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%.
From 2018 to the present, China's electric meter export volume has consistently shown an upward trend. In 2023, China exported a cumulative total of 55.937 million units, marking a growth of 34.1% compared to the same period. The total cumulative export value reached 1.088 billion US dollars, representing a 22.2% increase during the same period.
According to customs data, although China's chromatograph exports have experienced fluctuations in the past few years, there has been an upward trend both in terms of quantity and value from 2021 to 2022. As of August 2023, China has exported a total of 17,699 units, amounting to 99.2 million US dollars.
According to customs data, the export value of incubators has fluctuated in recent years, with a relatively stable overall trend despite a significant increase in 2020. However, the export quantity increased in 2022, with a year-on-year growth of 18.34%. As of now, the total export value for 2023 is $366 million, with a year-on-year decrease of 3.57%. The cumulative export volume is 20.55 million units, showing a year-on-year decrease of 23.9%. While the decrease in value is relatively small, the decrease in quantity is more substantial.