The import value of agricultural, horticultural, or forestry machinery to China has shown significant fluctuations over the past decade. In 2013, the value was substantial but declined each year until a notable drop in 2018. From 2019, imports exhibited slight volatility, with minor increases and decreases, culminating in a gradual but steady forecasted decline from 2024 to 2028. In 2023, the import value stood at 102.59 million USD, representing a slight decrease of -0.58% from the previous year. The negative Compound Annual Growth Rate (CAGR) over the last five years reflects an average annual decline.
Future trends to watch for:
- Potential impact of technological advancements on machinery demand
- Policy changes affecting import tariffs and subsidies
- Changes in domestic production capacity and competitiveness
- Global economic conditions influencing trade flows
