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China's inverter export data continue to repair, emerging markets growth is obvious
In June 2024, China's inverter exports totaled $918 million, down 3.9% year-on-year and up 17.7% month-on-month. Among them, positive month-on-month growth was achieved in four consecutive months from March to June 2024, while the year-on-year change narrowed significantly from -27.9% in May 2024 to -3.9% in June.
From the perspective of market structure, the rapid growth of exports to emerging markets has effectively reduced the dependence on European and American markets, thus smoothing the operating fluctuations of enterprises. At the same time, the European market was destocked as scheduled, and the export data improved significantly, the year-on-year decline narrowed, and the quarter continued to increase.
