Transformer is an electrical device used to alter the magnitude of alternating current (AC) voltage. It operates on the principle of electromagnetic induction, transforming the voltage at the input terminals to a different voltage at the output terminals. A transformer typically consists of two coils positioned on either side of a magnetic core: one coil at the input side, known as the primary coil, and the other at the output side, known as the secondary coil.

       In the world, many countries manufacture transformers, and China stands out as one of the largest transformer-producing nations globally. The transformer manufacturing industry in China holds a significant position in the international market, catering to both domestic and international demands.

      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%. The overall trade surplus demonstrated a fluctuating upward trend. In the period from January to September 2023, China's transformer imports amounted to 454 million USD, exports reached 3.751 billion USD, with a total trade value of 4.205 billion USD and a trade surplus of 3.297 billion USD, representing a year-on-year growth of 11.54%.

       From the perspective of export product structure, from 2018 to 2022, the main exported transformers were those with an unspecified rated capacity ≤1KVA and liquid-filled transformers with a rated capacity between 10MVA and 220MVA. These two types of products accounted for 44.22% and 16.93%, respectively. In the period from January to September 2023, the export share of liquid-filled transformers expanded, with the proportion of liquid-filled transformers with a rated capacity between 10MVA and 220MVA rising to 19.65%.

      Chinese transformer manufacturers play a crucial role in the international market, holding a significant share due to their large export volumes. According to customs data from 2018 to 2022, China's transformer exports were mainly concentrated in regions such as Hong Kong, the United States, Pakistan, Vietnam, Japan, Indonesia, Germany, the Philippines, Mexico, and India. In the period from January to September 2023, the top ten export markets were Hong Kong, the United States, Japan, Mexico, Indonesia, the Philippines, Bangladesh, Vietnam, India, and Spain. Compared to 2022, the rankings in some markets have slightly declined, which may be influenced by local trade policies, market demand, and other factors.

      China possesses significant advantages in the foreign trade export of transformers. Firstly, China has a vast electrical equipment manufacturing industry, which includes transformers. This economies of scale enable China to engage in large-scale production, offer competitive prices, and establish a robust supply chain system. Secondly, China's electrical manufacturing industry has made notable advancements in technological capabilities. Many Chinese companies have invested substantial resources in research and development for transformer design, manufacturing, and innovation, elevating the technical content of their products. Lastly, in terms of pricing, China's comparatively lower production costs make its transformers more competitive in the international market. This includes labor costs, raw material costs, and other manufacturing-related expenses. It's essential to note that these advantages are based on past circumstances, and the global economic and trade landscape is continually evolving. Therefore, it is crucial to stay informed with the latest foreign trade data for accurate assessments.

GuomaoTong, as China's first data company, can provide customs data for import and export from over 80 countries from 2010 to the present. We have the capability to conduct precise online analyses of market distribution, detailed transaction information for import and export enterprises, specific quantity and price analyses, as well as supply cycle assessments. We aim to offer reliable and data-driven insights for major foreign trade enterprises and industry consulting firms."