EXPORTS of home appliances from China have soared 18.1% in the first seven months of this year from a year earlier, mainly thanks to stronger competitiveness.

China’s home appliance exports reached 409.1 billion yuan (US$57.4 billion) in the seven months ended July 31, said Shi Yonghong, vice president of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products.

The global home appliance market was almost unchanged in the first half of this year, according to data from German market research and consulting firm Gfk.

The growth of home appliance exports from China to Europe and the U.S. was insignificant in the first half, Shi noted. However, that to major developing countries, especially Vietnam, India, Mexico, and other spots where Chinese manufacturers have invested, continued to increase because of a significant export of parts and other intermediate products, Shi added.

In Mexico’s home appliance supply chain, many major components are imported from China, assembled locally, and then exported to Europe and the U.S., boosting China’s home appliance and electronic components exports, Shi pointed out. So, exports of home appliances from China will not shrink even if domestic firms build more overseas factories, Shi said.

China’s mechanical and electrical intermediates exports account for nearly 25% of the total worldwide, with their share to rise further, noted Lyu Yue, professor at the Shanghai University of International Business and Economics’ School of International Trade and Economics.

(SD-Agencies)