Electrical Equipment / Components & Telecoms

According to customs data, China's exports of home appliances to ASEAN in October amounted to $990 million, up 14.6% year on year, showing strong performance in global regional markets.

According to customs data, China's export of household appliances to the Asian market in October was 3.08 billion US dollars, up 3.7% year on year. Driven by positive factors such as the continuous release of dividends from the Regional Comprehensive Economic Partnership Agreement (RCEP) and economic recovery, China's export of household appliances to ASEAN has been stable and improving. Among them, the growth rate of exports to Singapore reached 114.9%, and the growth rate of exports to the Philippines reached 57.0%.

From January to October, China's export of household appliances to the world reached US $95.49 billion, down 2.3% year on year. From a regional perspective, Asia is still the largest market for China's home appliance exports. According to customs data, exports in the first 10 months of this year increased by 5.2% year on year, continuing to maintain the growth trend, but the growth rate slowed significantly compared with the same period last year; Europe, the second largest market, suffered from the continuous impact of the crisis in Ukraine, and its export scale further narrowed. According to customs data, the first 10 months saw a year-on-year decline of 11.3%, the most sluggish performance among the major markets; The export volume of the North American market decreased by 4.1% year on year, and the export scale gradually approached the European market.

According to customs data, in terms of products, the export volume of household appliances, kitchen and bathroom appliances and small kitchen appliances in the first 10 months of China dropped significantly by more than 10%; The export volume of spare parts was basically the same as last year.

The Chamber of Commerce for Electromechanical Industry said that as the dividend of the "housing economy" faded, the consumer demand for a number of "star products" during the epidemic period, such as dry cleaning machines, vacuum cleaners, floor waxers, fell significantly. However, the export scale of rigid and innovative products such as electric irons and clothes dryers did not fluctuate significantly before and after the epidemic.