According to customs data, there is an overall upward trend in 2023 compared to 2022. As of November, the cumulative export value of retreaded tires reached $12,316,100, showing a growth of 54.6% during the same period, marking a new high in the total export value of retreaded tires in nearly five years.
As of the end of November 2023, the cumulative export value for the year reached $1.182 billion, a decrease of 17.07% compared to the same period. The cumulative export volume reached 996,000 tons, with an increase of 13.04% during the same period. From this, it can be observed that although China's export volume of feed additives has increased in 2023, the market prices have seen a decrease compared to the previous year.
As of November 2023, the total export value of Chinese gas meters in 2023 amounted to $74,930,567, representing a 3.88% decrease compared to the same period, with an export quantity of 8,135,936 units, indicating a 13.22% decline.
According to customs data, the total import and export trade volume from January to October 2023 amounted to $3.078 billion, showing a 15.34% decrease compared to the same period. The net export volume reached 11.96 million tons, indicating a 14% increase during the same period. Out of this, the export volume was 87.2 thousand tons, while the import volume was 1,187.24 million tons, resulting in a trade deficit.
As of October 2023, China's total export value for the year reached 706.7 billion USD, showing an increase of 0.59 billion USD compared to the same period in 2022, with a growth rate of 8.3%.
According to customs data, the overall market remained relatively stable from 2018 to 2021, with the export value reaching 1.324 billion US dollars in 2021, showing a growth of 15.80% compared to the same period in 2020. However, in 2022, it hit a historic low in nearly five years, experiencing a 69.57% decline compared to the same period
According to customs data, the Chinese wire and cable industry (HS: 8544) has shown a steady upward trend since 2018, especially during the pandemic period. Due to the significant demand for global pandemic control equipment in Asia, export volumes increased substantially. Following the global economic recovery after the pandemic in 2021, the total import and export value of China's wire and cable reached $36.058 billion, with export totaling $29.568 billion, a growth of 29.83% compared to the same period. The import value was $6.49 billion, showing an 11.32% growth. Building on this foundation, in 2022, China's total import and export value of wire and cable reached $37.461 billion, with export totaling $31.209 billion, a 5.55% growth, and import totaling $6.252 billion, a 3.68% decline, setting a new record for recent years. However, with the global economic slowdown and changes in market demand, China's wire and cable exports are expected to decrease in 2023.
According to customs data, the total import and export value of Chinese transformers (HS: 85043/85042) exhibited a fluctuating upward trend from 2018 to 2022. In 2022, the total import and export value reached 5.143 billion USD, showing a year-on-year increase of 13.66%.
According to customs data, the foreign trade exports of China's voltage stabilizers (HS: 8504401) have shown a steady upward trend over the past five years, with a noticeable increase, especially during the period from 2021 to 2022. In 2021, the export quantity reached 1.567 billion units, marking a growth of 12.32% compared to the same period.
However, the overall export of Chinese inverters is still showing an upward trend. From January to September 2023, the cumulative export value was $826 million, indicating a growth of 38.43% during the same period, with a total export quantity of 41.418 million units, representing an increase of 17.45%.