According to China Customs statistics, China's exports of low-voltage electrical appliances in the first 10 months of 2020 were US$13.73 billion, a year-on-year increase of 4.0%. Among them, exports in October were US$1.52 billion, a sharp increase of 15.4% year-on-year. The normalization of China's epidemic prevention and control has ensured the normalization of production and export of enterprises, the return of overseas orders, and the online Canton Fair as scheduled, which has promoted a positive year-on-year growth in China's low-voltage electrical exports for 7 consecutive months.
Since April this year, China's low-voltage electrical exports have continued to improve. Due to concerns about the spread of the second wave of the epidemic, overseas customers have stepped up stockpiling and have prepared sufficient inventory for traditional peak seasons such as Christmas and New Year. Exports in September and October achieved double-digit growth. It is estimated that the export growth rate of low-voltage electrical appliances in 2020 will be about 8%.
