Overall situation

In October 2022, the country's lighting exports were $5.504 billion, down 7.06% year on year, slightly recovering from a 9.4% drop in September. From January to October in 2022, the total export of lighting products was 52.044 billion US dollars, a slight decline of 1.66% compared with the same period last year, which was generally weaker than the export market.

Main product information

In terms of export value, light source products improved, with a year-on-year increase of 7.65%. The export of lamps and lanterns decreased slightly, down 4.22 percent year on year.

From the point of export, the export of light source products declined significantly, down 22.22% year on year, the export of thermal radiation light source products, fluorescent lamp products decreased about 25% year on year, HID light source decreased 44% year on year, LED bulbs decreased 15.32% year on year, LED tube decreased 5.34% year on year; The export quantity of lamps and lanterns decreased slightly, down by 4.28% year on year; fixed lamps and lanterns (+0.47%), outdoor lamps and lanterns (+1.55%) and other products increased slightly; Christmas lamps and lanterns (+34.09%), search lights and spotlights (+56.42%) increased significantly due to the influence of seasons and festivals. Portable lamps (-16.45%) saw the most significant decline.

From the point of view of export unit price, lighting products export situation as a whole continued to increase the volume of the third quarter. Among them, the unit prices of mercury-added lighting products such as compact hot cathode fluorescent lamps (+34.14%), other hot cathode fluorescent lamps (+18.05%), mercury vapor lamps (+82%) and light emitting diode (LED) bulbs (+17.86%) increased the most significantly. This is related to the obsolescence of mercury-added lighting products in recent years. In March 2022, the Fourth Meeting of the Conference of the Parties to the Minamata Convention on Mercury adopted A proposed amendment to Annex A (mercury-added products) to the Minamata Convention. According to the amendment, the production, import or export of mercury-enriched lighting products under 30 watts, including self-ballast fluorescent lamps and cold-cathode fluorescent lamps for electronic displays, will be banned from 2025. Affected by the amendment, overseas markets have increased the purchase of mercury-added lighting products and LED light sources. In addition, the export price of searchlights and spotlights (+19.41%) increased significantly due to seasonal effects.

Export market conditions

From January to October 2022, the changes in the export market of lighting industry are in line with the general trend of changes in the current national market. In other words, the European and American markets remain weak and demand remains sluggish, and the RCEP market is thriving and growing fast. From January to October, the export value of our lighting products to North American market was 14.767 billion dollars, down 8.12% year on year. The value of exports to the European market was 13.75 billion dollars, down 11.78% year on year; The market value of exports to RCEP countries was $10.319 billion, up 13.28 percent year on year. Exports to other countries and regions reached 13.883 billion dollars, up 7.45 percent year on year.

State of origin

Except for a few provinces such as Guangdong and Fujian, the amount of export products in most of the registered places of export consigners of lighting products declined, and the export of products in the Yangtze River Delta region is still recovering. Guangdong and Zhejiang provinces still accounted for half of the lighting export, and the export value of the two provinces accounted for 59.22% of the national export value.

Fourth quarter forecast

At present, domestic epidemic prevention policies are being further targeted and optimized. The epidemic is showing a trend of phased spread and expansion, and the downturn in the domestic market is difficult to reverse in the short term. Despite the rapid growth of the RCEP market, it is difficult to fully hedge the overall contraction of external demand due to the impact of monetary policies, high inflation and falling demand of developed economies in Europe and the United States. The export of our lighting industry will continue to be under pressure. In the fourth quarter, the export of the industry will be under great downward pressure.