In 2011, the import and export volume of China's machine tool industry was a record high

In 2011, the import and export of China's machine tool industry hit a record high. The cumulative import volume for the whole year was 20.29 billion U.S. dollars, an increase of 29.3% year-on-year, of which imported metal processing machines accounted for 13.24 billion U.S. dollars, accounting for 65.3%, an increase of 40.6% year-on-year. Japan ranks first in the country of import of metal processing machine tools in China, accounting for 40.6% of the total imports of metal processing machine tools. Germany, Taiwan, and South Korea ranked second to fourth. Four countries and regions together accounted for 79.5% of total imports. In 2011, total industry-wide exports reached US$8.90 billion, an increase of 26.4% year-on-year, of which exports of metal processing machines reached US$2.42 billion, an increase of 30.3% year-on-year. The United States and India are the major exporters of metal processing machines, with the two countries accounting for 15.5% of total exports.