China's Washing and Drying Machine Exports Surge to $325M in June 2023

China Washing and Drying Machine Exports

Washing and drying machine exports from China rose to 2.6M units in June 2023, picking up by 2.3% on May 2023 figures. The total export volume increased at an average monthly rate of +3.5% over the period from June 2022 to June 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. The growth pace was the most rapid in March 2023 when exports increased by 43% m-o-m. As a result, the exports reached the peak of 2.7M units. From April 2023 to June 2023, the growth of the exports failed to regain momentum.

In value terms, washing and drying machine exports expanded modestly to $325M (IndexBox estimates) in June 2023. The total export value increased at an average monthly rate of +2.5% from June 2022 to June 2023; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain months. The pace of growth was the most pronounced in March 2023 when exports increased by 35% month-to-month. As a result, the exports attained the peak of $347M. From April 2023 to June 2023, the growth of the exports remained at a lower figure.

Exports by Country

Japan (275K units), Russia (175K units) and France (125K units) were the main destinations of washing and drying machine exports from China, together comprising 22% of total exports.

From June 2022 to June 2023, the biggest increases were in Russia (with a CAGR of +9.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($42M), Russia ($26M) and France ($20M) were the largest markets for washing and drying machine exported from China worldwide, with a combined 27% share of total exports.

Russia, with a CAGR of +8.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Exports by Type

Washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) (1.7M units) was the largest type of washing and drying machine exported from China, with a 66% share of total exports. Moreover, washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) exceeded the volume of the second product type, washing machines; household or laundry-type, with built-in centrifugal drier, (not fully-automatic), of a dry linen capacity not exceeding 10kg (473K units), fourfold. Washing machines; household or laundry-type, not fully-automatic, without built-in centrifugal drier, of a dry linen capacity not exceeding 10kg (244K units) ranked third in terms of total exports with a 9.3% share.

From June 2022 to June 2023, the average monthly rate of growth in terms of the volume of export of washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) totaled +3.6%. With regard to the other exported products, the following average monthly rates of growth were recorded: washing machines; household or laundry-type, with built-in centrifugal drier, (not fully-automatic), of a dry linen capacity not exceeding 10kg (+3.8% per month) and washing machines; household or laundry-type, not fully-automatic, without built-in centrifugal drier, of a dry linen capacity not exceeding 10kg (+8.8% per month).

In value terms, washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) ($261M) remains the largest type of washing and drying machine exported from China, comprising 80% of total exports. The second position in the ranking was held by drying machines; of a dry linen capacity not exceeding 10kg ($33M), with a 10% share of total exports. It was followed by washing machines; household or laundry-type, with built-in centrifugal drier, (not fully-automatic), of a dry linen capacity not exceeding 10kg, with a 7.6% share.

From June 2022 to June 2023, the average monthly growth rate of the export volume of washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) stood at +2.5%. With regard to the other exported products, the following average monthly rates of growth were recorded: drying machines; of a dry linen capacity not exceeding 10kg (+1.7% per month) and washing machines; household or laundry-type, with built-in centrifugal drier, (not fully-automatic), of a dry linen capacity not exceeding 10kg (+3.1% per month).

Export Prices by Country

In June 2023, the washing and drying machine price stood at $124 per unit (FOB, China), remaining constant against the previous month. Over the period under review, the export price recorded a mild decrease. The most prominent rate of growth was recorded in July 2022 when the average export price increased by 3.8% m-o-m. As a result, the export price attained the peak level of $145K per thousand units. From August 2022 to June 2023, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In June 2023, the country with the highest price was Germany ($180 per unit), while the average price for exports to Indonesia ($68.9 per unit) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+6.0%), while the prices for the other major destinations experienced a decline.

Source: IndexBox Market Intelligence Platform