China LED Exports to Russia Grow Exponentially in First Half of 2014

Intensified market competition in the Chinese market caused local manufacturers to turn their attention to emerging oversea markets. Russia has become a dark horse in China’s LED industry, quickly ascending to second largest export market status in less than one year. In 2013, the country could not even be found among China’s top five LED export markets. A report on Chinese LED manufacturers exports to the Russian market is expected to be published by China Solid State Lighting Alliance in October 2014, said a source from the organization.

According to the alliance’s research report, BRIC member Russia became a new export market for China’s LED lighting products.

In 2013, China’s LED luminaire export value to Russia soared 260 percent Year-on-Year (YoY) to reach US $227 million. By first half of 2014, export value grew exponentially by 571 percent compared to 2H13. With this exponential growth, Russia soon leaped to the number two spot in China’s LED lighting industry export market. China’s LED export value accounts for nine percent of the country’s total export value, while LED exports to BRIC countries are as high as 75 percent.

The report showed China’s LED lighting product exports have climbed up over the last two years, and exports to BRIC countries have soared. In 2013, China’s LED lighting product exports totaled to about US $5.5 billion. Out of these, BRIC nations accounted for US $390 million, while in first half of 2014 China’s LED lighting product exports reached US $4.35 billion. Export value to BRIC countries grew nearly 350 percent to US $440 million.

As Russia encourages LED lighting and implements energy efficient policies, there is still large room for exports, said alliance authorities. Russia has become an unexplored “blue sea” market for China’s LED light exporters.

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