China’s white goods output recovers further in Nov

China’s white goods manufacturers were kept busy again in November, mainly thanks to higher export volumes when demand overseas resumed after pandemic disruptions and when makers abroad were unable to keep pace with the rise in orders, Mysteel Global noted.

Last month, output of all four major home appliances – comprising televisions, air-conditioners, refrigerators and washing machines – witnessed positive growth, according to data from China’s National Bureau of Statistics (NBS). In the November total, that of refrigerators increased the most, rising by 22.5% on year to 9 million units, while January-November output also witnessed the sharpest rise among the four, increasing by 6.3% on year to reach 82.6 million units.

“Chinese makers have received a greater number of export orders since the third quarter, and the routine maintenance they usually undertake in the slack season has also been delayed,” a Shanghai-based analyst said. “The long-lasting and resurgent pandemic in some regions across the globe has interrupted production among appliance makers in other countries while the operations in China have been comparatively stable,” he maintained.

The epidemic had boosted people’s demand for stocking up foods, hence the surge in demand for refrigerators, he added.

On the other hand, the signing of the Regional Comprehensive Economic Partnership (RCEP) agreement on November 15 among 15 countries including 13 in Asia and Australia and New Zealand will be beneficial to China’s home appliance trade, Mysteel Global noted.

“The signing of RCEP is expected to create a better regional trading environment for Chinese white goods brands,” the analyst commented.

Meanwhile, the NBS data shows that televisions contributed to the largest production among the four. Output of colour televisions rose by 5.1% on year to 19.6 million units in November, which took the total production over the first eleven months to 179.7 million units, up by 5.8% on year, the data showed.

China’s major home appliances production for November (unit: million units)

Source: NBS

Written by Anna Wu, wub@mysteel.com

This article has been published under an article exchange agreement between Mysteel Global and SteelMint.

Photo: Bloomberg.com