Luoyang Construction Machinery exports surge in Africa as the largest export market

On May 22nd, a reporter from the China Construction Machinery Business Network learned from Luoyang Customs that in the first four months of this year, Luoyang City exported 14.84 million U.S. dollars worth of construction machinery, a year-on-year increase, of which Africa became the largest market for Luoyang construction machinery exports.

According to the reporter from China Construction Machinery Business Network, in the first four months of this year, Luoyang construction machinery exported to Africa reached 5.13 million US dollars, an increase of 8.7 times year-on-year, and the proportion of exports to Africa increased from 9% in the same period of last year to 31.4%, ranking Luoyang Engineering. The first in the machinery export market. In addition, Luoyang Construction Machinery also has a very good market in Latin America, North America and Europe, with export value of 4.2 million US dollars, 2.73 million US dollars and 2.14 million US dollars, respectively, an increase of 2.1 times, 13.9 times and 1.5 times. The Luoyang construction machinery export enterprises, including Yimo International Trade Co., Ltd., China Railway 15th Bureau Group Co., Ltd., Mechanical Industry Fourth Design and Research Institute, and Luoyang Lutong Trade Co., Ltd., accounted for the export volume of drilling rigs and roadheaders to Luoyang Construction Machinery. 89.6% of total exports.

A senior analyst from China Construction Machinery Business Network stated that compared with developed countries such as Europe and the United States, China’s construction machinery and equipment have strong price competitiveness, and they have excellent quality and relatively perfect after-sales service, and they are marketable. The upsurge of infrastructure construction in Africa has already come. This will give a great boost to the export of construction machinery and equipment in China. Luoyang can seize the export machine in the construction machinery market in Africa, and it will have a huge boost for future development. The high quality and low cost of construction machinery and equipment, as well as the shrinking investment in Africa by developed countries in Europe and the United States, which are still in the period of financial crisis recovery, have objectively provided an opportunity for China’s construction machinery and equipment to expand its market share in Africa.