The latest data released by the China Machine Tool & Tool Industry Association on the 3rd shows that from January to November 2022, the total import and export of China's machine tool industry was $30.48 billion, up 1.9% year-on-year. Among them, total imports of $11.41 billion, down 9.8% year-on-year; total exports of $19.07 billion, up 10.6% year-on-year. Machine tool imports and exports maintained the surplus trend since June 2019, with a surplus of $7.66 billion, an increase of 66.9% year-on-year.
From January to November 2022, the statistics of key contact enterprises of the China Machine Tool and Tool Industry Association reflected that the overall operating income of the industry continued to decline due to the impact of the rebound of the domestic epidemic. Thanks to the transformation and upgrading of the industry's corporate development approach and business management in recent years, the industry's overall total profit growth rate rebounded against the trend.
In addition, driven by the recovery of demand in areas such as automotive and electrical appliances, metalworking machine tools new orders and orders on hand increased significantly year-on-year, providing favorable conditions for the stable recovery of China's machine tool industry.
China Machine Tool Industry Association said that the current national epidemic is in the prevention and control conversion phase, the overall impact is still relatively severe, the machine tool industry is facing weak market demand and investment, supply chain instability and other issues have not been fundamentally changed, the next phase of industry operating pressure is still greater. However, with the recovery of socio-economic activities, the recovery and growth of China's machine tool market demand in 2023 is still expected.