The Secretariat of the Tool Branch of the China Machine Tool Industry Association has collected and sorted the import and export customs data of tools (cutting tools, measuring tools, and measuring instruments) in 2024, and has calculated and analyzed them, and released them for industry reference today.
In 2024, the export value of cutting tools was 25.653 billion yuan, a year-on-year increase of 9.8%, and the import value was 8.525 billion yuan, a year-on-year decrease of 2.66%. The export value of measuring tools and measuring instruments was 2.154 billion yuan, a year-on-year increase of 10.22%, of which the export value of measuring tools was 1.518 billion yuan, a year-on-year increase of 4.18%; the export value of measuring instruments was 636 million yuan, a year-on-year increase of 27.9%. The import value of measuring tools and measuring instruments was 1.346 billion yuan, a year-on-year decrease of 10.21%, of which the import value of measuring tools was 280 million yuan, a year-on-year decrease of 23.41%, and the import value of measuring instruments was 1.066 billion yuan, a year-on-year decrease of 5.95%.
1. Analysis of tool imports and exports
In 2024, the export value of tool was 25.653 billion yuan, a year-on-year increase of 9.8%; the import value of tool was 8.525 billion yuan, a year-on-year decrease of 2.66%. The export value was 3.01 times the import value, with a large increase in exports and a slight decrease in imports.
The main varieties and amounts of tool exports in 2024 were: drill bits (8.918 billion yuan), circular saw blades (4.502 billion yuan), interchangeable tools (2.756 billion yuan), blades (2.964 billion yuan), milling cutters (2.375 billion yuan), tapping tools (1.102 billion yuan), superhard hole processing tools (720 million yuan), superhard interchangeable tools (549 million yuan), and bimetallic band saw blades (518 million yuan).
The export of most tool varieties increased year-on-year. Among them, drills increased by 10.56% year-on-year, other milling tools increased by 18.65% year-on-year, boring or reaming tools with working parts made of superhard materials increased by 24.22% year-on-year, unlisted interchangeable tools with working parts made of other materials increased by 13.13% year-on-year, coated blades increased by 4.98% year-on-year, uncoated blades increased by 10.34% year-on-year, and taps increased by 0.29% year-on-year.
Figure 1 Classification of tool exports in 2024
The main varieties and amounts of tool imports in 2024 are: blades (3.803 billion yuan), drills (1.09 billion yuan), milling cutters (935 million yuan), tapping tools (860 million yuan), interchangeable tools (498 million yuan), superhard interchangeable tools (258 million yuan), and boring and reamer (220 million yuan).
The import of coated blades decreased by 0.43% year-on-year, and the import of uncoated blades decreased by 8.58% year-on-year. Superhard turning tools fell by 39.4%, bimetallic band saw blades fell by 38.9%, turning tools fell by 18%, milling cutters fell by 10.6%, taps fell by 4.8%, drills grew by 4.7%, and interchangeable tools grew by 17.3%
Figure 2 Classification of tool imports in 2024
In 2024, the import value of cemented carbide blades was 3.632 billion yuan, 1.33 times the export value of 2.723 billion yuan. The ratio of import and export blade amounts further narrowed. The export value of coated cemented carbide blades increased by 4.98% year-on-year, while the import value decreased by 0.43% year-on-year. Exports continued to grow and imports declined slightly. The export value of uncoated cemented carbide blades increased by 10.34% year-on-year, while the import value decreased by 8.58% year-on-year. Exports increased significantly and imports decreased significantly.
The main sources of imported coated blades are: Japan 24.5%, Sweden 16.54%, Germany 16%, Israel 11.55%, India 7.68%, the United States 7.52%, and South Korea 5.95%. The main sources of uncoated blade imports are: Japan 73.34%, Germany 9.46%, South Korea 6.35%, Thailand 1.54%, Luxembourg 1.53%, Taiwan 1.34%, and the United States 1.15%.
The main export destinations of coated blades are Russia, India, Germany, the United States, Turkey, South Korea, Serbia, etc. The main export destinations of uncoated blades are Russia, the United States, India, Germany, Japan, Mexico, Indonesia, etc.
In 2024, the export volume of drills was the largest, and the main export destinations were the United States, Germany, Taiwan, Russia, Vietnam, Thailand, South Korea, etc.
In terms of the unit price of tool imports and exports, comparing products with the same commodity code, the price of imported tools is much higher than the export price. For example: the average import price of coated blades is about 2.92 times the average export price, uncoated blades are 4.21 times, and taps are 8.44 times. The types of cutting tools with large changes in export unit prices are: the unit price of milling cutters decreased by 4.74% year-on-year, the unit price of drill bits decreased by 0.24% year-on-year, the unit price of taps decreased by 6.72% year-on-year, the unit price of bimetallic band saw blades decreased by 8.62% year-on-year, the unit price of coated blades decreased by 2.4% year-on-year, and the unit price of uncoated blades increased by 2% year-on-year.
2. Analysis of import and export of measuring tools and measuring instruments
In 2024, the export value of measuring tools and measuring instruments was 2.154 billion yuan, a year-on-year increase of 10.22%. Among them, the export value of measuring tools (micrometers, calipers and gauges) was 1.518 billion yuan, a year-on-year increase of 4.18%; the export value of measuring instruments (coordinate measuring machines, profile projectors) was 636 million yuan, a year-on-year increase of 27.9%.
In 2024, the import value of measuring tools and measuring instruments was 1.346 billion yuan, a year-on-year decrease of 10.21%. Among them, the import of measuring tools was 280 million yuan, a year-on-year decrease of 23.41%, and the import of measuring instruments (coordinate measuring instruments, profile projectors) was 1.066 billion yuan, a year-on-year decrease of 5.95%.
In 2024, the main export destinations of micrometers, calipers and gauges are the United States, Russia, Germany, Singapore, India, Spain, Malaysia, etc.
In terms of the import and export unit prices of measuring tools and measuring instruments, compared with the same commodity code products, the prices of imported measuring tools and measuring instruments are much higher than the export prices.
The export value of measuring tools (1.518 billion yuan) is much greater than the import value (280 million yuan), and the export value of measuring instruments (636 million yuan) is much less than the import value (1.066 billion yuan). The export of measuring tools and measuring instruments has increased significantly, while the import has decreased significantly.
Additional note: Customs data are classified according to customs import and export commodity codes, which is not completely consistent with the industry customary classification. The products listed in the table may not fully include all tool products, and may also include products that do not belong to the tool industry. When calculating the unit price of products, the unit of circular saw blades, razor blades and band saw blades is kilograms (kg), and the unit of other products is pieces.
EN