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In 2018, the growth rate of China's machinery industry dropped by 3.42% to 6.05%

Relase time:2019-12-30


  Industry operation differentiation is obvious. In 2018, the main business revenue of the machinery industry reached 21.38 trillion yuan, up 6.05% year on year. Total profit reached 1.45 trillion yuan, up 2.18% year on year. Although both indicators achieved positive year-on-year growth, compared with the previous year, the growth rate of main business revenue and total profit dropped by 3.42 and 8.56 percentage points respectively. Compared with the national industry, the growth rate of main business revenue and profit of machinery industry was 2.46 and 8.15 percentage points lower than the national industrial average in the same period.

  In 2018, the major sectors of the machinery industry showed obvious differentiation in economic operation. As the largest sub-industry of the machinery industry, the automobile manufacturing industry showed a significant decline. The main business revenue only increased by 2.9% and the total profit decreased by 4.67%, which were the main factors for the overall decline of the main indicators of the machinery industry. In other sub-industries, the main business revenue and profit of the construction machinery industry have increased significantly, with a growth rate of about 20%; Petrochemical general equipment manufacturing, heavy mining equipment manufacturing and machinery base components industry these two indicators of growth also reached about 10%; Electrical appliances, machine tools and other related industry indicators have maintained a basic growth rate of about 5%-8%.

  Production of more than half of the main products fell. By the end of 2018, of the 64 major products monitored by the machinery industry, 30 had a year-on-year increase in output, accounting for 47 percent, 17 less than the previous year. Thirty-four products, accounting for 53%, saw a year-on-year decline in output. Among them, output of 19 products turned from year-on-year growth to year-on-year decline, and output of 2 products turned from year-on-year decline to growth.

  First, construction machinery products have maintained growth on the basis of the high base of the previous year, with the growth rate of excavators approaching 50%, and the output of loaders, compaction machinery and electric forklifts increasing at around 15%. Second, the production of related equipment in the raw material industry has maintained growth. The output of metal smelting equipment and hoisting machinery has increased by about 30%, the output of cement equipment has increased by 10%, and the output of mining equipment and metal rolling equipment has increased by more than 6%. Third, a wide range of general equipment and all kinds of spare and accessory products are growing, and the output of fans, valves, wires and cables and forging parts is increasing at around 10%.