According to the latest data released by the General Administration of Customs, China exported 240,000 metric tons of wire and cable in June 2024, representing a year-on-year increase of 19.3%. The export value reached RMB 15.95 billion, up 16.4% from the same period last year.

For the first half of 2024 (January-June), China’s cumulative wire and cable exports totaled 1.32 million metric tons, growing 19.2% year-on-year. The cumulative export value stood at RMB 87.7 billion, marking an increase of 12.4%.

Comparing June monthly and first-half cumulative export volumes from 2019 to 2024, the data shows a fluctuating upward trend. Specifically, in the first half of 2024, both monthly and cumulative export volumes saw year-on-year growth compared to the same period in 2023.

On the import side, China imported 10,000 metric tons of wire and cable in June 2024, a decrease of 12.0% year-on-year. The import value was RMB 2.36 billion, down 10.7%. Cumulative imports for January-June 2024 amounted to 70,000 metric tons, falling 8.2% year-on-year, with a value of RMB 14.35 billion, down 7.8%.

Analysis of June monthly and first-half cumulative import volumes from 2019 to 2024 reveals an overall declining trend. Compared with 2023, imports in the first half of 2024 showed year-on-year decreases in both monthly volumes (except January) and cumulative volumes.

Looking at average unit prices in the first half of 2024: The export price was approximately RMB 66,400 per metric ton. The import price was significantly higher at about RMB 205,000 per metric ton.

Overall, the wire and cable industry showed strong export growth in 2024, while imports continued to shrink. This has led to a steadily expanding trade surplus for the sector. The trend indicates that China’s wire and cable industry has progressively enhanced its technological capabilities alongside the nation’s economic development, resulting in reduced reliance on foreign products.

However, the significant price gap between imports and exports suggests that domestic manufacturers primarily compete in the mid-to-low end segments of the global market, and are not yet competitive in the high-end market.