Industries with the Biggest Decline in Exports in China in 2023

1. Logging in China

Decline in Exports for 2023: -74.5%

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.

China is currently the largest manufacturer of wood furniture in the world and the second-largest manufacturer of paper products only after the United States. Furthermore, the construction and real estate industries in China, two of the major consumers of wood products, have fallen over the... Learn More

2. Iron Ore Mining in China

Decline in Exports for 2023: -17.5%

Revenue for the Iron Ore Mining industry in China is expected to fall at an annualized 1.7% over the five years through 2023, including 9.2% growth in 2023, to $109.4 billion. Over 3,400 enterprises operate in the industry, with total employment of 604,225 and expected total output of 983.2 million tons of iron ore in 2023. The COVID-19 pandemic had a negative impact on the whole economy, with downstream steel enterprises delaying resuming work and production at the beginning of 2020. However, as the spread of the virus had come under control in China, the production and sales activities of... Learn More

3. Cotton Fabric and Yarn Manufacturing in China

Decline in Exports for 2023: -16.7%

The Cotton Fabric and Yarn Manufacturing industry in China is expected to decline an annualized 0.2% over the five years through 2023, to an expected $440.5 billion. This includes an anticipated 4.4% decrease in the current year. The economy rebounded the government's stimulus package led to substantial cotton fabric and yarn product demand growth. However, the cancellation of the country's three-year cotton storage policy led to a sharp decrease in cotton prices since 2016. The triple pressure of industry demand contraction, supply shock, and weakening expectations in recent years has significantly increased the complexity, severity, and uncertainty of the industry... Learn More

4. Aluminum Ore Mining in China

Decline in Exports for 2023: -11.5%

China's Aluminum Ore Mining industry's revenue is expected to increase an annualized 0.4% to $7.0 billion over the five years through to 2023, including 1.7% in 2023 alone when profit margins will increase to 8.4%. Slowdowns across downstream industries in China have limited industry revenue growth over the past five years. However, China remains the largest producer and consumer of aluminum globally, supporting local demand for aluminum ore. China's economy grew steadily in 2021, benefiting from its COVID-19 pandemic prevention and control, supporting Aluminium Ore Mining industry demand.

Market demand for alumina has increased. Factors like tight aluminum ore... Learn More

5. Oil & Gas Drilling in China

Decline in Exports for 2023: -10.6%

Revenue for the Oil and Gas Drilling industry in China is expected to increase 12.6% annually over the five years through 2023, but year-on-year growth is volatile. Growth in China's economy has been slowing down, which has led to a decline in the domestic crude oil price. As a result, revenue was fluctuated in the five-year period and has had varied growth since, with an estimated 5.6% increase in 2023 to $284.1 billion. Inflation and COVID-19 have increased industry volatility over the past five years. Profit margins have recovered to 18.2% in 2023.

There are three major participants in the Oil... Learn More

6. Fragrance and Essence Manufacturing in China

Decline in Exports for 2023: -10.4%

The Fragrance and Essence Manufacturing industry is an important raw material supporting industry of food and beverage, daily chemical and other industries, and is closely related to the improvement of residents' living standards, promoting domestic demand and consumption. Industry revenue is expected to total $14.0 billion in 2023, declined by 2.5% from 2022, mainly driven by economic downturn, shrinking demand and other factors. Industry revenue is expected to increase at an annualized 0.7% over the five years through 2023. Profit margins have recovered to 8.4% of industry revenue in 2023.

Technological development, especially patent technology, is critical for industry enterprises. Top... Learn More

7. Iron & Steel Casting in China

Decline in Exports for 2023: -8.6%

By volume, China's annual casting output has been the highest in the world for the past 10 years. China produced 16.3 million tons of castings in 2002, equal to the United States' and Japan's combined output. In 2023, China's casting output is expected to total 54.1 million tons. Industry revenue was declined at an annualized 2.0% over the five years through 2023, to $120.3 billion. This trend includes anticipated decrease of 7.5% in the current year.

Low labor costs in China have attracted increased investment from foreign casting enterprises, including those from the United States, Japan, Germany and the... Learn More

8. Plywood Manufacturing in China

Decline in Exports for 2023: -8.3%

Revenue for the Plywood Manufacturing industry in China is expected to grow at an annualized 1.3% over the five years through 2023 to total $130.2 billion. This includes an expected revenue increase in the current year by 4.8%. The number of enterprises in the industry is expected to grow at an annualized 1.0% over the five years through 2023. The industry's total workforce is estimated at 642,447 people in 2023 with a payroll of $4.2 billion. Profit margins have recovered to 5.7% of industry revenue in 2023.

Exports played an important role in the development of the industry until 2007, when... Learn More

9. Steel Rolling in China

Decline in Exports for 2023: -7.9%

In 2023, revenue for the Steel Rolling industry in China decreased by 7.4% to total $1.1 trillion. Over the past five years, revenue has increased at an annualized 1.1%, driven by rising demand for high quality and value-added steel products from downstream industries such as automobile manufacturing (IBISWorld industry report 3721) and real estate management and development (7210a and 7210b). Profit margins have recovered to 1.2% of industry revenue in 2023.

In recent years, industry operators have experienced supply surplus problems. However, long-term prospects are promising as China continues to become more urbanized and the government focuses on expanding infrastructure. The... Learn More

10. 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 6.5% over the five years through 2023, to $145.1 billion. This includes an expected revenue increase of 0.7% in the current year. Domestic demand for beef and mutton in China is expected to increase at an annualized 6.5% over the five years through 2023, 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... Learn More