Foreign Trade Situation from January to April 2023

Lamp buying Agent, lighting sourcing agent, light export agent in China lighting wholesale market

According to public data from the China Lighting Electrical Appliances Association, due to downward pressure, the export volume of the lighting industry in May was about 5 billion US dollars, a year-on-year decrease of over 5%, and a month on month decrease of 6.3% in April, ending the growth trend since March.

What is the specific situation of foreign trade in the first five months of 2023, as the first year after the epidemic was lifted? How long can the recovery of the foreign trade market persist? This issue, focus on!

January February

10% year-on-year decrease, overall export slowing down

According to statistics, the total export value of lighting products in China in the first two months of 2023 was approximately 8.1 billion US dollars, a year-on-year decrease of over 10%. In the first two months of 2023, the overall export of China's lighting industry slowed down, with over half of the lighting product export categories showing a trend of volume reduction and price increase.

In the first two months, the export volume of electric light source products in China decreased by nearly 50% year-on-year, with an export value of 1 billion US dollars, accounting for about 13% of the total export volume, a year-on-year decrease of about 22%; The export volume of lighting products continues to decline, with the export volume of lighting related products reaching approximately 6.1 billion US dollars, accounting for approximately 74% of the total export volume, a year-on-year decrease of approximately 17%.

There are two main reasons for the decline in exports in the first two months of 2023: at the beginning of 2023, the demand in overseas markets was sluggish, and the squeezing effect of high inventory on this year's orders in 2022 is still ongoing; At the end of last year, the epidemic spread widely and the Spring Festival holiday was earlier than in previous years. Some companies had longer holidays than before, resulting in production capacity not keeping up.

March

A year-on-year increase of 39.7%, supporting the first quarter data

The total monthly export volume in March was 5.19 billion US dollars, a year-on-year increase of 39.7%. In the first quarter of 2023, the total export value of lighting products in China was 13.32 billion US dollars. Among them, the export value of LED lighting products is 9.75 billion US dollars. The monthly export data in March reached a new high since April 2021, which largely supported the overall data for the first quarter of 2023.

Since the opening of the epidemic, China's foreign trade policy has continued to exert efforts, actively supporting the manufacturing industry to stabilize production and foreign trade. A large number of lighting enterprises have also started to make efforts, actively seizing orders and expanding the market by participating in domestic and international exhibitions. At the same time, the strong demand from RCEP countries and related emerging markets has also made up for the sluggish situation in the European and American markets.

Overall, in the first quarter of 2023, the overall foreign trade of lighting remained stable, and the positive trend of foreign trade is expected to continue further. At the same time, the good start of the first quarter of 2023 has also revitalized the confidence of the lighting industry and assisted in the high-quality development of the lighting industry in 2023.

April

Up nearly 10% year-on-year, slowing down the recovery of foreign trade

The monthly export volume in April was about 5.3 billion US dollars, a year-on-year increase of nearly 10%. Compared to March's export volume, April only increased by 110 million yuan, a decrease of 2.1% compared to March. At that time, the recovery of the foreign trade market slowed down.

In the first four months of this year, the total export value of lighting products in China was approximately 18.6 billion US dollars, a year-on-year increase of 2.5%. Among them, the export value of electric light source products is 2.4 billion US dollars, accounting for about 13% of the total export value of all lighting products, a year-on-year decrease of about 4%; The export value of lighting related products is approximately 13.9 billion US dollars, accounting for 74% of the total export value of all lighting products, an increase of 1 percentage point year-on-year.

The recovery trend of the foreign trade market in the first quarter of 2023 is obvious, which has set a good start for this year's foreign trade export data. As of April, the overall foreign trade of the lighting industry continued to recover, providing strong support for the export recovery of the lighting industry this year.

May

Over 5% year-on-year decrease, ending the growth trend

Affected by downward pressure, the industry's export volume in May was about 5 billion US dollars, a year-on-year decrease of over 5%, and a month on month decrease of 6.3% in April, ending the growth trend since March. However, based on the overall situation in May of the previous year, China's lighting industry exports remained basically unchanged compared to the same period last year.

In the first five months of this year, the total export value of lighting products in China was about 23.6 billion US dollars, a slight increase of 0.6% year-on-year. Among them, the export value of electric light source products is 3 billion US dollars, accounting for about 13% of the total export value of all lighting products, a year-on-year decrease of about 10%; The export value of lighting related products is about 17.6 billion US dollars, accounting for about 75% of the total export value of all lighting products, an increase of 0.3 percentage points year-on-year.

It is worth mentioning that China's lighting products have performed outstandingly in the RCEP regional market. From January to May, China's lighting products exported to the RCEP market amounted to 5 billion US dollars, accounting for 21% of China's lighting exports, a year-on-year increase of 9.5%. The amount of lighting products exported to the European market in China has been showing a decline compared to the same period of data.

Comprehensive Compilation | Data Source: China Lighting Electrical Appliances Association