China's Loudspeaker Export Revenue Declines by 7% to $730M in June 2023

China

China Loudspeaker Exports

In June 2023, China exported 170M units of loudspeakers, which remained stable compared to the previous month. Overall, the export trend for loudspeakers showed minimal fluctuations. The most significant growth occurred in March 2023, with a month-to-month increase of 51%. However, from October 2022 to June 2023, the exports failed to regain momentum, despite reaching record highs of 182M units in September 2022.

In terms of value, the export revenue for loudspeakers from China dropped to $730M in June 2023. While there was a slight decrease in exports during the review period, the most substantial growth in value occurred in March 2023, with a 67% increase compared to the previous month. Similarly, the exports reached a peak of 1.2B units in September 2022 but experienced a decline from October 2022 to June 2023.

Exports by Country

The main destinations for China's loudspeaker exports were Vietnam (50M units), India (27M units), and the United States (10M units), which together accounted for 51% of total exports. Russia had the highest growth rate in terms of volume, with a CAGR of +7.0% from June 2022 to June 2023.

In terms of value, the United States remained the key foreign market, comprising 22% of total loudspeaker exports from China. Vietnam and India were the next significant markets, with shares of 7.2% and 5.5%, respectively. The average monthly rate of growth for exports to the United States was -2.7%, while for Vietnam and India, it was -1.1% and -0.9% per month, respectively.

Exports by Type

Loudspeakers (not in enclosure) were the most exported type, accounting for 81% of total loudspeaker exports from China. The volume of loudspeakers (not in enclosure) was five times higher than that of single loudspeakers (in enclosure). The average monthly growth rate in volume for loudspeakers (not in enclosure) was relatively modest, while single loudspeakers (in enclosure) experienced a growth rate of 0.3% per month.

In terms of value, multiple loudspeakers (in enclosure) were the most traded type, followed by single loudspeakers (in enclosure) and loudspeakers (not in enclosure).

Export Prices by Country

In June 2023, the average loudspeaker price per unit (FOB, China) was $4.3, showing a drop of -8.2% compared to the previous month. The export price experienced a significant decline over the review period, although it reached a peak of $7.0 per unit in October 2022. The United States had the highest average price at $16.0 per unit, while Vietnam had one of the lowest at $1.1 per unit.

From June 2022 to June 2023, the most notable price increase was observed for exports to Russia (+4.6%), while other major destinations experienced more modest growth rates in prices.



Source: IndexBox Market Intelligence Platform

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