Fastest Growing Industries by Imports in China in 2023

1. Coal Product Manufacturing in China

Growth in Imports for 2023: 400.0%

The Coal Product Manufacturing in China has exhibited declined growth over the past five years, mainly affected by the accelerated process of global ‘de-coal' and clean energy substitution. In addition, with the realization of central heating in cities of China in winter and the popularity of gas and natural gas in cities, fewer and fewer consumers use coal products as fuel for heating and cooking. The demand for coal products declined in recent years. Industry revenue is expected to decrease at an annualized rate of 5.7% over the five years through 2023, to an estimated $2.8 billion. This trend includes... Learn More

2. Alternative-Fuel Car & Automobile Manufacturing in China

Growth in Imports for 2023: 36.0%

The Alternative-Fuel Car & Automobile Manufacturing industry in China has developed strongly in the past five years due to government favorable policies that have resulted in improving vehicle performances, increasing numbers of charging facilities, and changing attitudes toward environmental protection. Industry revenue is expected to increase at a CAGR of 39.1% over the past five years through 2023, to total $304.8 billion. This includes growth of 16.7% in the current year. Industry profit is relatively high, averaging 9.8% of industry revenue in 2023, lower than 10.6% in 2022, mainly due to intensified market competition.

Industry exports have increased fast over the... Learn More

3. Chinese Medicinal Herb Growing in China

Growth in Imports for 2023: 32.5%

As the production raw materials in the upstream of the industry chain, Chinese Medicinal Herb Growing in China is the basis for the development of the traditional Chinese medicine industry. China began the cultivation and planting of Chinese medicinal materials as early as the Tang Dynasty. The Qing Dynasty began large-scale cultivation of Chinese medicinal materials. However, the large-scale cultivation of many varieties began in the 1950s. At present, it has reached the stage of large-scale, intensive and industrialized cultivation base production. China is one of the largest growing and consumer countries of ginseng and pseudo-ginseng in the world. Rising... Learn More

4. Poultry Farming in China

Growth in Imports for 2023: 28.6%

Revenue for the Poultry Farming industry in China is expected to grow at an annualized 5.2% over the five years through 2023, to $135.2 billion. This steady growth has occurred due to rising poultry prices and output growth. Total poultry meat output is expected to increase by 3.2% in 2023, to 25.2 million tons, while revenue is set to grow by 5.4%. For a typical poultry farm, feed and poultry prices largely determine returns.

Profitability can vary significantly among establishments and across different regions. ACMR-IBISWorld estimates the industry's overall profit margin to be 13.0% in 2023.

Revenue is forecast to rise at... Learn More

5. Oil Wholesale in China

Growth in Imports for 2023: 21.0%

Revenue for the Oil Wholesale industry in China is expected to increase at an annualized 9.5% over the five years through 2023, to $1.1 trillion. Industry revenue is anticipated to rise by 14.7% in the current year due to increasing international oil prices. Imports have satisfied an increasing proportion of domestic demand over the past five years, indicating increasing reliance on foreign oil. Industry imports are estimated to total $45.2 billion in 2023. Profit was estimated 3.2% of total revenue.

The Commerce department will continue to issue qualification certificates for crude oil and refined oil wholesalers in China. According to the... Learn More

6. Computer Tablet Manufacturing in China

Growth in Imports for 2023: 17.9%

Revenue for the Computer Tablet Manufacturing industry in China is expected to rise at an annualized 12.2% over the five years through 2023. In the current year, revenue is expected to grow by 14.7% to reach $124.2 billion, mainly driven by demand for more and more people who work or study at home because of COVID-19 pandemic prevention and control requirements. Despite ongoing revenue growth, profit is expected to shrink to 3.1% of revenue. Exports are estimated to account for 31.8% of industry revenue.

The top four companies in the industry, Apple, Samsung, Lenovo and Huawei, account for an estimated 65.8%... Learn More

7. Fruit and Nut Growing in China

Growth in Imports for 2023: 17.4%

China is the world's largest producer of fruits, with a total output of 309.6 million tons and a planting area of 133.1 billion square meters in 2023. Revenue for the Fruit and Nut Growing industry in China is expected to rise at an annualized 8.8% over the five years through 2023, to reach $40.0 billion. This growth includes an increase of 7.7% in 2023. Rising domestic demand and an increase in the number of fruit varieties have benefited the industry's development.

The industry has been consolidating, with the number of industry farming enterprises expected to decline at an annualized 0.6% over... Learn More

8. Solar Panel Manufacturing in China

Growth in Imports for 2023: 16.8%

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

9. Frozen Food Production in China

Growth in Imports for 2023: 15.4%

The Frozen Food Production industry in China developed rapidly in the past decade. Over the five years through 2023, industry revenue is expected to increase at an annualized 7.2% to $27.1 billion, including an 6.5% increase in the current year. The growth is mainly due to higher disposable incomes, higher product prices and changing consumption trends caused by the faster pace of modern life. A wider variety of frozen foods, product quality improvements, high growth in mid-range and high-end product segments and the development of new markets has also contributed to this growth. Profit margins have reached to 6.8% of... Learn More

10. Sports Equipment Manufacturing in China

Growth in Imports for 2023: 14.4%

The Sporting Equipment Manufacturing industry is expected to generate revenue of $42.3 billion in 2023, up 8.1% from 2022. Over the past five years, revenue has grown at an annualized rate of 4.3%. The industry is heavily influenced by foreign demand, with exports accounting for 39.4% of industry revenue in 2023. Profit is set to rise by 5.7% in 2023.

In 2018, the World Badminton Championships and Asian Badminton Championships were held in China, which increased domestic market demand. In 2020, the COVID-19 pandemic resulted in a global recession and curb exports of China-made sports equipment to overseas markets. The exports... Learn More