According to China Customs statistics, from January to February 2021, Chinaese construction machinery products (89 types of HS codes, including 76 types of machines and 13 types of parts) totaled US$4.884 billion, a year-on-year increase of 54.31% (40.2 in the same period in 2019). Billion, a year-on-year increase of 21.49%). In the first two months, Chinese construction machinery imports and exports have achieved double growth for two consecutive months. In particular, exports have significantly exceeded the level of the same period in 2019 before the COVID-19.

        Due to the overtime production of domestic enterprises during the Spring Festival, the number of suspended voyages of shipping companies has decreased significantly, prompting a rise in February, which has always been at a low point. At the same time, despite the recurrence of the overseas epidemic, the economic construction of various countries is in the recovery stage. Construction projects such as infrastructure construction along the “Belt and Road” have been tendered one after another, and domestic companies have won good bids, which will bring certain benefits to China’s construction machinery exports.

        In the first two months, the export value of China’s construction machinery products was US$4.246 billion, a year-on-year increase of 59.84%. The export of complete machines was 3.758 million units, a year-on-year increase of 67.61%, and the export value was US$2.624 billion, a year-on-year increase of 61.93%, an increase far exceeding the same period in 2019 (30.55%); the export of parts and components was 671 million, a year-on-year increase of 44.55%. The export value was US$1.622 billion, a year-on-year increase of 56.56%, and the growth rate was also significantly higher than the same period in 2019 (21.95%).

        In terms of imports, in the first two months, China’s construction machinery products imported a total of 638 million US dollars, an increase of 25.42% year-on-year, and the performance was better than the same period in 2019 (-6.18%). Among them, the import of complete machines was 112,300 units, a year-on-year increase of 30.51%, and the import value was US$255 million, a year-on-year increase of 5.29%; the number of parts imported was 48.521 million, a year-on-year increase of 23.95%, and the import value was US$383 million, a year-on-year increase of 43.75%.

        With the rapid growth of China’s construction machinery, the production and sales of Weitai Final Drives products are booming.