Development Trend of Casting Machinery Import and Export

China's total import and export of foundry machinery in 2022 will be US$560 million, a year-on-year increase of 8.4%. Among them, the export volume was US$390 million, a year-on-year increase of 9.8%; the import volume was US$170 million, a year-on-year increase of 5.6%; the trade surplus was US$220 million, a year-on-year increase of 12.8%.

China's total import and export of foundry machinery will continue to maintain a growth trend in 2023, and is expected to reach US$610 million, a year-on-year increase of 8.9%. The main reasons are as follows:

(1) With the recovery of domestic market demand, Chinese foundry machinery companies will increase the introduction and cooperation of foreign advanced technologies and equipment to improve their product quality and competitiveness, and promote technological innovation and transformation and upgrading.

(2) With the opening and recovery of the international market, Chinese foundry machinery companies will increase their exploration and expansion of foreign markets to increase their market share and brand influence, and promote product diversification and differentiation.

(3) As the international trade environment improves and optimizes, Chinese foundry machinery companies will strengthen risk management and response to foreign markets to improve their ability to resist risks and adapt to changes, and promote trade balance and stability.