.509 billion U.S. dollars, an increase of 28.41% year-on-year, including exports of 65.286 billion U.S. dollars, an increase of 36.15% year-on-year; imports of 66.223 billion U.S. dollars, an increase of 21.60% year-on-year. 3.7 billion U.S. dollars, a decrease of 5.572 billion U.S. dollars over the same period last year, with a trade deficit of 6.509 billion U.S. dollars.
In the month of June, the machinery industry achieved a total foreign trade value of 24.5 billion U.S. dollars, a year-on-year growth of 26.56%. Among them, exports were US$12.073 billion, up 31.18% year-on-year; imports were US$12.427 billion, up 22.37% year-on-year, and the current trade deficit was US$354 million.
The increase in imports was lower than the increase in exports from January to June. The machinery industry achieved foreign trade imports of 66.223 billion U.S. dollars, a year-on-year increase of 21.6%, which was lower than the export growth rate of 14.55 percentage points, but increased 21.71 percentage points over the same period of last year. From the first half of the year, the cumulative monthly import growth has been maintained at more than 20%. From January to June, the import growth of the machinery industry in all industries except for the heavy mining industry and food packaging industry, the other 11 industries have different degrees of growth, of which the higher increase is 60.19% of the automotive industry, cultural and office machinery industry 42.36%, 36.13% of the construction machinery industry, 35.93% of the internal combustion engine industry. From the perspective of import value, the highest import value of the electrical and electronics industry was 15.297 billion U.S. dollars, an increase of 23.13% year on year, followed by the 9.77 billion U.S. dollars in the instrumentation industry, which was an increase of 22.67% year-on-year.
From January to June, foreign trade and export of the machinery industry continued to maintain double-digit growth. Among them, 9 industries grew at more than 30%. The highest increase in the industry is still 68.63% of the construction machinery industry, followed by the cultural office machinery industry and agricultural machinery industry, the year-on-year increase was 50.14% and 46.73%.
The electrical and electronics industry achieved the highest export value, with an accumulated export value of 16.821 billion U.S. dollars, an increase of 36.86% year-on-year; followed by the petrochemical general industry of 11.887 billion U.S. dollars, an increase of 30.83% year-on-year; and the auto industry was 7.665 billion U.S. dollars, an increase of 45.9% year-on-year; The cultural office machinery industry was 7.118 billion U.S. dollars, an increase of 50.14% year-on-year; the instrumentation industry was 4.911 billion U.S. dollars, an increase of 3.284 billion U.S. dollars. The five industries achieved a total export value of 48.402 billion US dollars, accounting for 74.14% of the total value of the export of the machinery industry.
The eastern region dominated the growth of foreign trade in 31 provinces, municipalities, and autonomous regions. In the first half of the year, Guangdong, Jiangsu, Shanghai, Zhejiang, and Beijing had accumulated cumulative import and export volume, and the total volume of imports and exports in the five provinces and cities reached 976.81. Billion U.S. dollars accounted for 74.28% of the total import and export volume of machinery industry products, and became the main force supporting the import and export of machinery industry's foreign trade. Among them, the export volume of Guangdong Province has exceeded US$20 billion, ranking first. From the increase in exports by provinces and cities, the growth rates of Heilongjiang Province and Xinjiang Autonomous Region were 141.21% and 103.99% respectively, ranking the top two.
In terms of import value, Guangdong, Jiangsu, Shanghai, Beijing, and Tianjin rank among the top five provinces and cities, with a total import value of US$48.477 billion, accounting for 73.20% of the import value of the machinery industry. From the increase in imports by provinces and cities, the year-on-year growth of Qinghai Province and Yunnan Province was 227.28% and 94.62%, respectively, ranking the top two in the province.
Asia is still a major trading partner In the first half of the year, the import and export volume of the machinery industry to major countries and regions maintained growth momentum. The largest amount was still in the Asian market, with an export volume of 30.10 billion U.S. dollars, an increase of 32.38% year-on-year; Fast was US$2.881 billion in Latin America, an increase of 87.41% year-on-year; Africa was US$2.611 billion, a year-on-year increase of 40.5%.
In the import trade, the largest amount was also in the Asian market, with an import value of US$38.422 billion, an increase of 22.06% over the same period of last year. The fastest year-on-year increase in imports was 49.7% in Africa, followed by 33.63% in Latin America and 23.34% in North America.
In the first half of the year, Japan remained the first trading partner of the machinery industry, achieving a total bilateral trade volume of 2.927 billion U.S. dollars, a year-on-year increase of 24.51%; the U.S. as a second trading partner, achieving a total bilateral trade volume of 20.077 billion U.S. dollars, an increase of 33.45% year-on-year; The third is Germany. The total bilateral trade volume reached 12.874 billion U.S. dollars, a year-on-year increase of 22.34%. The total bilateral trade volume with South Korea was 8.159 billion U.S. dollars, an increase of 25.89% year-on-year. The EU achieved a total bilateral trade volume of USD 31.358 billion, a year-on-year increase of 23.99%, and ASEAN’s total bilateral trade volume of USD 7.615 billion, a year-on-year increase of 25.89%.
The momentum of foreign-owned enterprises remained strong The imports and exports of state-owned enterprises in the machinery industry continued to grow steadily in the first half of the year, and the import and export volume reached US$27.951 billion, an increase of 14.01% over the same period of last year and accounted for 21.25% of the import and export volume of the machinery industry. Exports reached US$13.422 billion, a year-on-year increase of 22.54%, accounting for 20.56% of the export value of the machinery industry; imports of US$14.529 billion, an increase of 7.12% over the same period of the previous year, accounting for 21.94% of the import value of the machinery industry. The state-owned enterprises realized a total trade deficit of US$1.107 billion.
The import and export of private enterprises maintained a rapid growth, with an import and export volume of 21.542 billion U.S. dollars, an increase of 43.98% year-on-year, accounting for 16.38% of the import and export volume of the machinery industry. Among them, the export value was US$14.298 billion, which represented a year-on-year increase of 46.5%, accounting for 21.9% of the total value of the machinery industry's exports. Imports reached US$7.244 billion, which represented a year-on-year increase of 39.23%, accounting for 10.94% of the machinery industry's imports. The private enterprises realized a total trade surplus of US$7,054 million.
Of the foreign-funded enterprises, the foreign-funded enterprises had the highest import and export volume, which was 51.309 billion U.S. dollars, an increase of 37.43% year-on-year, accounting for 39.02% of the import and export volume of the machinery industry.