Industries with the Biggest Decline in Imports in China in 2023

1. Solar Panel Manufacturing in China

Decline in Imports for 2023: -15.0%

Revenue for the the Solar Panel Manufacturing industry has increased a CAGR of 23.9% to $134.5 billion over the past five years. This includes expected growth of 23.1% in the current year. Over the past five years, Chinese solar cell output has been increasing at an annualized 36.1%.

The Solar Panel Manufacturing industry has been rapidly expanding over the past ten years. However, in March 2012, the US Government imposed anti-subsidy duties ranging from 2.9% to 4.7% on Chinese exports of solar panels and silicon, which contributed to the decline of exports in 2012 and 2013. In 2014, Asian demand for... Learn More

2. Ship Building in China

Decline in Imports for 2023: -14.4%

Over the five years through 2022, the Ship Building industry in China has been declining at an annualized rate of 6.4% to $42.6 billion. This industry's activities are highly concentrated in Jiangsu, Zhejiang, Shandong and Shanghai. Foreign-owned enterprises generate 29.5% of industry revenue. The largest two shipbuilding groups, CSSC and CSIC, produce over 60.0% of domestic metal ships.

In 2016, due to the insufficient market demands and excess production capacity, industry revenue declined 11.7% to $77.4 billion. In 2017, industry revenue continued to decline 23.4% to $59.3 billion. With weak demand and decreasing product prices, industry revenue decreased 31.5% to $40.6... Learn More

3. Coke Smelting in China

Decline in Imports for 2023: -11.5%

The Coke Smelting industry in China has experienced difficult operating conditions over the past five years. This result has been due to changing demands from downstream industries, increasing level of environmental protection requirements and fluctuation in the prices of industry products. Industry revenue is expected to increase at an annualized 5.0% over the five years through 2022, to total $116.2 billion. This trend includes an anticipated revenue increase of 6.4% in the current year. In the first half of 2022, affected by Russia Ukraine conflict, the Spring Festival, the Winter Olympics, production restrictions in autumn and winter and the COVID-19,... Learn More

4. Railway Equipment Manufacturing in China

Decline in Imports for 2023: -5.4%

China's railway transport system is owned and operated by the government. As a result, government investment in rail transportation is crucial for the Railway Equipment Manufacturing industry's long-term development. China's Ministry of Railways is the main purchaser of industry products, which are largely supplied by state-owned operator, CRRC Corporation Limited. The dominance of the company makes the industry a virtual monopoly. The largest organizations jointly account for over 97% of total industry revenue.

A recovery in government railway investment and growing demand for railway products have resulted in revenue stabilized over the past five years. However, the COVID-19 pandemic has affected... Learn More

5. Beer Production in China

Decline in Imports for 2023: -5.3%

Revenue for the Beer Production industry in China is expected to decline at an annualized rate of 1.6% over the five years through 2022, to total $28.0 billion. However, this overall decline includes an anticipated growth of 6.3% in 2022.

In recent years, bans on driving while under the influence of alcohol and bans on outdoor barbecuing have contributed to the industry's decline. Weaker consumer spending and unfavorable weather conditions, particularly rainstorms in the mid-lower reaches of the Yangtze River and parts of southern China, caused industry revenue to decrease by 9.9% in 2016. Since the second half of 2017, the... Learn More

6. Air-Conditioner Manufacturing in China

Decline in Imports for 2023: -4.7%

Revenue for the Air-Conditioner Manufacturing industry in China is expected to decline at an annualized 3.6% over the five years through 2022 from a high base year, to total $76.3 billion. This trend includes an expected decrease of 7.3% in the current year. Approximately 190 enterprises are expected to operate in the industry over the period, employing an estimated 291,114 people with a payroll of $5.0 billion.

Investment from both domestic and foreign enterprises operating in the industry has increased significantly over the past five years, especially in the room air-conditioner (RAC) manufacturing segment. The major manufacturers in the world including... Learn More

7. Meat Processing in China

Decline in Imports for 2023: -4.5%

Revenue for the Meat Processing industry in China is expected to rise at an annualized 4.6% over the five years through 2022, to $150.3 billion. This trend includes an anticipated decrease of 5.7% in the current year. The dietary patterns of Chinese consumers have changed significantly as lifestyles have gradually become faster paced. In addition, disposable incomes have been increasing. Processed meat consumption has been rising steadily, in line with income growth.

The industry in China produces a narrow range of processed meats. High-temperature meat products, such as sausages, do not require refrigeration and are cooked at about 120 degrees Celsius.... Learn More

8. Chemical Pesticide Manufacturing in China

Decline in Imports for 2023: -4.2%

Revenue for the Chemical Pesticide Manufacturing industry in China is expected to grow at an annualized 0.9% over the five years through 2022, to reach $54.2 billion. This growth includes an increase of 0.8% in the current year.

At the start of the five-year period in 2017, Government's regulations on chemical pesticides companies relating to safety, environmental protection and quality became increasingly strict. Industry revenue decreased by 1.3%, to $51.9 billion in the same year. Since 2018, the continuous strengthening of China's environmental protection measures has had an adverse effect on the industry. Early in the period, China's Chemical Pesticide Manufacturing... Learn More

9. Tobacco Growing in China

Decline in Imports for 2023: -4.0%

Tobacco is grown in over 125 countries on over 4.0 million hectares of land, a quarter of which is in China. The global tobacco crop is worth approximately $20.0 billion, a small fraction of the total amount generated from the sale of manufactured tobacco products around the world.

Tobacco is grown on less than 1% of the world's agricultural land and in a wide variety of soils and climates. Since the 1960s, the bulk of production has moved from the Americas to Africa and Asia. Land devoted to tobacco growing has been halved in the United States, Canada and Mexico, but... Learn More

10. Camera Equipment Manufacturing in China

Decline in Imports for 2023: -3.7%

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