From January to October 2021, the bilateral import and export volume of goods between China and Singapore was US$76,022.79 million, an increase of US$4,463.5772 million compared with the same period in 2020, a year-on-year increase of 6.6%.
From January to October 2021, the total value of China's exports to Singapore was US$44,039,523,200, a decrease of US$1,421,252,800 compared with the same period in 2020, a year-on-year decrease of 2.5%; the total value of China's imports from Singapore was US$31,983,265,100, compared with 2020. During the same period, it increased by 5,884,830,100 US dollars, a year-on-year increase of 22.4%.
Affected by the COVID-19 epidemic, the economic and trade exchanges between China and Singapore have grown slowly in the past 2021. As the most prosperous port city in the world, Singapore has its own unique economic development model. Dongqi Cần Cẩu currently has multiple orders for crane projects in Singapore. In 2021, it has won a total of 30 cooperation orders for different loại cần cẩu. For the crane market in Singapore, Dongqi Crane occupies a place with high-quality services and products. As for what will change in the Singapore crane market in 2022, this article will study its possible changes from the import and export data of Singapore cần cẩu.
Before we start discussing the aerial crane market in Singapore, we have a few small questions that need to be answered first. Let’s take a look
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The Singapore Overhead Crane Market declined significantly to USD X in 2020, down -X% compared to the previous year. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs and retailer profits, which will be included in the final consumer price). Consumption continued to show a sharp decline during the period under review. The fastest growth rate in 2012, the market value increased by X% year-on-year. Overhead crane consumption peaked at $X in 2007; however, from 2008 to 2020, consumption failed to regain momentum.
For the third year in a row, Singapore recorded a drop in overseas shipments of fixed-support overhead cranes, falling -X% to X units in 2020. Overall, there was a marked decline in exports. The growth rate was the fastest in 2010, with a year-on-year increase of X%. Exports peaked at X units in 2013; however, from 2014 to 2020, exports failed to regain momentum.
In value terms, 2020 bridge crane exports fell sharply to $X. Overall, exports fell sharply. In 2010, the growth rate was the fastest, with exports increasing by X% year-on-year. Exports peaked at $X in 2013; however, from 2014 to 2020, export figures were slightly lower.
Australia (X units) was the main destination for Singapore's overhead crane exports, accounting for X% of total exports. In addition, exports of overhead cranes to Australia are twice as high as exports to the second largest destination, Myanmar (X units). Indonesia (X units) ranks third in terms of total exports with a share of X%. From 2007 to 2020, the average annual growth rate of freight traffic to Australia reached +X%. Exports to other major destinations recorded the following average annual export growth rates: Myanmar (+X% per annum) and Indonesia (-X% per annum).
By value, the largest markets for overhead cranes exported from Singapore are Myanmar (USD X), Indonesia (USD X), and Australia (USD X), accounting for X% of the total export share. This is followed by Việt nam, Malaysia, India and Qatar, which together account for X major destination countries, with Qatar (+X% per annum) having the highest growth in export value, outpacing the other leaders during the review period. Shipments grew at a more moderate pace.
In 2020, foreign supply of fixed-support overhead cranes increased by X% to X units, increasing for the second consecutive year after two years of decline. During the period under review, imports grew moderately. The most significant growth rate occurred in 2019, with an X% increase compared to the previous year. During the period under review, imports reached an all-time high of X units in 2010; however, from 2011 to 2020, imports have remained low.
Overhead crane imports surged to $X in 2020 by value. Overall, imports decreased slightly. The fastest growth rate in 2019, with a year-on-year increase of X%. During the period under review, imports peaked at $X in 2014; however, from 2015 to 2020, imports failed to regain momentum.
China (X units), South Korea (X units) and Malaysia (X units) were the main suppliers of overhead crane imports to Singapore, together accounting for X% of total imports. From 2007 to 2020, the largest increase was in South Korea, while other leaders showed a mixed trend in purchasing.
By value, China ($X), Malaysia ($X) and South Korea ($X) are the largest suppliers of overhead cranes in Singapore, together accounting for X% of total imports. In terms of major suppliers, South Korea (+X% per annum) experienced the highest growth in import value during the review period, while procurement from other leaders showed a mixed trend.
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