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2022
Exports $1.72BWorld Rnk 1 / 165
Flag Rnk 332 / 1216
2022
Destination $119M Vietnam
2021 - 2022
FASTEST GROWING MARKET $119MVietnam
2022
PRODUCT COMPLEXITY IN Forging Machines1.5Rnk 53 / 1025
2022
Imports $825MWorld Rnk 2 / 211
Flag Rnk 256 / 1212
2022
Origin $22.3M Japan
2021 - 2022
FASTEST GROWING ORIGIN $22.3MUnited Kingdom
2022
ECONOMIC COMPLEXITY of China1.12Rnk 22 / 133

About

Exports In 2022, China exported $1.72B in Forging Machines, making it the 1st largest exporter of Forging Machines in the world. At the same year, Forging Machines was the 332nd most exported product in China. The main destination of Forging Machines exports from China are: Vietnam ($236M), India ($164M), Russia ($88.7M), United States ($81.3M), and Turkey ($68.6M).

The fastest growing export markets for Forging Machines of China between 2021 and 2022 were Vietnam ($119M), Turkey ($33.5M), and Malaysia ($25.4M).

Imports In 2022, China imported $825M in Forging Machines, becoming the 2nd largest importer of Forging Machines in the world. At the same year, Forging Machines was the 256th most imported product in China. China imports Forging Machines primarily from: Japan ($200M), Germany ($153M), Chinese Taipei ($100M), South Korea ($73.8M), and Switzerland ($63.3M).

The fastest growing import markets in Forging Machines for China between 2021 and 2022 were United Kingdom ($22.3M), United States ($15.8M), and Brazil ($9.53M).

COMPANIES In 2023, leading companies such as Goldensee Limited (104), Walmart (94), and REI (Recreational Equipment Incorporated) (33) were at the forefront of shipping Forging Machines from China to the United States.

Latest Trends

October 2024

About

Overview In October 2024 China's Forging Machines exports accounted up to $179M and imports accounted up to $47.1M, resulting in a positive trade balance of $132M. Between October 2023 and October 2024 the exports of China's   Forging Machines have increased by $27.5M (18.2%) from $152M to $179M, while imports decreased by $-30.8M (-39.5%) from $78M to $47.1M.

Destinations In October 2024, Forging Machines were exported mostly to India ($27.5M), Russia ($20.7M), Vietnam ($15M), Indonesia ($12M), and Turkey ($10.6M), and were imported mostly from Italy ($14.3M), Japan ($11.7M), Germany ($6.91M), Chinese Taipei ($4.87M), and South Korea ($2.58M).

Growth In October 2024, the increase in Forging Machines's year-by-year exports was explained primarily by an increase in exports to Turkey ($3.94M or 128%), Thailand ($2.98M or 89.2%), and India ($2.83M or 24.3%). In October 2024, the decrease in Forging Machines's year-by-year imports was explained primarily by a decrease in imports from Chinese Taipei ($-8.08M or -75.4%), Germany ($-4.99M or -41.4%), and Japan ($-3.11M or -23%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$27.5M(18.2%)
IMPORT GROWTH (October 2023 - October 2024)$-30.8M(-39.5%)
MAIN EXPORTER (October 2024)Jiangsu Province$51.1M
MAIN DESTINATION (October 2024)India$27.5M

This section shows Forging Machines's exports and imports data at subnational level for China. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Forging Machines over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.72B
IMPORTS (2022)$825M
NET TRADE (2022)$891M

In 2022, China exported $1.72B in Forging Machines. The main destinations of China exports on Forging Machines were Vietnam ($236M), India ($164M), Russia ($88.7M), United States ($81.3M), and Turkey ($68.6M).

In 2022, China imported $825M in Forging Machines, mainly from Japan ($200M), Germany ($153M), Chinese Taipei ($100M), South Korea ($73.8M), and Switzerland ($63.3M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Forging Machines EXPORT MARKETS FOR China WERE (2021 - 2022):
Vietnam$119M (101%)
Turkey$33.5M (95.2%)
Malaysia$25.4M (72.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Forging Machines BY China WERE (2021 - 2022):
South Africa-$20.1M (-51.7%)
Mexico-$15.1M (-23.1%)
Thailand-$13.8M (-18.9%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, China's main exporting competitors in Forging Machines were:
Italy $1.2B
Germany $1.02B
In 2022, China's main importing competitors in Forging Machines were:
United States $1.33B
Mexico $547M

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Trade Value of Forging Machines by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $65.3M
TOP IMPORT POTENTIALItaly+ $21.6M

Forging Machines’s highest export potential is India. With an export gap of $65.3M.   Forging Machines’s highest import potential is Italy with an import gap of $21.6M.

See methodology.

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