2023 China LLDPE Exports Dropped by 15.67% Y-O-Y
China’s LLDPE import volume decreased by 15.67% or 29.1kt Y-O-Y to 156.6kt in 2023. Therein, LLDPE exports were concentrated in Q1 and Q2 of 2023 when the export volume took up 58.62% of the total exports. PE export volume was 43.9kt in Q1, 2023, taking up 28.03%, while that was 47.9kt in Q2, 2023, occupying 30.59% of the total. China’s LLDPE export volume reached the yearly highest level of 24.8kt in March, mainly as China’s domestic demand was softer than expected, and the export arbitrage economics turned workable with domestic LLDPE market prices falling. China’s producers and traders were inclined to develop the export business accordingly. Comparatively, the lowest LLDPE export volume emerged in January. China’s LLDPE suppliers reduced exports because domestic end users were active in stockpiling in January given the upcoming Spring Festival holiday, and the overseas market demand was sluggish.
2022-2023 China LLDPE Monthly Export Volume
In 2023, China’s top five LLDPE export partners were Bangladesh, Vietnam, the Philippines, Pakistan and Ghana, which contributed to 60.15% of total exports. The major export trading partners changed from Hong Kong, Taiwan, and Vietnam to Bangladesh, Vietnam, and the Philippines. This was the result of the following two points. First, these regions feature abundant labor resources, low labor costs, concentrated processing and producers, low supply from these regions, and large demand gaps. Second, these regions are known for superior geographical location and low sea freight. Therefore, China’s main LLDPE export trading partners are mainly concentrated in South Asia and Southeast Asia.
2022-2023 China LLDPE Export Volume by Destination
From 2019 to 2023, China’s LLDPE export enterprises were mainly those registered in Guangdong, Shanghai and Shandong, among which Guangdong ranked first. In 2023, Guangdong exported 65.8kt LLDPE products, representing 42.01% of total exports, always standing in the first place; Shanghai and Shandong ranked second and third, contributing to 18.55% and 16.29% of total exports respectively. As LLDPE products are mainly consumed in South China, East China, and North China, where there is an active market trading atmosphere, especially in Guangdong and Shanghai, rapid economic development and relatively concentrated international trade enterprises are seen. Also due to its superior geographical location, port warehousing has obvious advantages.
2022-2023 China LLDPE Export by Enterprise Registration Place
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