The import and export of China's aero-engine industry in 2020

1. The total volume of imports and exports and the trade deficit increased

Aero-engine refers to the engine that provides the aircraft with the power needed for flight. Aeroengine is the "heart" of aircraft, its performance directly determines the aircraft carrying capacity, flight length and reliability and other key performance, is the core foundation of aviation equipment industry development.

In terms of the industry, only the United States, Britain, France, Russia and China are able to independently develop aircraft engines. Among them, China's aero-engine industry is still in the high - speed rising stage. Data shows that the total import and export volume of China's aero-engine industry increased from 2018-2020 in July, and the overall trade deficit widened. By 2020, China's total import and export volume will reach 5.937 billion US dollars, with a trade deficit of 3.442 billion US dollars.

2. The amount of export has increased

In terms of exports, the export scale of China's aero-engine industry increased from us $3.268 billion in 2018 to US $3.396 billion in 2019, with an increase of 3.9%. From January to July 2020, the export volume reached us $1.248 billion, accounting for 36.7% of the total export volume in 2019.

Specifically, in terms of export products, in addition to aircraft engine parts, the product with the largest export amount is "turbofan jet engine, thrust >25kN", with a total export amount of us $336 million from January to July 2020, accounting for about 87%.

From the perspective of major export markets, France was the largest export market for China's aero-engine industry in July 2019-2020, followed by Hong Kong and the United States. From January to July 2020, China's aero-engine industry exported 2.24 million us dollars to France, 3.06 million us dollars to Hong Kong and 248 million US dollars to the United States.

3. The United States is the largest import market

In terms of import, data show that the import scale of China's aero-engine industry has increased from 6.505 billion US dollars in 2018 to 7.788 billion US dollars in 2019, with an increase of 19.7%. From January to July 2020, the import volume reached 4.689 billion US dollars, accounting for 60.2% of the total import volume in 2019.

In terms of import market, from the perspective of the import amount of aviation engine industry in 2019-2020, the United States, France and The United Kingdom are the major importers of aviation engine products in China. In 2019, China's import amount to these three countries was 43.82, 18.92 and 576 million US dollars respectively, among which, the total import amount to the United States was far ahead. From January to July of 2020, China's total import of aircraft engines from the United States was 2.693 billion US dollars.