SMM analysis of China's PV glass exports in October

n October 2023, China's PV glass exports hit 293,000 mt, down 3.29% MoM, but up 46.57% YoY. From January to October 2023, total PV glass exports reached 2.96 million mt, up 61.79% YoY. In October, the largest recipient of China's PV glass exports was Vietnam with 81,300 mt, up 37.56% MoM.

In October, Vietnam remained China's largest export trading partner, with exports reaching 81,300 mt, surging 37.56% MoM. The top five export destinations were Vietnam, Thailand, India, Malaysia, and the United States, with the U.S. rising to fifth place. South Korea slipped to eighth due to a slight decrease in trade volume, while Mexico, Cambodia, Indonesia, and Australia ranked sixth, seventh, ninth, and tenth, respectively. These top five countries accounted for 72.56% of total exports, up 9% MoM.

Compared to September, Vietnam's trade volume surged 37.56% to 81,300 mt, making up 27.75% of total exports. Thailand's trade volume rose to 46,800 mt, 15.98% of total exports, up 4,200 mt MoM. India's trade volume reduced to 38,300 mt, 13.06% of total exports, down 6,300 mt from August, marking a second consecutive month of declining demand. Malaysia's trade volume remained nearly unchanged at 24,500 mt, 8.38% of total exports. The U.S. imported 21,600 mt, up 2.37% MoM, accounting for 7.39% of total exports. South Korea's export volume dropped to 7,400 mt, down 14,100 mt MoM, representing 2.51% of total exports and falling to eighth place.