[Text|High-tech Research Institute LED Research Institute (GGII)] GGII released the "2015 China LED Lighting Export Monthly Monitoring Report (Second Edition)" data shows that in the first quarter of 2015, China's LED lighting exports reached 2.14 billion US dollars. The year-on-year growth was 18.0%, and the growth rate slowed down significantly.
GGII believes that the main reasons for the significant slowdown in China's LED lighting export growth in the first quarter of 2015 are:
1) The sharp depreciation of some countries' currencies against the RMB has led to an increase in customer procurement costs and a decline in purchasing willingness. At the same time, it will also erode the profits of exporting companies, resulting in a decline in willingness to ship. Such a situation is represented by Germany. At the end of the first quarter of 2015, the exchange rate of RMB against the euro has risen from 0.1328 at the end of 2014 to 0.1490.
2) Due to factors such as the international political environment, exchange rate fluctuations in some countries are serious. Fluctuations in exchange rates will cause export companies to bear large exchange rate risks, which in turn will negatively affect their willingness to ship. Such a situation is represented by Russia. From the end of 2014 to the end of the first quarter of 2015, the highest exchange rate of the US dollar against the Russian ruble reached 70.04, the lowest was only 56.56, and the fluctuation in the short term exceeded 20%.
3) The market demand in some countries is relatively saturated, and such cases are dominated by the Japanese market. According to customs data, the scale of China's LED lighting export market in Japan has been declining since June 2014, and it has entered the year of 2015, and its decline has expanded.
4) The influence of the previous base.
Specifically, comparing the top ten exporting countries and regions in the first quarter of 2014-2015, the export share of Japan, Germany, Russia and other countries in the first quarter of 2015 showed a significant decline, and their scale decreased by 24%, 25% and 66% respectively. Russia has therefore fallen to the top ten in terms of exports.
However, GGII believes that due to the lack of a complete LED industry chain in Russia, most of the LED products rely on imports, and there is still a broad market expectation space in the future. The performance of the Southeast Asian market is still outstanding, and the market potential is huge. Among them, the demand for LED lighting in Vietnam and Singapore has grown rapidly. In the first quarter of 2015, the scale of the two companies increased by 1405% and 183% respectively. Vietnam has also successfully ranked among the top ten exporters.
GGII believes that the main reasons for the significant slowdown in China's LED lighting export growth in the first quarter of 2015 are:
1) The sharp depreciation of some countries' currencies against the RMB has led to an increase in customer procurement costs and a decline in purchasing willingness. At the same time, it will also erode the profits of exporting companies, resulting in a decline in willingness to ship. Such a situation is represented by Germany. At the end of the first quarter of 2015, the exchange rate of RMB against the euro has risen from 0.1328 at the end of 2014 to 0.1490.
2) Due to factors such as the international political environment, exchange rate fluctuations in some countries are serious. Fluctuations in exchange rates will cause export companies to bear large exchange rate risks, which in turn will negatively affect their willingness to ship. Such a situation is represented by Russia. From the end of 2014 to the end of the first quarter of 2015, the highest exchange rate of the US dollar against the Russian ruble reached 70.04, the lowest was only 56.56, and the fluctuation in the short term exceeded 20%.
3) The market demand in some countries is relatively saturated, and such cases are dominated by the Japanese market. According to customs data, the scale of China's LED lighting export market in Japan has been declining since June 2014, and it has entered the year of 2015, and its decline has expanded.
4) The influence of the previous base.
Specifically, comparing the top ten exporting countries and regions in the first quarter of 2014-2015, the export share of Japan, Germany, Russia and other countries in the first quarter of 2015 showed a significant decline, and their scale decreased by 24%, 25% and 66% respectively. Russia has therefore fallen to the top ten in terms of exports.
However, GGII believes that due to the lack of a complete LED industry chain in Russia, most of the LED products rely on imports, and there is still a broad market expectation space in the future. The performance of the Southeast Asian market is still outstanding, and the market potential is huge. Among them, the demand for LED lighting in Vietnam and Singapore has grown rapidly. In the first quarter of 2015, the scale of the two companies increased by 1405% and 183% respectively. Vietnam has also successfully ranked among the top ten exporters.
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