Industries with the Biggest Decline in Imports in China in 2024

1. Ship Building in China

Decline in Imports for 2024: -13.1%

Over the five years through 2023, the Ship Building industry in China has been declining at an annualized rate of 0.4% to $52.3 billion. This industry's activities are highly concentrated in Jiangsu, Zhejiang, Shandong and Shanghai.

With weak demand and decreasing product prices, industry revenue decreased 26.2% to $53.4 billion in 2018. In 2019, China completed 36.7 million DWT (Dead Weight Ton) of shipbuilding, increasing 6.1% from 2018. However, mainly due to insufficient market demand, industry revenue decreased by 11.0% from 2018. In 2020, affected by the global spread of the COVID-19 pandemic, the slowdown of the world economic recovery,... Learn More

2. Wine Production in China

Decline in Imports for 2024: -9.6%

Revenue for the Wine Production industry in China steadily increased pre-2013 alongside economic prosperity, rising household income and the gradual popularization of wine culture. These trends have helped enrich consumers' wine knowledge, stimulating wine consumption. In addition, the government has encouraged consumption of beverages with lower alcohol content, like wine. Since 2013, industry revenue has trended downward due to low industry output resulting from insufficient vineyards and Chinese consumers' drinking preference for Chinese alcohol. In 2023, industry revenue is set to decrease 8.5%, to $1.3 billion. Industry revenue is expected to fall an annualized 16.2% over the five years through... Learn More

3. Chocolate & Candy Production in China

Decline in Imports for 2024: -7.5%

As China gradually evolves into a consumer society, new products, including chocolate and candy, are appearing with increasing regularity. In particular, rising average annual incomes, increased exposure to Western and international cuisines and a greater range of confectionery goods in supermarkets are contributing to rising sales of industry products in China.

Despite the expansion, revenue for the Chocolate and Candy Production industry in China has declined at an annualized 2.4% over the five years through 2023, to total $19.9 billion. This decline follows decreasing demand from the domestic market during the COVID-19 pandemic. However, this overall trend includes expected growth of... Learn More

4. Coke Smelting in China

Decline in Imports for 2024: -7.3%

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 2.6% over the five years through 2024, to total $116.5 billion. This trend includes an anticipated revenue increase of 2.6% in the current year.

Industry profit is relatively low, expecting to account for 3.6% of revenue in 2024. This trend is despite the industry benefiting from strong downstream demand and... Learn More

5. Integrated Circuit Manufacturing in China

Decline in Imports for 2024: -6.9%

China is the world's largest and fastest-growing integrated circuit market, and is also an important producer and provider of integrated circuits. The Integrated Circuit Manufacturing industry in China is expected to grow at an annualized 11.8% over the five years through 2023 to $283.3 billion, maintaining a sustained and stable growth trend over the period. This includes growth by 9.3% in the current year. The huge demand from terminal application markets like industrial equipment, communication networks, and new energy vehicles has contributed to revenue growth. An increased focus on intellectual property and patents has also promoted revenue growth. Moreover, national... Learn More

6. Baby Product Manufacturing in China

Decline in Imports for 2024: -5.0%

The Baby Product Manufacturing industry in China produces a range of products, such as baby food, clothing, toys and skincare products. The industry has grown steadily over the past five years. Industry revenue is expected to increase at a CAGR of 0.8% over the five years through 2023, to $184.8 billion, increasing by 3.7% from 2022. China's one child policy, which was relaxed in November 2013. China's Two-child and Third-child policy was implemented comprehensively in 2015 and 2021. This has encouraged parents to spend as much as they can on baby rearing. Additionally, China's growing economy has stimulated demand for... Learn More

7. Chemical Pesticide Manufacturing in China

Decline in Imports for 2024: -4.5%

Revenue for the Chemical Pesticide Manufacturing industry in China is expected to grow at an annualized 1.3% over the five years through 2023, to reach $54.7 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

8. Railway Equipment Manufacturing in China

Decline in Imports for 2024: -4.2%

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 State Railway Group Co., Ltd. (China Railway) is the main purchaser of industry products, which are largely supplied by state-owned operator, CRRC. The dominance of the company makes the industry a virtual monopoly, with over 95% 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 industrial production and... Learn More

9. Beer Production in China

Decline in Imports for 2024: -4.2%

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 9.9% in 2016. Since the second half of 2017, the price of raw materials of beer production rose rapidly, compressing industry profit margins. In order to improve profitability, most industry companies increased the selling prices of beer products in early 2018, ranging from 10% to 50%. Industry leaders further reduced... Learn More

10. Organic Chemical Material Manufacturing in China

Decline in Imports for 2024: -4.1%

Products from the Organic Chemical Material Manufacturing industry in China are widely used in many downstream industries and the industry's performance is closely related to the country's economic performance. Over the five years through 2023, industry revenue is expected to grow at an annualized rate of 11.2% to $422.1 billion, including 6.0% growth in 2023. Stable growth of China's economy and improving living standards of Chinese residents have promoted the demand for chemical products like plastic, rubber, synthetic fibers, coating, etc., which also supported the demand for organic chemical materials. Ethylene output, a representative product in the industry, will increase... Learn More