Between 2013 and 2019, China's aerospace industry imports exhibited a mixture of growth and volatility, with significant peaks and troughs. The highest value was observed in 2018, followed by a sharp decline in 2019 and 2020. By 2023, imports slightly recovered to $27.64 billion, reflecting a Y/Y increase of 11.42% and a negative 5-year CAGR of -5.38% from 2018.
Future forecasts (2024-2028) indicate a steady and modest growth with a forecasted 5-year CAGR of 1.24%. The annual import value is expected to incrementally rise, reaching $29.89 billion by 2028, accounting for a forecasted total growth of 6.38% over the next five years.
Future trends to watch for:
- Post-pandemic recovery and stabilization efforts in the aerospace industry.
- Potential impacts of technological advancements and domestic production capabilities on import dependence.
- Policy changes influencing China's trade relationships and aerospace import dynamics.
