Economic Operation Newsletter of Machine Tool Industry from January to July 2024

According to statistics from key contact enterprises of the China Machine Tool and Tool Industry Association, from January to July 2024, the operating income of key contact enterprises decreased by 3.6% year-on-year, and the total profit decreased by 14.7% year-on-year. All sub industries still maintained overall profitability. New orders for metal processing machine tools increased by 3.4% year-on-year, while orders in hand decreased by 2.0% year-on-year.

According to data released by the National Bureau of Statistics, from January to July, the production of metal cutting machine tools by enterprises above designated size in China was 388000 units, a year-on-year increase of 6.6%; The output of metal forming machine tools was 97000 units, a year-on-year increase of 3.2%.

According to Chinese customs data, the total import and export volume of machine tools from January to July was 18.11 billion US dollars, a year-on-year decrease of 2.6%. Among them, the import volume was 5.91 billion US dollars, a year-on-year decrease of 9.8%; The export value was 12.2 billion US dollars, a year-on-year increase of 1.4%.

(Source: China Machine Tool and Tool Industry Association cmtba)