Affected by the global economic downturn, in the four years from 2012 to 2016, the export volume of German machine tools to China showed a downward trend year by year, from the original 2.62 billion euros to 1.88 billion euros. However, as China's economic growth resumed and “smart manufacturing†promoted industrial acceleration, the export volume of German machine tools to China rose again in 2017. Grinding machines, lathes, machining centers and gear cutting machines in Germany have become the main importers of machine tools in China.
In addition, in terms of China's machine tool exports to Germany, Germany's purchases accounted for 4%-5% of China's total machine tool exports in 2017, making it the fifth largest machine tool exporter in China. On the one hand, Chinese machine tool exports to Germany prove that Sino-German machine tool trade is not a one-way street, on the other hand, it also shows the continuous progress and development of China's machine tool technology.
In 2017, the export volume of German machine tools to China was reduced.
After four consecutive years of landslides, German machine tool exports to China finally rebounded from last year. In 2017, German machine tool exports to China reached 2.17 billion euros, a substantial increase of 16%, setting a new record for German machine tool exports since 2012.
The growth of German machine tool exports to China is due to the recovery of China's economic growth. With the "Made in China 2025" strategy and the arrival of Industry 4.0, "Intelligent Manufacturing" has become a hot word in the Chinese manufacturing industry. New energy vehicles, industrial robots, and lasers are growing rapidly, and manufacturing demand for machine tools is increasing, especially in the field of high-end machine tools.
This is also reflected in the type of German machine tool exports to China. Metal cutting machines such as machining centers, grinding machines, gear cutting machines and lathes have become the mainstays, and their exports have increased compared to 2016. Bending machines and coiling machines have the fastest growth rate, up 77% compared with 2016. The transformation of China's industrial system has not yet been completed. For the continuous development of the modern industrial system in China, high-tech machinery is indispensable, and the demand for high-end machine tools will continue to grow.
German purchases account for 4%-5% of China's total machine tool exports
In 2017, China's machine tool exports totaled 9.24 billion euros, an increase of 13.94%. Among them, Germany's purchases in 2017 accounted for 4%-5% of China's total machine tool exports, making it the fifth largest exporter. This also proves that Sino-German machine tool trade is not a one-way street. In recent years, China's machine tool industry has promoted a large increase in machine tool exports through innovation-driven, structural adjustment, transformation and upgrading, and the industry situation has improved.
Among the Chinese machine tool-to-German export types, components and accessories, grinding machines, as well as lathes and drill presses are the focus of German procurement. According to the economic forecast released by the German Federal Ministry of Economics and Energy, the German economy is expected to grow by 2.3% and 2.1% respectively this year and next. Affected by economic growth, it is believed that the purchase of German machine tools in China will increase further in 2018.
Prospects for Sino-German Machine Tool Trade in 2018
At present, China is the largest machine tool market in the world with a total market volume of 23 billion euros. Recently, China's demand for machine tools is 2.5 times that of the second and third US or Germany. In 2017, China's machine tool consumption continued to rise, with an increase of 6%.
According to customs statistics, in 2017 China's total imports of machine tools reached 12.065 billion euros, an increase of 18.2%; exports of 9.2 billion euros, an increase of 13.94%, and import and export deficit of 2.865 billion euros. With the rapid development of China's automotive, aerospace, marine, power equipment, engineering machinery and other industries, the demand for CNC machine tools will continue to increase.
On the one hand, China is facing the overcapacity of low-end CNC machine tools and the shortage of high-end CNC machine tools, which leads to structural imbalances on the supply side. Domestic machine tools are difficult to replace imports; on the other hand, with the arrival of “smart manufacturingâ€, the factory floor The development of digital, industrial robots and additive manufacturing will continue to grow, and the demand for high-end machine tools will intensify. As one of the major countries in China's machine tool imports, Germany is affected by the increased demand for Chinese machine tools. It is expected that exports to China will increase in 2018.
In terms of China's machine tool exports to Germany, the export volume has maintained a steady development trend. In the past five years, Germany's purchases accounted for between 4% and 5% of China's total machine tool exports, and it is expected to remain stable in 2018. But in the long run, this number will increase as the advanced technology of Chinese machine tools continues to develop.
According to Oxford Economics, all key statistics for Sino-German machine tool trade will increase in 2018, from overall economic performance, industrial output and capital investment to machine tool consumption. In particular, machine tool consumption, which is an important indicator of bilateral trade quality, is expected to continue to grow at a significant rate of 6% after two years of strong growth.
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