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The Overview of Foreign Trade of China’s Hardware Industry in 2016

 

1. The foreign trade of hardware industry shows negative growth due to multiple factors

According to the Custom, from Jan.-Dec., 2016, the total export & import amount of China’s Hardware Industry reached 116.947 billion US dollars, a 6.98% decrease year on year. This is the first negative growth in the industry in recent years, and the growth rate decreased 7.73-percentage points over the same period last year. To be specific, the total export amount reached 95.237 billion US dollars, decreasing 8.53% year on year and dropping 11.34 percentage points compared to the same period of last year; the total import amount reached 21.71 billion US dollars, with a year on year growth of 0.49%, increasing 8.6 percentage points compared to the same period of last year. In 2016, the foreign trade of China’s Hardware Industry encountered a downward pressure, with 9 months trade slowdown. In the second half of 2016, the export & import trade recovered gradually; therefore, the overall accumulative growth rate returned to a positive growth.
Diagram 1-1 Monthly Import & Export Amount of China’s Standard Hardware Industry for Three Consecutive Years

2. Most sub-sectors encountered negative growth in the foreign trade

From Jan.-Dec., 2016, among all sub-sectors of hardware industry, building hardware, hardware tools, bathroom hardware and daily hardware accounted for as high as over 10% in terms of total import and export amount and reached 37.952 billion US dollars, 20.919 billion US dollars, 16.132 billion US dollars and 15.882 billion US dollars, respectively.

Only hardware tools maintain a positive growth of 0.27%, while all other sub-sectors encountered negative growth. Stainless steel tableware suffered the most, the rate of which dropped over 20%. 

 

 

Diagram 1-2 The Proportion of Import & Export Amount of China’s Hardware Sub-Sectors for Jan.-Dec., 2016 

Table 1-1 The Import & Export Amount and YoY Proportion of China’s Hardware Sub-Sectors for Jan.-Dec., 2016

(In descending order of YoY growth)         Unit: USD

No.

Name

Cumulative Current Period

Cumulative Corresponding Period last Year

YoY

1

Hardware Tool

20,919,131,181

20,862,057,368

0.27%

2

Range Hood

489,980,436

490,635,709

-0.13%

3

Zipper

1,231,451,634

1,243,457,397

-0.97%

4

Daily Hardware

15,881,804,062

16,355,195,289

-2.89%

5

Bathroom Hardware

16,132,026,127

17,317,472,847

-6.85%

6

Kitchen Appliance

2,273,353,256

2,459,369,340

-7.56%

7

Cookware & Aluminum Product

9,296,529,497

10,168,295,835

-8.57%

8

Building Hardware

37,951,814,789

42,017,737,676

-9.68%

9

Gas Appliance

4,428,937,094

4,987,769,266

-11.20%

10

Lock

6,831,794,803

7,918,867,459

-13.73%

11

Stainless Steel Tableware

1,510,497,686

1,903,567,452

-20.65%

 

3. Foreign trade growth rate is slightly slower than the Light Industry

From Jan.-Dec., 2016,the total foreign trade of China’s Light Industry fell 6.59% year on year, compared with China’s Hardware Industry that fell 6.98% year on year, slightly lower than the Light Industry. The import growth for China’s Light Industry and Hardware Industry fell 7.85% and 8.53%, respectively. China’s Light Industry and Hardware Industry grew -0.75% and 0.49% in terms of import, respectively. The export growth of Hardware Industry was lower than the Light Industry, and its import growth was higher than the Light Industry.

From the diagram below, it is obvious that both industries almost followed the same growth curve, but in July, August, November and December, the foreign trade growth of Hardware Industry was higher than the Light Industry.

Diagram 1-3 Foreign Trade Monthly Growth for Light Industry and Hardware Industry in 2016

 

4. Both trade surplus and growth dropped, but the surplus amount still remained higher

Since China’s hardware industry is an export-oriented industry, export trade is very crucial to the hardware industry. From Jan. –Dec., 2016, the total accumulated trade surplus of hardware industry reached 73.527 billion US dollars, with a decrease of 8.593 billion US dollars from the same period of 2015 and a surplus decline of 10.46% year on year; the growth rate of trade surplus of hardware industry dropped 16.64 percentage points compared to 2015. Although the trade surplus amount of China’s Hardware Industry was increasing in recent years and this year is the first time the industry encountered a trade surplus decline, the surplus amount still accounted for 62.87% of total foreign trade, which indicates Hardware Industry still plays a pivotal role in earning foreign exchange through exporting.



 

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04-07 March
2018 ,Cologne
05-07 March
2019, Cologne
 
LivingKitchen China
/ CIKB 2017

22-24 Oct, 2017
 
 
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