Runto Technology’s recent data reveals a significant decline in mainland China’s monitor exports for H1 2023. The data showcases a year-on-year fall of 24.2%, with the total exported units standing at 58.57 million. This decline is further exemplified by the export value, which plummeted by a hefty 32.7% compared to the prior year, settling at 49.83 billion yuan ($6.843 billion).
Asia’s Sustained Demand: Second in Line, But Still Strong
February experienced a notable decline, reaching a nearly two-year low of 7.34 million units in monitor exports. Yet, a recovery trend emerged as the year advanced, fueled by stronger economic collaboration between Eastern Europe and China. The months from March to June exhibited growth,although it didn’t reach the level of performance seen in the same period in 2022.
The North American market, which is the main destination for mainland China’s monitor exports, experienced a significant decline in H1 2023. It comprised 27% of the export volume, with a notable YoY contraction of 38%, amounting to 15.82 million units. Within this market, the United States maintained a dominant position with a 91% share, though it faced a substantial 39.4% year-on-year decline.
The Asian market ranked as the second-largest recipient, accounting for 26.2% of the global market share.
Amidst these difficulties, Western Europe accounted for 22.5% of total monitor exports, experiencing a substantial 37.9% decline from the previous year. Conversely, Eastern Europe stood out with a promising 8.3% share of exports, showing a remarkable increase of 53.1%.
Mainland China’s monitor exports face challenges and strive for recovery. However, the growing collaboration with Eastern Europe offers a potential positive aspect, bringing a glimmer of hope to an otherwise challenging situation.