According to the news website, China's PV module exports increased by 77.63% to 16.78 GW in the first quarter due to the huge demand in emerging markets, and exports increased by 31.89% to US$4.39 billion.
The report, citing newly released Import and Export Analysis Report of China's Photovoltaic Products in Q1 2019 by the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, said the cut in prices of China's photovoltaic modules boosted purchase of overseas buyers.
The top five export destinations of China's photovoltaic products in the first quarter were Vietnam, the Netherlands, India, Japan, and Australia, the report said.
Vietnam surpassed India to become the largest buyer of China's photovoltaic products. Export value to Vietnam rose 239 times to $739 million in the first quarter, taking up 16.8 percent of China's total photovoltaic export value.
With the European Union ending its anti-dumping and anti-subsidy measures, photovoltaic exports from China to Europe also saw large increase in Q1.
The country's photovoltaic products export volume to the Netherlands and Spain increased 1,049.6 percent and 158.3 percent, respectively, in the first quarter, said the report. It predicted that the emerging markets, such as Mexico, Australia, Turkey, and the United Arab Emirates will further boost the export of China's photovoltaic modules.
The export of China's photovoltaic products to the United States dropped 28.9 percent to just 0.01 GW in the first quarter, the report said. The Section 201, Section 301 tariffs by the US on solar imports, as well as the country's anti-dumping and anti-subsidy measures, have largely reduced China's export to the country.
Photovoltaic modules export to India also slumped 24.4 percent to 1.81 GW in the first quarter, as the Indian government ordered that all photovoltaic modules for government and central public utilities projects should be 100 percent India-made.
China's top five photovoltaic modules exporters in value in the first quarter were Jinko Solar, JA Solar, Trina Solar, Canadian Solar, and Longi, taking up 12.8, 8.6, 8.3, 7.4, and 6.7 percent, respectively, of total export value. Export volume of the top 12 exporters took up 65 percent of total export, added the report.
The report predicts that China's PV module capacity will further expand by 8.5% to 83 GW this year, of which nearly 50 GW will be exported to overseas markets.