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Chinese photovoltaic panel exports fell by 3 percent in June compared to the previous month, mainly due to decreasing demand from the Asia-Pacific region, according to a recent report by industry analysts.
In June, China shipped approximately 21.7 gigawatts of solar panels, a decline of 3 percent from May and 2 percent compared to the same period last year. Exports to the Asia-Pacific region dropped significantly by 19 percent month-over-month, while European exports decreased by 2 percent. Meanwhile, shipments to the Middle East increased by 12 percent, and exports to the Americas and Africa grew approximately 5 percent.
The five leading markets for Chinese solar panels in June were the Netherlands, Saudi Arabia, Pakistan, the United Arab Emirates, and Greece, collectively making up roughly 34 percent of total exports.
For the first half of the year, China exported around 127.3 gigawatts of solar panels, representing a 3 percent decrease from the previous year. Europe accounted for about 40 percent of these exports during this period.
Industry analysts noted that traditional export markets are becoming saturated, prompting solar panel manufacturers to explore emerging markets. It’s evident that smaller Southeast Asian and African nations are investing more in solar projects, with Africa experiencing particularly strong growth in the first half of the year.
Looking ahead to the third quarter, several factors could influence Chinese PV panel exports. These include adjustments to export tax rebate policies, a slight increase in module prices driven by policy changes within China, and the depletion of older inventory in certain international markets. Such factors may encourage early procurement and restocking by buyers.
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