Analysis of Import and Export Status of China Forklift Industry in 2024

China forklift import and export volume presents an upward trend

According to the statistics of the General Administration of Customs, the tariff codes of forklift related products are summarized as follows:

2020-2023 China forklift exports showed an upward trend in 2023, imports showed a downward trend, and total imports and exports showed an upward trend. In 2023, total imports and exports reached USD 7.48 billion, up 18.4% year-on-year, and trade surplus reached USD 7.21 billion, up 21.0% year-on-year. In the first four months of 2024, the total import and export volume and trade surplus were US $2.76 billion and US $2.70 billion respectively.

China Forklift Exports Fluctuate Growth

2019-2022 The number of forklift exports fluctuated and increased in 2022, reaching 2,985,700 units in 2022, up 7.8% year-on-year, and decreased to 2,830,400 units in 2023, down 5.2% year-on-year. The number of exports in the first four months of 2024 was 955,000 units.

China forklift export average price continues to rise

2019-2023 The average export price of forklifts in China showed a trend of increasing year by year, from USD 1252/set in 2019 to USD 2596/set in 2023. From January to April 2024, the average export price further rose to USD 2858/set, an increase of 10.08% compared with the average price in 2023.

China forklift imports decline

2019-2023 In 2019, the number of forklift imports in China showed a trend of first growth and then decline, and remained above 13,000 units from 2019 to 2021; the number of imports in 2023 was 10,400 units, down 13.74% from 2022; the cumulative number of forklift imports in China from January to April 2024 was 3,100 units.

Average import price of forklift in China continues to fall

2019-2023 The average import price of forklifts in China fluctuated and declined as a whole in 2008. In 2021, it was the highest USD 15,900/set. In 2022, the average import price of forklift dropped to USD 14,800/set, USD 13,000/set in 2023, and USD 9877/set in the first four months of 2024, which was 24.2% lower than that in 2023.

Source (Research Institute for Prospective Industries)