Machinery: Global Trade back above 2019 Level in First Half of 2021
In euros +4.4% over H1-2019 (+16.6% over 2020)
Published by Marcello Antonioni. .Industrial equipment Conjuncture Global demand Global economic trends
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The second quarter of the year showed a strong acceleration of world trade in Machinery and Equipment for Industry1: in the period April-June 2021 it is estimated2 a y-o-y increase of 22.2% compared to 2020 and 3.6% compared to 2019 in euros.
The balance of the first 6 months of the year sees a consolidation of the recovery phase of world trade in the sector (which in 2020 had suffered a decline close to 8 percentage points in euro values), with higher levels than pre-crisis: compared to the corresponding period of 2019, world trade in Machinery and Equipment for Industry shows an increase of more than 4 percentage points in euros.
Up above 2019 levels tooling machines, paper-making machines, packaging machines, food machines and extrusion machines
Numerous sectors in the Machinery industry appear to have recovered and exceeded 2019 levels in terms of world trade value: Metalworking machine tools (+19%), Paper-making machinery (+7%), Packaging machines (+5%), Food machinery (+4%), Extrusion machinery (+2%) and Machine tools for hard materials (+1%).
Furthermore, the significant recovery from 2020 of world trade in Textile Machinery (+18.2% in euro values) should be highlighted, which is just 1.7 percentage points from 2019 values.
World Trade of Machinery: Year-over-Year changes (€)
|Sector||Y-o-Y change||Y-o-Y change|
|Metal processing machinery||+11.8%||-14.2%|
|Machine tools for hard materials||+24.8%||+0.8%|
|Metalworking machine tools||+24.8%||+19.0%|
|Other special purpose machinery||+11.8%||-16.2%|
On the other hand, despite positive signs respect to 2020, global trade in Printing machines (-16.2%), Metal processing machinery (-14.2%), and Other special purpose machinery (-16.2%) are still far from 2019 values.
1) See the list of sectors considered in the following description sheet.
2) ExportPlanning processing available in the Quarterly World Trade datamart.