Exports of China’s Mechanical and Electrical Products Increased by 12.5 Percent during the First Two Months in 2022

During the first two months of 2022, the imports and exports of China’s mechanical and electrical products totaled US$491.8 billion, 11.2 percent higher than a year prior. Besides, exports grew by 12.5 percent to US$317.7 billion, and imports grew by 9.1 percent to US$174.1 billion. The trade balance of mechanical and electrical products grew by 16.9 percent to US$143.6 billion in surplus.

According to the trade data of 12 categories of mechanical and electrical products released by the General Administration of Customs of the People’s Republic of China (GACC), the exports of motor vehicles (including chassis fitted with engines) increased significantly by 103.6% year-on-year, integrated circuits’ increased by 27.7%, general machines’ increased by 13.6%, automatic data processing machines and parts thereof’s increased by 9.7%, medical or surgical instruments and apparatuses’ increased by 6.0%, and parts and accessories of vehicle’s increased by 5.2%. Mobile phones continued the downward trend of quantity and upward trend of value, with the export quantity decreasing by 20.6% year-on-year and the export value increasing by 1.2%.

While the rest of categories’ exports decreased year-on-year. Audio or video devices and parts thereof’s decreased by7.5%, lamps and lighting fittings and parts thereof’s decreased by 6.0%, household appliances decreased by 3.6%, and ships decreased by 1.8%.

The imports of integrated circuits continued to grow with high speed, which increased by 19.2% year-on-year to US$68.8 billion, driving the imports of mechanical and electrical products by 7 percentage points simultaneously.

Data Source: www.customs.gov.cn