The import and export of my country's hardware products industry continues to grow.

The 2018 import and export data released by the General Administration of Customs of China shows that import and export in various fields continue to grow. The important trading partners ASEAN, the United States, and the European Union account for more than 40% of imports and exports. In the quarter of 2019, ASEAN and the European Union continued to post solid growth, while trade frictions between the United States and China led to declines. Asia’s hardware trading platform is the China International Hardware Show (CIHS, October 10-12, 2019).

Data released by the General Administration of Customs of China in January showed that China’s total import and export volume in 2018 was 30.51 trillion yuan, an increase of 9.7% over 2017, of which exports increased by 7.1% to 16.42 trillion yuan, and imports were 14.09 trillion yuan, an increase of 12.9%. %. In 2018, my country's total foreign trade exceeded 30 trillion yuan for the time, setting a record high. In 2018, imports and exports with the EU, the United States, and ASEAN, the top three trading partners, increased by 7.9%, 5.7%, and 11.2% respectively. The three together accounted for 41.2% of my country's total imports and exports. During the same period, the total import and export volume between my country and countries along the “Belt and Road” increased to 8.37 trillion yuan, an increase of 13.3% over the previous year. In particular, imports and exports to Russia, Saudi Arabia, and Greece increased by 24%, 23.2%, and 33% respectively.

In terms of hardware, the total import and export volume of tool hardware products in 2018 was US$23.82 billion, of which the total export volume was US$16.23 billion, an increase of 0.06% over the previous year, and the total import volume was US$7.59 billion, an increase of 0.06%. A year-on-year increase of 8.91%.

In the quarter of 2019, affected by Sino-US trade friction, Sino-US trade volume was 815.86 billion yuan, a decrease of 11% from the previous year. At the same time, import and export volumes to the EU, ASEAN, Japan, etc. have increased. China's total import and export volume to the EU was 1.11 trillion yuan, an increase of 11.5%, accounting for 15.8% of the total foreign trade. The EU has been China's largest trading partner for 15 consecutive years. China's tool exports to Europe have mainly been DIY products for private end users in recent years. As retail consumers are more price-sensitive, my country's tool products will still enjoy a certain price advantage in the short term. Looking back at the product categories exhibited at the last CIHS, tools accounted for more than 60%; DIY, fasteners, and construction hardware accounted for 21%; security, locks, and accessories accounted for 11%, and garden tools accounted for 5%.

In 2019, China and the United States launched multiple rounds of trade negotiations. Although the results of the negotiations may have some positive impacts on some companies, companies need to develop based on self-improvement. Recognizing this, companies in the industry have begun to expand into new markets by increasing the proportion of high-end industrial products, building brand images, and using new channels such as cross-border e-commerce to gradually adapt to new changes and new demands in the international market. Keep up with industry developments.