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China recorded a favorable balance of US$499 million in plastics machinery trading in 2017.
China recorded a favorable balance of US$499 million in plastics machinery trading in 2017.

Exports of Chinese plastics processing machinery were recorded strong in 2017, according to the latest figures of China Plastics Machinery Industry Association (CPMIA).

There were 402 enterprises above designated size within China's plastics machinery industry in 2017. Throughout the year, the income from major operations increased 13% Year on Year (YoY), and the profit was up 22%. The exports remained strong, as delivery value grew 21% compared with the previous year.

In 2017, China imported 21,180 units of plastics machinery, a drop of 25% YoY. However, import values of US$1.741 billion represented an increase of 30%. This was due to the increase in the per unit import price which amounted to US$80,000 from US$50,000 in 2016.

The major types of machines being imported were injection molding machines, extruders and blow molding machines.

Machines from other Asian countries accounted for the major portion of China's imports, in which 16,623 units were shipped to China at US$1.02 billion in 2017. They represent 78.5% and 58.29% of the total volumes and values respectively.

In particular, imports from Japan grew by 47.2% and 43.97% in volumes and values compared with 2016.

Imports from Europe amounted to 2,588 units at US$640 million, representing 12.22% of the total volume and 36.57% of the total values. Germany's import volumes dropped 36.32% but values were increased by 14.6%, while import volumes and values from Italy were increased by 53.95% and 3.43% respectively.

For Austria, Switzerland and France, the import values were up 7.14%, 186.28% and 119.34% respectively.

China exported a total amount of 858, 109 units of plastics machinery at US$2.24 billion, grew 37% and 12% respectively YoY. The per unit export price was US$3,000.

As a result, China recorded a favorable balance of US$499 million in plastics machinery trading throughout the year, with injection molding machines accounting for the major part.

Injection molding machines, extruders, blow molding machines, bridge-die-forming machines and calendar forming machines were the major types of products being exported. In total, 100,541 units were exported at US$1.929 billion in 2017, representing just 11.72% of the total export volume but 86.09% of the export values.

Of the 10 major export destinations of China's plastics machinery in 2017, the US, India, Mexico, Malaysia and Bangladesh experienced faster growth. Meanwhile, Indonesia and Iran recorded bigger drop. 

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