China's photovoltaic module exports surged to record highs in March

China – Data from Chinese customs and industry sources show that China's photovoltaic module exports soared to a historical high in March, driven by stockpiling in Southeast Asia and Africa ahead of anticipated price increases, as well as heightened demand due to the ongoing aftermath of the Iran war.

According to Chinese customs data, module exports jumped 42.2% month-on-month to reach 1.75 million metric tons in March—equivalent to 13.3% of China’s total annual export volume for 2025. The shipment value reached $36.1 billion, up 67% year-on-year and a staggering 125% compared to February.

Analysts note that countries in Southeast Asia and Africa rushed to import modules before the expected price hike triggered by China’s cancellation of export tax rebates starting April 1; meanwhile, energy supply disruptions caused by the U.S.-Israel military actions against Iran further amplified this surge.

Africa and Southeast Asia were key drivers behind China’s photovoltaic module exports, with imports from these regions nearly tripling compared to last month. However, China is supplying solar products globally: In March, 50 countries recorded new all-time highs in their imports of Chinese solar products, while another 60 countries saw their imports reach the highest levels in six months.

Experts identify two main reasons for this sharp increase. First, the “windfall effect”—since April 1, importers face higher costs due to the removal of export tax rebates, prompting some to accelerate procurement. Second, the crisis around the Strait of Hormuz linked to the Middle East conflict: rising oil and gas prices have prompted around 60 countries to develop plans for energy electrification.

While concerns over fossil fuel supplies alone cannot fully explain this record, analysts believe such anxieties will keep China’s exports at very high levels in the coming months.

Source: rfi

Original: toutiao.com/article/1863489965856771/

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