In the first half of the year, China's machine tool industry increased by more than 40% year-on-year

The China Machine Tool Industry Association (CMTBA) recently released statistics on China's machine tool industry operations in the first half of 2010. The data show that from January to June this year, the machine tool industry accumulated a total industrial output value of 242.42 billion yuan, an increase of 41.4%; cumulative sales of 235.87 billion yuan, an increase of 42.0%; profit of 10.91 billion yuan, an increase of 78.5 %.

Among them, the industrial output value of the gold-cutting machine tool industry was 57.21 billion yuan, a year-on-year increase of 31.7%. The total output of gold-cutting machine tools was 338,209 units, of which the production of CNC machine tools reached 94,519 units, an increase of 25.8% and 52.2% year-on-year, respectively; the total industrial output value of the forming machine tool industry was 17.91 billion yuan, a year-on-year increase of 42.9%. The output of forming machine tools was 131,331 units, of which the output of CNC machine tools reached 5,771 units, an increase of 30.0% and 22.3% year-on-year respectively.

In terms of imports and exports, the total amount of machine tool products imported in the first half of this year was 6.68 billion U.S. dollars, and total exports were 3.11 billion U.S. dollars, up 38.3% and 45.7% year-on-year respectively. Among them, the import and export volume of metal processing machines was 3.92 billion U.S. dollars and 810 million U.S. dollars, respectively, an increase of 24.2% and 20.0% year-on-year respectively.

According to the CMTBA, market demand began to slow in May and June after the “blowout” market demand in the first four months. From the statistics of key contact companies, the orders for certain heavy machine tools have started to decline since the first quarter. It can be expected that the market demand will slow down in the second half of the year.