The instrumentation and meter industry has entered a phase of moderate growth.

"The production and sales of the instrument and meter industry in our country have fluctuated upward from the low point at the beginning of the year, and are currently stable in the medium-speed growth range (15%~20%). It is expected that the year-on-year growth rate of production and sales for the whole year could reach about 18%." On August 23, Xi Jiacheng, honorary chairman of the China Instrument and Meter Industry Association, told reporters from China Industry.

Release time:

2021-02-04

Source:

The instrumentation and meter industry has entered a phase of moderate growth.

The production and sales of China's instrument and meter industry have fluctuated upward from the low point at the beginning of the year, and are currently stable in the medium-speed growth range (15%~20%). It is expected that the year-on-year growth rate of production and sales for the whole year could reach about 18%. On August 23, Xi Jiacheng, honorary chairman of the China Instrument and Meter Industry Association, told the China Industry News.

He stated that if there are no sudden major fluctuations in the macro economy, the main economic indicators of the instrument and meter industry this year can reach the expected targets set at the beginning of the year. The year-on-year profit growth is expected to be slightly below 13%, while the year-on-year growth of imports will maintain a low single-digit growth of around 5%. The year-on-year growth of exports can still reach about 18%. It is expected that the trade deficit will slightly decrease, around 15 billion USD.

Stable production and sales, profit turning from negative to positive

At the beginning of the year, affected by the macro economy, the year-on-year production and sales of the instrument and meter industry decreased by 12.8% and 14.1% respectively. However, there was a significant rebound in March, a month-on-month decline in April, and steady growth in May and June, with the year-on-year growth rate remaining stable at around 17% for three consecutive months, entering the medium-speed growth range of 15% to 20% expected at the beginning of the year.

He analyzed to reporters that the low growth rate of production and sales in the entire industry is mainly affected by the weak demand in the industrial automatic control device sector, which accounts for more than one-third of the entire industry. Its growth rate in the first half of the year is 3 to 4 percentage points lower than the industry average, while scientific instruments such as analytical instruments and testing equipment still maintain a growth rate of over 20%.

It is reported that due to the characteristics of the industry, the instrument and meter industry has historically ranked seventh or eighth in terms of year-on-year growth among the 12 sub-sectors of the machinery industry. In the first half of this year, it temporarily ranked among the top three, with a year-on-year growth rate only second to the agricultural machinery industry, which is supported by policy incentives.

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