Recently, China's General Administration of Customs released the import and export data of photovoltaic modules in May 2024, which showed that the export amount of components continued to decline, but the export volume of components still maintained the growth trend, presenting a trend of "volume increase and price reduction".
Specifically, the total export value of PV modules in May reached USD 2.623 billion, a year-on-year drop of 36.8%, and a slight decrease of 1.33% from the previous year. According to the third-party platform components of the latest release of the May average export price of 0.12 U.S. dollars / W (FOB price), the month of photovoltaic module exports continued to rise, reaching about 21.86GW, an increase of more than 10% year-on-year.
By the end of May 2024, total exports of PV modules this year totaled $13.62 billion, or about 97.9 GW.
From the country distribution point of view, the Netherlands, Brazil, Saudi Arabia and other countries continue to lead the PV module export market, in May the export volume of these three countries are more than 1GW.
At the regional level, Europe remains the largest market for China's PV module exports. Despite the challenge of the continued decline in the price of PV modules, China's exports to Europe in May still reached 1.358 billion U.S. dollars, an increase of 0.17% from the previous year, but a larger year-on-year decline of 46.21%.
In terms of export volume, the European market also showed growth, reaching about 11.32 GW, an increase of 8.51% from the previous year. However, compared with the same period in 2023, the total volume and value of China's PV module exports to Europe from January to May this year showed a significant decline, with the total volume dropping by 20.59% and the export value plummeting by 49.53%.
Among other regions, in May this year, the Asian market export value and export volume were both down on a year-on-year basis, while the markets of Latin America, the Middle East, Africa and Oceania showed varying degrees of growth on a year-on-year basis. In particular, the North American market, although the overall export value and export volume base is relatively small, but the chain growth momentum is strong, respectively reached 44.44% and 56.47%.
Source: Solarbe