India becomes China’s biggest PV panel exporting country

Industry Insights

India becomes China’s biggest PV panel exporting country

Data records posted by China custom indicate that China PV panel exporting of Jan. and Feb. 2017 achieved revenue of $1.61bil, YoY down rate of 28.9%. Capacity 4.24GW, down 6.4% YoY. Asia, the biggest exporting continent, accounted for 78.2% of overall value. India became the biggest exporting country for the two months, revenue $720mil, YoY growth rate 36%, accounting for 44.6% of overall. Capacity was 1.89GW, YoY growth 60.5%. 

Among China’s top five panel exporting countries, most showed strong YoY growth. Except Japan, with revenue of $400mil, a 17% YoY decline, accounting for 24.8% of overall value, and 1.05GW in capacity, 1.4% YoY down. This, explained experts, is mainly attributed to Japan’s subsidy reduction poly and project piling effect of previous quarters. Emerging nations, such as Australia, Brazil, Pakistan, and so on, are growing rapidly albeit from lower basis. They are getting more and more attention from Chinese panel makers who are increasingly haunted by trade wars between China, EU, and the U.S.

In the meantime, China exported $66mil of PV panels to Australia, YoY growth 53%, accounting for 4.1%. 174.6MW in capacity, YoY growth 81.7%. Brazil was $61mil, 468% YoY growth, accounting for 3.8%. 159.7MW in capacity, YoY growth 572.8%. Pakistan, $51mil, 8% YoY growth, accounting for 3.1%. 133.6MW in capacity, YoY growth 27.5%.

Notably, the conventional PV exporting country U.S. posted a decline of whopping 96% YoY rate, only 1% of overall value. This is largely attributed to the impact of AD/CVD tariffs upon Chinese PV products (near 30%) lately reviewed by U.S. officials.

Author:Xiaodong(Bond) Wang Former Director Int'l Business Development

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