First, the content overview
In October, China's LED lighting export prosperity index stood at 51.3, still in the expansion zone, but dropped by 1.2 points from the previous month. This suggests that the overall performance of China's LED lighting exports declined compared to the prior month. The decline is attributed to several factors, including the scale of exports, exchange rate fluctuations, trends in packaged device prices, and their combined impact on the revenue of companies involved in LED lighting exports.
High-tech LED Lighting Export Monthly Prosperity Index
High-tech Research Institute LED Research Institute (GGII)
Remarks: The index ranges from 40 to 60, with 50 as the threshold. A reading above 50 indicates an improving or expanding economic situation, while below 50 suggests a contraction. Specifically, values above 58 are considered "very prosperous," between 58 and 53 are "relatively prosperous," between 53 and 50 are "in a boom," between 50 and 47 are "in a depression," between 47 and 42 are "sluggish," and below 42 are "very bad."
Second, GGII Analysis
The export scale index decreased, leading to weaker overall growth. In October, China’s total LED lighting exports reached $1.379 billion, a 29% drop from the previous month. The export volume was approximately 1 billion units, down 32% compared to the previous month. The scale index fell by 14 percentage points from the prior month.
The exchange rate index fluctuated, positively impacting exports. In October, the US dollar-to-RMB exchange rate increased by 0.9% compared to the previous month, which had a favorable effect on LED lighting exports.
The LED raw material index remained stable, and the price of packaged devices showed a trend of stabilization. In terms of LED packaging, prices remained steady in October. Compared to August and September, the business climate of the LED industry rebounded in October. Although inventory levels of LED chip manufacturers improved, they remained within normal ranges, and chip prices continued to stay stable, resulting in relatively stable LED package prices. Prices for common LED packaged devices such as 5630 (25-35), 2835 (10-24), and 3030 (100-120) remained relatively unchanged compared to September.
The enterprise LED lighting export business revenue index declined, with mainstream enterprises experiencing reduced export volumes. In October, the enterprise LED lighting export business revenue index fell by 7 percentage points from the previous month. Out of the top 50 exporting companies, 33 showed varying degrees of decline compared to the previous month.
List of declines in China's LED lighting mainstream enterprises in October 2017
Note: Statistics only include production companies that directly declare exports.
Source: China Customs, High-tech Research Institute LED Research Institute (GGII)
For more detailed and comprehensive data on China’s LED lighting exports, you can refer to the “China LED Lighting Export Data Products†released by Gaogong.
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