What is the impact of the new round of the new crown epidemic, the Russian-Ukrainian war on LED lighting exports?
On March 7, the General Administration of Customs (GAC) disclosed the volume and value table of key commodities exported nationwide in February 2022 (RMB value). Data show that in February 2022, the national exports of lamps, lighting fixtures and parts thereof amounted to 46.76 billion yuan, down 8.2% year-on-year.
On February 24, 2022, war broke out between Russia and Ukraine. As the war drags on and the West imposes sanctions on Russia, the world is already feeling the strong "resonance": stock markets are plummeting, oil prices are soaring, food prices are climbing, metals and minerals are becoming more expensive, and supply chains are becoming more disrupted......
Global stock markets tumbled. Last week, the S&P 500 index fell nearly 9% on a weekly basis, the largest one-week drop since June 2020. Russian stocks were on the verge of collapse, once plunging more than 50% in a single day and forcing the market to close for several days. To some extent, the "lack of core crisis" has just appeared to ease the momentum, with the outbreak of the war between Russia and Ukraine, the global chip industry will once again occur "huge shock", the lack of core clouds may continue to linger over the semiconductor industry for more years.
In fact, for LED enterprises, in addition to facing the "lack of core" crisis, exports are also facing great uncertainty. On the February domestic lighting exports fell in value, more or less by the overall situation of the hold.
In the parties authoritative research found that, in fact, the Russian-Ukrainian war for LED export enterprises orders do not have a large impact.From the perspective of market size, China's exports to Russia lighting products accounted for about 1.8% of total exports, the scale of exports of lighting products to Ukraine is even smaller, only 0.4%, accounting for a small proportion of the overall plate. So at this stage, the Russian-Ukrainian conflict on China's foreign trade in lighting temporarily no global impact, but only on part of Russia and Ukraine as the main market of export enterprises have a greater impact.
The amount of domestic lighting exports fell in February, mainly by overseas logistics and transportation, as well as the greater impact of the exchange rate of the yuan to the U.S. dollar. The continuation of the epidemic at home and abroad, coupled with the escalation of the Russia-Ukraine conflict, making LED exporters face a sudden drop in market demand, overseas logistics obstruction, trade disruptions and other difficulties.
So, how long will the effects of the Russian-Ukrainian war last?
According to multiple experts, "In terms of the latest situation in Russia and Ukraine recently, it is not quite clear what the extent of the impact on lighting exports will be." In the face of the war between Russia and Ukraine for LED lighting exports brought about by the uncertainty of the impact, LED lighting export enterprises and how will? Several enterprises said they need to continue to increase product innovation, through process optimization to further enhance competitiveness.
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