According to the China Household Electrical Appliances Assn (CHEAA) and the National Statistics Bureau (NBS), prime operating revenue in China’s household appliances industry reached 1.41 trillion yuan ($230.33 billion) in 2014, and total profit 93.16 billion yuan ($15.22 billion), an increase of 10% and 18.4% respectively year-on-year.
Exports in the sector, however, were comparatively weak, reaching a value of $58.13 billion. And while this represents an increase of 5.1% on an annual basis, it also reflected a drop in the growth rate of 4.7 percentage points compared with 2013.
The export value of large appliances totalled $23.1 billion, while small appliances totalled 25.9 billion and component exports $9.1 billion.
The import value for appliances as a whole amounted to $3.56 billion, up 10.7% from a year earlier, with the rate up by 6.3 percentage points from...