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China PCB Import and Export Situation in First Half of 2023

In the first half of 2023, the import and export trade of printed circuit boards in China showed a downward trend, which was in the off-season of the industry. The total trade volume decreased year-on-year, and the trend of trade surplus remained basically unchanged; The import has decreased significantly, and the import of printed circuit boards with four or more layers has decreased even more; The amount exported to major producing countries or regions has mostly shown a downward trend, but the total amount exported to India and Mexico has increased.


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In terms of trade volume, the total import and export trade of printed circuit boards in the first half of 2023 was 84.343 billion yuan (12.259 billion US dollars), a decrease of 16.25% compared to the same period last year; The trend of import and export trade surplus of printed circuit boards remained basically unchanged in the first half of the year, with a surplus of 31.94 billion yuan, an increase of 790 million yuan compared to the first half of 2022; From a quarterly perspective, the surplus in the second quarter (RMB 16.023 billion) slightly increased by 4.8% compared to the first quarter (RMB 15.29 billion); From a monthly perspective, although the import and export trade volume of printed circuit boards increased or decreased to varying degrees from January to June 2023, the overall trend is on the rise.


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From January to June 2023, China's PCB import and export continued to decline, with imports reaching 26.2 billion yuan, a year-on-year decrease of 24.6%, and exports reaching 58.14 billion yuan, a year-on-year decrease of 11.6%. From the perspective of classified product imports and exports, in the first half of 2023, there was a varying degree of decline in the import and export amount of printed circuit boards with four or more layers, as well as those with four or less layers. Especially, the import amount of printed circuit boards with four or more layers decreased significantly, with the import amount of printed circuit boards with four or more layers decreasing by 31.7% respectively.


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From the perspective of the amount of PCB exports from China to major producing countries or regions, from January to June 2023, the total amount of exports to India and Mexico alone increased by 260 million yuan and 160 million yuan. Due to downstream terminals such as Amazon, Hon Hai Group, Google, VIVO, and the addition of SMT factories in India, orders from India have increased. The amount of printed circuit boards exported from China to India with four or more layers, four layers, and below has increased by 27% and 14% year-on-year, respectively. From the proportion of the amount exported to major countries or regions to the total export amount, from January to June 2023, the highest percentage point increase was in the export of printed circuits with four or less layers to India, which increased by 0.96 percentage points, and in the export of printed circuits with four or more layers to Vietnam, which increased by 1.14 percentage points. From a monthly perspective, in June 2023, the export of printed circuits with four or more layers to India increased by 120.52% year-on-year.


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From the perspective of trade surplus, the number of printed circuit board exporting countries or regions in China far exceeds that of importing countries or regions, and the trade surplus is mainly concentrated in the Asian region. In the first half of 2023, China's printed circuit boards were exported to 171 countries or regions worldwide and imported from 62 countries or regions worldwide. From the perspective of import and export balance, in the first half of 2023, China's printed circuit board import and export surplus is mainly in Vietnam, Malaysia, the United States, Mexico, India and other countries and regions, while the import and export deficit is only in Japan, Taiwan, China, China, and South Korea.


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