From January to May 2023, the export of construction machinery products increased by 30.4% year-on-year, and Russia remains the largest exporter!

From January to May 2023, the export of construction machinery products increased by 30.4% year-on-year, and Russia remains the largest exporter!

According to customs data, my country's construction machinery import and export trade volume from January to May 2023 was US$21.841 billion, a year-on-year increase of 27.2%. Among them, the import value was US$1.091 billion, a year-on-year decrease of 12.9%; the export value was US$20.751 billion, a year-on-year increase of 30.4%, and the trade surplus was US$19.66 billion, a year-on-year increase of US$5.004 billion.

In terms of imports, imports of parts and components amounted to US$754 million, a year-on-year decrease of 4.1%. Imports of complete machines amounted to US$336 million, a year-on-year decrease of 27.8%. The main products with increased import volume include: crawler excavators, stackers, bulldozers with power below 320 horsepower, etc.

In terms of exports, exports of parts and components amounted to US$6.149 billion, a year-on-year increase of 8.69%. Exports of complete machines were US$14.602 billion, a year-on-year increase of 42.4%. The main complete machines whose exports increased from January to May include: crawler excavators, electric forklifts, loaders, internal combustion forklifts, other truck cranes, elevators and escalators, off-highway dump trucks, etc. The export volume mainly decreased: concrete pump trucks, pile drivers and engineering drilling rigs.

In terms of major export countries, from January to May 2023, exports to the Russian Federation were US$2.848 billion, a year-on-year increase of 217.71%; exports to India were US$735 million, a year-on-year increase of 35.1%; exports to Africa and Latin America were US$3.536 billion, a year-on-year increase of 22.4%; exports to ASEAN US$3.214 billion, a year-on-year increase of 9.9%; exports to the EU and the United Kingdom were US$2.867 billion, a year-on-year increase of 13.9%; exports to the United States were US$1.862 billion, a year-on-year increase of 12.65%, accounting for 8.97%. Russia remains the largest export market for China's construction machinery in a single country.

Data source: China Construction Machinery Industry Association