Export Briefing of Lighting Industry in the First Quarter of 2023

In the first quarter of 2023, the total import and export value of my country's trade in goods was 9.89 trillion yuan, an increase of 4.8% year-on-year; among them, exports were 5.65 trillion yuan, an increase of 8.4% year-on-year, and the start was stable and positive.

In the first quarter of this year, the total export volume of my country's lighting products was about 13.3 billion US dollars, accounting for about 3% of the export volume of mechanical and electrical products, which was basically the same as the same period last year. The foreign trade of the lighting industry has basically remained stable. In the first quarter, exports achieved a stable start, showing strong resilience. Among them, the export volume in March was about 5.2 billion US dollars, a year-on-year increase of more than 40%.

The overall situation of lighting product exports

1. Lighting products

From January to March this year, the export volume of lighting products such as portable lamps, other electrical lamps and lighting devices, other searchlights and spotlights all declined, with a decline rate between 0.4% and 52%. The export volume of fixed lamps, Christmas lamps and other products has increased, with a year-on-year increase of between 3% and 50%. Among them, the fastest growing is Christmas lamps, with an export volume of about 80 million pieces, a year-on-year increase of nearly 50%.

The export value of lamps and lanterns related products was about 9.9 billion US dollars, accounting for about 74% of the total export value of lighting products, a year-on-year decrease of nearly 2 points. Among them, "other electrical lamps and lighting devices designed to use only light-emitting diode (LED) light sources" grew rapidly, with an export value of about 2.9 billion US dollars, a year-on-year increase of about 30%. The export value of fixed lamps, movable lamps, Christmas lamps and other products all declined, with a year-on-year decline between 1% and 26%.

2. Electric light source products

In the first quarter of 2023, the export volume of my country's electric light source products fell by more than 20% year-on-year. The export volume of electric light source related products is about 4.6 billion. Among them, LED light source products were about 1.4 billion, a year-on-year decrease of about 10%; the export volume of traditional electric light source products such as thermal radiation light source and gas discharge light source accounted for about 22% of the total export of electric light source for general lighting, a year-on-year decrease of 22%. The most obvious increase in export volume is "light-emitting diode (LED) modules" and "light-emitting diode (LED) lamps" and other products, with year-on-year growth of 108% and 20% respectively. The export volume of other major electric light source products has declined, and the largest decline is "compact hot cathode fluorescent lamp", which fell 43% year-on-year.

The export value of electric light source products was US$1.7 billion, accounting for about 13% of the total export value of lighting products, a year-on-year decrease of about 5%. The export value of electric light source products such as incandescent lamp products, HID lamps, discharge lamps, and electric light source related accessories has grown, with a year-on-year increase of 5%-91%.

Average export price

1. Electric light source products

From January to March 2023, the average export price of major electric light source products such as thermal radiation light source, gas discharge light source, and LED light source will rise across the board, with an increase rate between 2% and 188%. The average price of thermal radiation light source products grew the fastest.

2. Lighting products

From January to March 2023, the average price of most lamps and lanterns related products will rebound. Among them, the most obvious growth is "other searchlights and spotlights", with a year-on-year increase of 140%. The average price of products fell for Christmas lamps and fixed lamps, which decreased by about 50% and 10% year-on-year respectively.

Key export markets

In the first quarter, the export value of the European and American markets declined by about 6.6 billion US dollars, a drop of more than 10%. The amount of lighting and related products exported to RCEP and other emerging markets accounted for about 50% of the total export of lighting products, and the export volume increased by 15.4% year-on-year. From the perspective of a single export destination, the top five markets for my country's lighting product exports in the first quarter are: the United States, Germany, the United Kingdom, Malaysia and Japan, accounting for about 37% of my country's lighting exports.

1. US market

The United States is still the largest single market for my country's lighting products exports. From January to March this year, the value of my country's lighting products exported to the US market was 3.1 billion US dollars, a year-on-year decrease of more than 10%. Among them, the export value of electric light source related products was about 400 million US dollars, a year-on-year decrease of 22%; the export value of lighting related products was about 2.3 billion US dollars, a year-on-year decrease of 16%.

2. European market

From January to March 2023, the value of my country's lighting products exported to the European market is about 3.2 billion US dollars, accounting for 24% of my country's lighting exports, a year-on-year decrease of 12%. Among them, the export value of electric light source related products was nearly 400 million US dollars, a year-on-year decrease of 6%; the export value of lighting related products was about 2.4 billion US dollars, a year-on-year decrease of 15%. The top five European countries are Germany, the United Kingdom, the Netherlands, Russia, and France, whose export volume accounts for about 60% of the European market, a year-on-year decrease of more than 10%.

3. RCEP market

From January to March 2023, the RCEP market will show strong vitality. In the first quarter, the amount of my country's lighting products exported to the RCEP market was US$2.9 billion, accounting for 22% of my country's lighting exports, an increase of 16% year-on-year. Among them, the export value of electric light source related products was about 350 million US dollars, which was basically the same as last year; the export value of lamps and lanterns related products was about 2.2 billion US dollars, an increase of nearly 30%. The top five RCEP countries are Malaysia, Japan, Singapore, Vietnam and Australia, with exports accounting for 64% of the RCEP market, a year-on-year increase of 37%.