China is now the world's largest producer and exporter of power tools, power tool industry in 2013 revenue of about 600 billion, of which over 60% is exported. In 2007 China's power tools industry boom higher, machine exports amounted to 192 million units, while the global financial crisis in 2008, the lowest exports fell to 1.6 million units; but in 2013 the whole export volume reached 201 million units (up 5.24%), exports amounted to $ 6.207 billion (an increase of 9.24%), a record high.
Especially in the fourth quarter 2013, electrical tools to enhance export growth is more obvious: 13 4Q electric machine tool exports growth rate reached 18.52 percent, electric tool parts exports growth rate of 103.94 percent, improved quarter by quarter trend more obvious. We expect that, with the end of the further recovery of overseas economies, as well as unilateral RMB appreciation trend, the 14 years of industry export growth will be better than 13 years. In our situation with the trade exchange, also verified the above conclusions.
The main export markets of electric tools in North America and Europe, including the United States and Germany for the first, the second largest market, accounting for 30.84% of exports, respectively, 6.68%. 13 years of European export growth rate reached 9.47 percent, the highest growth in the past five years, the European market for 14 years will accelerate growth. 13-year US GDP growth of about 1.9%, while China's power tools industry, its exports grew by more than 7% in February, 14 years ago the United States GDP growth of about 3% is expected 14 year US demand for electric tools will growth of 10%. Industry experts estimate that by 2014 China's electric tool industry export growth will reach 10% or more than 13 times the annual growth rate increased by 1, exports accounted for a large company ushered in a good development opportunities.