Industries with the Biggest Decline in Exports in China in 2023

1. Sheep and Cattle Farming in China

Decline in Exports for 2023: -7.6%

Revenue for the Sheep and Cattle Farming industry in China is expected to increase at an annualized 7.0% over the five years through 2022, to $144.1 billion. This includes an expected revenue increase of 3.8% in the current year. Domestic demand for beef and mutton in China is expected to increase at an annualized 7.1% over the five years through 2022, due to China's rising population and improved living standards. In addition, the prices of these meats have steadily increased over the past five years.

The industry's profit margins have declined over the past five years due to rising raw material... Learn More

2. Logging in China

Decline in Exports for 2023: -7.2%

As a steadily growing economy, China's demand for wood materials has grown at a volatile rate over the past five years. Real estate industries, infrastructure construction and furniture manufacturing industries are currently the major downstream consumers of logs, wood and timber in China. As local forest resources are scarce, the Logging industry relies considerably on imports.

Industry revenue is expected to fall at an annualized 1.5% over the five years through 2022, to $22.8 billion. This trend includes an expected decline of 3.5% in the current year. In 2016, the real estate inventory policy helped the real estate sector recover, which... Learn More

3. Audio Equipment Manufacturing in China

Decline in Exports for 2023: -6.2%

China is the largest production base for audio products in the world, and exports have been one of the main sources of industry revenue for decades. However, with rising incomes and cheaper products on the market, domestic demand has been increasing steadily to become the major source of industry revenue.

Industry revenue is expected to total $28.0 billion in 2022, increasing 2.6% from the previous year. Overall, industry revenue has grown at an annualized rate of 1.3% over the five years through 2022. Over the same period, exports decreased at an annualized rate of 10.7%, largely due to decrease in international... Learn More

4. Sawmills in China

Decline in Exports for 2023: -4.5%

China's increasing urbanization rate, which jumped from 60.2% in 2017 to 65.2% in 2022, has bolstered demand for construction wood, wood for decoration and wood furniture over the past five years. The rapid development of transportation infrastructure has also raised demand for special timbers and sleepers. These factors have benefited the Sawmill industry, causing industry revenue to increase at an annualized 4.5% over the five years through 2023, to total $28.0 billion. This includes a 4.1% increase in 2023. High purchasing and labor costs lead to low profitability, profit is account for 4.3% of total revenue in 2023.

Due to inadequate... Learn More

5. Motorcycle Manufacturing in China

Decline in Exports for 2023: -3.0%

The development of the Motorcycle Manufacturing industry in China has been affected by more restrictive policy and the popularity of automobiles in recent years. Revenue for the Motorcycle Manufacturing in China is expected to increase at an annualized 0.2% to $25.3 billion over the five years through 2023, including a drop of 8.3% in 2023 alone, when profit is anticipated to be 4.9%.

The Government in China has continuously issued industry policies to encourage the use of green vehicles such as new energy vehicles to travel. With the gradual penetration of energy conservation and emission reduction awareness in daily life, increasingly... Learn More

6. Cooking Oil Production in China

Decline in Exports for 2023: -1.7%

The Cooking Oil Production industry in China has grown its revenue rapidly over the past five years, mainly due to increased industry capacity and high domestic demand. As the country has changed its economic focus from exports to domestic demand and increased living standards, cooking oil consumption in China is expected to maintain a strong growth trend over the period. ACMR-IBISWorld expects industry revenue to total $306.6 billion in 2022, up 4.9% for the year. Over the five years through 2022, revenue has grown at an annualized 4.9%.

The small-package cooking oil segment accounted for 15.0% of total industry revenue in... Learn More

7. Camera Equipment Manufacturing in China

Decline in Exports for 2023: -1.5%

Revenue for the Camera Equipment Manufacturing industry in China is expected to decrease at an annualized 0.8% over the five years through 2023, to $9.5 billion. This includes an anticipated decline of 0.2% in the current year. The four largest industry players, Foshan Pulihua, Canon, Sony and Fujifilm, are expected to account for 70.7% of industry revenue in 2023.

China has become the world's largest production base for camera equipment. In addition, digital cameras have replaced traditional film cameras as the industry's main product, with digital single-lens reflex (DSLR) cameras and mirrorless cameras becoming increasingly popular with consumers. Digital cameras are... Learn More

8. Frozen Seafood Processing in China

Decline in Exports for 2023: -0.7%

China is one of the largest seafood-consuming countries in the world. Seafoods have the characteristics of low fat content, high protein content, and rich in various trace elements, which cater to the current market trend of pursuing healthy food and drink. As the largest part of aquatic processing products, frozen seafood products account for about 70.0% of the total output. Revenue for the Frozen Seafood Processing in China has increased at a CAGR of 0.3% to $77.8 billion over the past five years, including a growth rate of 2.5% in 2023 alone, when profit will be 4.2%.

Exports are expected to... Learn More

9. Book, Magazine and Periodical Printing in China

Decline in Exports for 2023: 0.2%

The Book, Magazine and Periodical Printing industry has a long history in China. Despite growing competition from online publishing, China's printing sector has maintained steady growth in the past five years. Digital publications are unlikely to completely displace printed materials in China.

In the five years through 2022, industry revenue is expected to increase by an annualized 2.1% to total $24.7 billion, including a 4.5% increase in 2022. Approximately 1,431 enterprises operate in the industry, employing about 206,147 people. Industry exports account for 7.7% of total industry revenue, totaling an estimated $1.9 billion for 2022. Imports account for 4.4% of domestic... Learn More

10. Pig Farming in China

Decline in Exports for 2023: 0.9%

Revenue for the Pig Farming industry in China is expected to grow at an annualized 13.5% over the five years through to 2022, to $88.2 billion. This trend includes an anticipated rise of 9.3% in the current year. Rising domestic living standards and purchasing power have stimulated demand for pork. Many small and mid-size pig farming enterprises have exited the industry since 2012, having been affected by the implementation of strict environmental regulations in China. Moreover, due to the strong fluctuations in meat prices, the number of slaughtered fattened hogs decreased from 708.3 million to about 671.3 million over the... Learn More