Amid the broad sluggishness of home appliance industry in 2020, the performance of refrigerators and freezers has been eye-catching, particularly at overseas markets. From January to May 2020, exports of refrigerators and freezers from China rose by 3.2% year-on-year, of which exports to America grew fastest at 28.7% with Oceania following behind at more than 25%.
Of the top 10 refrigerator and freezer importers of America, the US and Mexico surged significantly with the former accounting for 67% of America at a quantity of 4 million units; the Columbia fell most.
As the largest importer of refrigerators and freezers from China, the US saw imported refrigerators and freezers from China for the first five months up by a whopping 41.3% year-on-year by volume. It took almost 20% of China’s total exported refrigerators and freezers, up by 6% from last year’s 14%. The volume for the first five months has exceeded half of the country’s yearly imported refrigerators and freezers from China last year.
The reasons behind it are the low exports of 2019 due to the U.S.-China trade friction, and the surging demand for large-capacity refrigerators to store food amid coronavirus. Plus, China’s fast response to contain coronavirus is also a factor at play when production at other countries suspended amid the coronavirus outbreak.