Under the influence of unfavorable factors such as the ongoing crisis in Ukraine, high global inflation and inventory pressure in Europe and the United States, China's home appliance exports have declined slightly year-on-year. According to the statistics of China Chamber of Commerce for Import and Export of Machinery and Electronic Products, from January to October, the cumulative export value of Chinese home appliances (white goods) was US$95.49 billion, down 2.3% year-on-year. It is expected that the market is expected to recover by the end of the first quarter next year.

Steady progress in the export of emerging markets

At present, Asia is still the largest market for Chinese home appliances exports. Statistics from the Chamber of Commerce of Electrical and Machinery show that from 1-10, China's cumulative exports of home appliances to Asia amounted to $34.73 billion, with growth slowing to 5.2%. "This is mainly due to the slowdown in the growth of China's exports of home appliances to the top three exporters Japan, South Korea and Thailand." China Chamber of Commerce for Import and Export of Machinery and Electronic Products home appliances branch of the relevant responsible person said.

In European countries, the phenomenon of high inflation has not seen a slowdown, the energy crisis continues to ferment and other factors, the local market demand and purchasing power is declining, which also has an impact on China's exports of home appliances to Europe. According to statistics, from January to October, China's cumulative exports of home appliances to Europe amounted to $ 24.41 billion, down 11.3% year-on-year.

In addition, the United States, by the continued rise in inflation overlaid on high inventory and other factors, this year, China's exports of home appliances to North America narrowed the growth rate. Data show that January to October, China's cumulative exports of home appliances to North America amounted to 23.36 billion U.S. dollars, the growth rate fell sharply by nearly 35 percentage points over the same period last year.

Unlike the performance of traditional markets, Chinese home appliances exports to emerging markets is a steady progress. Data show that from January to October, China's exports of home appliances to the Arab League amounted to 6.58 billion U.S. dollars, an increase of 11.2% year-on-year. Meanwhile, thanks to the continued release of dividends from the implementation of RCEP, China's exports of home appliances to ASEAN and Oceania continued to maintain high growth rates, export performance is bright. January to October, China's cumulative exports of home appliances to ASEAN amounted to 10.13 billion U.S. dollars, an increase of 17.1% year-on-year, in a steady growth trend; China's exports of home appliances to Oceania amounted to 2.77 billion U.S. dollars, an increase of 19.0%.

Different products export up and down

In the export of major categories of home appliances, the first 10 months of heater exports grew significantly, a bright performance, data show that January-October, China's exports of heaters to Europe more than 46 million units, an increase of 14.7%; China's home appliance parts exports also achieved a rise in volume, January-October, China Chamber of Commerce for the import and export of machinery and electronic products to monitor the cumulative export value of home appliance parts rose 14.8% year-on-year .

In contrast, this year, the main appliances, kitchen and bathroom appliances export downturn. According to statistics, January to October, China's cumulative exports of air conditioners fell 22.0% year-on-year, the cumulative exports of refrigerators and freezers fell 41.2% and 33.2% respectively.

In this regard, the above-mentioned person in charge that the global major markets, high inflation overlapping inventory backlog and weakening consumer demand is the main reason for the decline in China's large appliance export data, last year's high export base is also one of the reasons. The overall export situation of kitchen and bathroom appliances is relatively low, because the overseas markets of many countries after the release of the epidemic restrictions, people return to offline office, more outdoor activities, the home economy dividend recede, the demand for kitchen and bathroom appliances decline. However, due to the energy crisis led to increased demand for gas to electricity, therefore, in the kitchen and bathroom appliances, induction cooker export volume growth rate is faster.

Talking about the future trend of China's home appliance exports, the person in charge believes that the fourth quarter of this year or the continuation of the first three quarters of the sluggish export performance. Although the high inflation and high inventory pressure facing the world has begun to show signs of relief, but the inventory of major markets still need at least 3 to 4 months to digest, therefore, it is expected that by the end of the first quarter of 2023, the Chinese home appliance export market or expected to achieve recovery.