In the first half of 2023, the export volume and export value of China’s commercial vehicles reached 332,000 units and 62.8 billion yuan, with a increase of 26% and 83% respectively compared to the same period last year. Commercial vehicles to top 10 destination countries accounts for nearly 60% of China’s total exports, the main destination markets varied compared to last year. Russia firmly ranks the top with export volume increased 6 times year-on-year, 96% of which is contributed by the trucks (especially heavy trucks and tractors); Mexico followed the second, with imports from China up 94% y-o-y; Vietnam fell from the second destination country to the third, with a significant drop of import volume from China, down 47% y-o-y; Chile’s imports from China declined 63%, which leads to it’s rank drop from the top in the same period last year to the fourth place.

In the meanwhile, the imports by Uzbekistan increased more than double of the volume in the corresponding period of last year, with it’s ranking up to the ninth. The export volumes are dominated by the trucks (accounting for over 85%) among the top 10 destination countries except Saudi Arabic, Peru and Ecuador, to which passenger vehicles are mainly exported. 

Source: Interact Analysis