Lighting industry export data for the first 8 months of 2024 released! Check it out →
According to customs data analysis, China's lighting product exports amounted to approximately USD 4.7 billion in August, a Year-on-year (YoY) decline of 5%. From January to August, the total value of China's lighting product exports was approximately USD 36.8 billion, basically flat compared to last year, accounting for about 3% of the total Export value of mechanical and electrical products.
USD 36.8 billion
Overall, the cumulative Export value of China's lighting products in the first 8 months of this year remained at a historically high level, but was generally consistent with the same period last year. The growth rate of Export value further slowed down, representing a 24% Year-on-year (YoY) increase compared to the pre-pandemic year of 2019, narrowing by 1 percentage point compared to the first 7 months.
Accounts for 89%
From January to August, China's LED Electric light source products (LED bulbs, LED tubes, LED modules) continued to see rising export volumes, reaching approximately 7.7 billion units, a year-on-year increase of about 74%; accounting for 89% of China's total electric light source exports for general lighting, up by 9 percentage points from the same period last year, and up by 28 percentage points compared to 2019 before the pandemic. Among China's LED electric light source products, the fastest-growing export product is LED module products. In the first eight months, influenced by factors such as the transfer of overseas export orders and strengthened production in emerging manufacturing countries, China's LED module export volume reached 3.2 billion units, a year-on-year increase of about 534%, setting the best record since customs statistics began for this product.
In addition, due to the accelerated phase-out of high-energy-consuming traditional electric light source products such as fluorescent lamps, overseas markets have increased imports of China's LED bulb products. From January to August, China's export volume of LED bulb products was approximately 4.1 billion units, a year-on-year increase of 17% .
27.8 billion US dollars
In August, China's luminaire exports remained stable. In the first eight months, the cumulative export value of luminaire products reached 27.8 billion US dollars, a year-on-year increase of about 0.5%, accounting for 76% of the total export value of China's lighting industry, up by 1 percentage point from the same period last year and up by 5 percentage points from 2019. Exports of Christmas lighting products improved, with the decline in export value and average export price further narrowing, decreasing by 6 and 6.2 percentage points respectively compared to the first seven months. The export trend of luminaires such as fixed luminaires, portable luminaires, and other electric lamps and lighting devices designed to use only light-emitting diode (LED) light sources continues to grow, with both export value and volume maintaining growth.
Expanded by more than 5 percentage points
In the first eight months, among China's lighting Export products across all 59 tariff codes, approximately 81% of products saw a decline in average Export prices to varying degrees, an expansion of more than 5 percentage points compared to the first seven months.
Minus 0.7% VS Plus 4%
From January to August this year, China's lighting Export value to European and American markets remained basically flat compared to last year, while markets along the "Belt and Road" have provided a new pivot for China's lighting foreign trade. Since the beginning of this year, China's Export value to Europe and America was approximately USD 18.1 billion, a Year-on-year (YoY) decline of about 0.7%, narrowing by 0.2 percentage points compared to the first seven months; accounting for 50% of the total Export value. In the first eight months, China's lighting product Exports to countries along the "Belt and Road" reached approximately USD 16.2 billion, a Year-on-year (YoY) increase of 4%, accounting for 44% of the total Export value of China's lighting products, an increase of 1 percentage point compared to the same period in 2023.
From the perspective of individual Export destinations, the top ten markets for China's lighting product Export value from January to August were:United States, Germany, Malaysia, United Kingdom, Singapore, Vietnam, Netherlands, India, Japan, and Thailand, accounting for approximately 50% of China's lighting Export value, with an Export value of about USD 18.3 billion, a Year-on-year (YoY) increase of 1%. In addition, imports of China's lighting products into Germany and Japan continued to increase,with their cumulative import value growing at Year-on-year (YoY) rates of 5% and 2% respectively, an increase of 3 and 2 percentage points compared to the first seven months.
The United States and the European Union are respectively the top two trading partners for China's lighting product imports, with import values of US$8.2 billion and US$6.8 billion. Among them, imports from the United States decreased by 2.4% Year-on-year (YoY), while imports from the European Union increased by 2.5%.
Export Situation of Major Lighting Products
