From January to November 2007, the machinery industry achieved a total import and export volume of $327.11 billion, reflecting a year-on-year growth of 30.3%. Specifically, imports totaled $152.296 billion, up by 20.07%, while exports reached $174.814 billion, rising by an impressive 40.74%. This strong performance led to a record trade surplus of $22.518 billion.
Notably, the export growth rate outperformed that of imports across most sectors, with the exception of the cultural and office equipment industry, where import growth exceeded export growth. The construction machinery sector saw the highest export growth at 62.74%, followed closely by agricultural machinery (59.76%) and food packaging (58.75%). Other sectors such as automotive, heavy mining, internal combustion engines, and petrochemicals also showed robust growth.
All provinces and cities in China experienced growth in machinery imports and exports during this period. Out of 31 regions, 26 reported double-digit growth, with Xinjiang Autonomous Region leading at 111.51%. Other high-growth areas included Ningxia (71.39%), Hunan (65.53%), Inner Mongolia (62.73%), and Hebei (45.54%). Guangdong remained the top province in terms of total value, with $86.06 billion in trade, followed by Jiangsu, Shanghai, Zhejiang, and Beijing.
General trade outperformed processing trade, with a 35.95% increase compared to 31.75% for processing trade. General trade accounted for 50.04% of the total, highlighting its growing importance. Meanwhile, trade with major partners like Japan, the U.S., Germany, South Korea, the EU, and ASEAN all saw significant gains, with the EU and ASEAN showing the strongest growth at 31.69% and 47.59%, respectively.
Foreign-funded enterprises played a crucial role, contributing $202.284 billion in trade, or 61.84% of the total. Private enterprises also performed well, with exports reaching $41.607 billion, up 52.39% year-on-year. Finally, 83 out of 90 key machinery products saw year-on-year export growth, underscoring the sector’s broad-based strength.
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