EU-27 Electrical Appliances Imports Back to 30% Increase
Jul. 14 2021
$ 3.7 billion USD for the first 2 months of 2021, compared to $2.9 billion USD for same period of 2020
With the gradual economic recovery, easing of lockdown and restrictions globally after the impact of covid-19, the EU-27 Electrical Appliance imports recorded a positive 30% growth to value of US$ 3.7 billion for the first 2 months of 2021, compared to US$2.9 billion for same period of 2020.
China, continues to be the top exporter with 62.5% of the total world export value to EU-27, with an increase of 36.6% in 2021 to US $2.4 billion. It is mainly due to the Mainland speedy recovery of workforce and factories re-opening. Turkey and Malaysia came the 2nd and 3rd, with value of US $0.46 & US $0.18 billion respectively. Malaysia marked a significant jump of 44%.
Among the top 10 exporters, 5 of them were from countries closer to EU – Turkey, Switzerland, Great Britain, Ukraine and US. All showed growth while Switzerland achieved the best result reaching 24.5% growing to US $0.07 billion. This can be partially explained due to the Large Household product size and thus the shipping cost consideration.
Another 3 electrical appliance supplying countries shone in the first two months – Japan, Serbia and Hong Kong, showing solid growth of 40.7%, 52.6% and 57.9% respectively. The introduction of multifunctional & smart products is a continuing growth trend in the household appliances market in Europe.
The electrical appliances industry is expected to register steady growth in 2021-2022. Rapid urbanization and rising household disposable income attracts trading partners for appliances, large and small. The European smart home appliances market is another key growth engines for worldwide exporters. Other factors, such as the soaring need for sustainability, reparability, energy-efficiency, are driving the market growth too. The smart appliances sector is heavily contributing to R&D of these products, with Germany, Italy and South Korea in the top position of countries investing in innovation.