Changes? Lighting industry export data for the first five months of 2024 released

From January to May 2024, the total value of China's goods trade imports and exports reached 17.5 trillion yuan, a Year-on-year (YoY) increase of 6.3%. Among them, Export amounted to 1.4 trillion US dollars, an increase of 2.7%. The trade surplus was 337.2 billion US dollars, expanding by 1.8%. The trade surplus was 2.4 trillion yuan, expanding by 5.2%. According to JPMorgan Chase data, the global rose to 50.9%, 0.6 percentage points higher than the previous month. In May, global market demand warmed up moderately, manufacturing prosperity further recovered, coupled with the weakening impact of high base effects and the continuous recovery of export orders, in May, the growth rate of China's lighting product exports turned from negative to positive, increasing by 9 percentage points compared to April. According to customs data analysis, in May China's lighting products export value was approximately 50 hundred million US dollars, a Year-on-year (YoY) increase of 2.8%. From January to May, the total export value of China's lighting products was approximately 22.6 billion US dollars, a Year-on-year (YoY) increase of 3%, accounting for about 3% of the total export value of mechanical and electrical products.

Overall situation of lighting exports

对比过去5年同期数据，我国照明产品今年前5月出口总额表现亮眼，与历史最高值基本一致，较疫情前的2019年出口额同比增长32%。今年5月单月出口额目前仅次于1月；出口额增速排在5个月中的第3名；对比过去5年同期数据，仅次于2022年5月单月出口额，与疫情前的2019年相比出口额增长26%。受去年同期低、海外市场持续补库存、以及我国照明出口成本和效率优势等因素影响，预计我国照明出口未来增速或将进一步向好。今年上半年我国照明产品出口额略高于去年同期水平。

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1. Luminaire Products

From January to May, China achieved double growth in both export value and volume of luminaires and related products. Among them, the export value was approximately USD 17 billion, a year-on-year increase of 4.5%, accounting for about 75% of the total export value of China's lighting products, providing significant support for the growth of China's lighting exports. The luminaire product with the fastest growth in export value was "Other electric lamps and lighting fittings, photovoltaic and designed for use solely with light-emitting diode (LED) light sources", with a year-on-year increase of 85%. This was followed by fixed luminaires and , with export values increasing by more than 11%.

In terms of export volume, "Other electric lamps and lighting fittings, photovoltaic and designed for use solely with light-emitting diode (LED) light sources", searchlights and spotlights, and portable luminaires grew the fastest, with increases of 81%, 27%, and 23% respectively.

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2. Electric Light Source Products

前5月，我国电光源产品出口量保持增长态势。其中，普通照明用电光源（包括：“LED灯泡/管”、“LED模块”、“未列名白炽灯泡”、“紧凑型热阴极荧光灯”、“高强度气体放电灯”等电光源产品）出口总量约为49亿只，同比增长49%。其中，LED电光源产品约43亿只，同比增长约67%；热辐射光源、等传统电光源产品出口量有所下降18%，约占普通照明用电光源出口总量11%。另外，“发光二极管（LED）模块”、“发光二极管（LED）灯泡”等产品出口量持续增长，同比增长分别为596%和11%。

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China's general lighting electric light source export value was approximately US$2.2 billion, accounting for about 10% of the total export value of all lighting products, a year-on-year (YoY) decrease of 10%. Except for a few products such as mercury vapor and components of traditional electric light source products, the year-on-year growth rate of LED electric light source and traditional electric light source product exports further declined.

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In addition, in the first five months, China's export volume of other types of electric light source products, such as unlisted incandescent lamps and electric light sources for scientific research and medical use, was approximately 5.3 billion units, a year-on-year (YoY) increase of 27%; the export value was approximately US$430 million, a year-on-year (YoY) increase of 4%.

Key Export Markets

1-5月，欧美市场对我国照明产品进口基本稳定，我国输欧美照明产品出口额约107亿美元，微降3%。前5月，新兴市场出口增速保持稳定，同比增长8%，占出口总额比重保持在53%。其中，我国照明产品对RCEP市场和“一带一路”沿线国家市场的出口额分别增长17%和10%，为我国照明出口增长提供了重要力量。

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From the perspective of individual export destinations, the top ten markets for China's lighting product exports in the first five months were: the United States, Germany, Malaysia, the United Kingdom, Singapore, Vietnam, India, Thailand, Japan, and the Netherlands, accounting for about 50% of China's lighting export value, with an export value of approximately US$11.2 billion, a year-on-year (YoY) increase of 4%. Among them, demand for Chinese lighting products from five markets such as Malaysia and Singapore further increased, maintaining a significant growth trend in export value. Demand for Chinese lighting products from four developed European and American markets such as the US and Germany decreased, with export value growth rates slowing down to varying degrees. Unlike the first four months, the export value to Germany turned from positive to negative; the export value to Japan turned from negative to positive. Additionally, the export value to Singapore had the fastest growth rate, with a year-on-year (YoY) growth rate of about 40%; the export value to the Netherlands had the slowest growth rate, decreasing by 7% year-on-year (YoY)

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1. US Market

As the largest single market for China's lighting product exports, since 2024, the export value of Chinese lighting products to the US market was approximately USD 5 billion, accounting for 22% of China's total lighting exports, a year-on-year (YoY) decrease of 2.8%. Among these, the export value of electric light source related products was approximately USD 600 million, a year-on-year (YoY) decrease of 11%; the export value of luminaire related products was approximately USD 3.7 billion, a year-on-year (YoY) decrease of 2%.

Further Reading:

Analysis of the US Lighting Export Market

2. European Market

In the first five months, the value of China's lighting products exported to the European market was approximately US$5.1 billion, accounting for 23% of China's total lighting exports, a year-on-year (YoY) decrease of 3%. Among these, the export value of electric light source related products was US$500 million, a year-on-year (YoY) decrease of 21%; the export value of luminaire related products was approximately US$4.2 billion, a year-on-year (YoY) increase of 0.2%. The top ten European countries are Germany, the United Kingdom, the Netherlands, Russia, France, Poland, Spain, Italy, Belgium and Greece, with an export value accounting for about 85% of the European market, a year-on-year (YoY) increase of 18%. Among the top ten countries, the export value of China's lighting products increased only in the markets of Germany, Russia, Spain, and Italy, while it decreased in the remaining countries.

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3. Markets along the "Belt and Road"

From January to May, China's exports of lighting products to countries along the "Belt and Road" amounted to approximately US$10.4 billion, a year-on-year (YoY) increase of 10%, accounting for 87% of the total exports to emerging markets and 46% of China's total lighting product exports. Among these, the export value of electric light source related products was approximately US$1.2 billion, a year-on-year (YoY) decrease of 5%; the export value of luminaire related products was approximately US$7.8 billion, a year-on-year (YoY) increase of 14%. The top ten markets among countries along the "Belt and Road" are Malaysia, Singapore, Vietnam, Thailand, Saudi Arabia, the United Arab Emirates, South Korea, Russia, Poland, and the Philippines, accounting for 53% of the markets along the "Belt and Road", a year-on-year (YoY) increase of 9%.

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For information on China's lighting product exports to other countries, please click the link below to read:

Breaking! US imposes additional tariffs on China! Mexico imposes temporary import tariffs on lighting products

Main Product Export Situation

Judging from China's lighting exports in the first five months , although the decline in the average export price of some Chinese lighting products has narrowed, the trend of increased volume but decreased price for Chinese lighting product exports remains unchanged, further squeezing the profit margin for China's lighting product exports. With the accelerated passive relocation of China's lighting industry chain , the export competitiveness of Chinese lighting products will be further affected, which is detrimental to the healthy development of China's lighting industry in the long run and requires attention from the entire industry.