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Solar panels and cells: top exporters and importers (2024)

In 2024, world trade in solar panels and cells totaled $78.1 billion (16.8 million tonnes). The top exporters were China (46%), Vietnam (9%) and Malaysia (8%); the top importers were the United States (24%), India (6%) and China (6%). Compared with 2019, the value rose 41%.

Summary

World trade
$78.1billion
Tonnes
16.8million tonnes
Price per tonne
$4,632
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

  1. China$35.8 billion · 45.8%
    see destinations
  2. Vietnam$7.4 billion · 9.5%
    see destinations
  3. Malaysia$6 billion · 7.6%
    see destinations
  4. Japan$4.7 billion · 6%
    see destinations
  5. Thailand$4.5 billion · 5.7%
    see destinations
  6. Taiwan$2.7 billion · 3.5%
    see destinations
  7. Germany$2.2 billion · 2.8%
    see destinations
  8. South Korea$1.8 billion · 2.4%
    see destinations
  9. India$1.7 billion · 2.2%
    see destinations
  10. Cambodia$1.6 billion · 2%
    see destinations
  11. Netherlands$1.2 billion · 1.5%
    re-exports
  12. United States$950 million · 1.2%
  13. Singapore$915 million · 1.2%
    re-exports
  14. France$882 million · 1.1%
  15. Indonesia$552 million · 0.71%
  16. Philippines$538 million · 0.69%
  17. Italy$435 million · 0.56%
  18. Laos$410 million · 0.52%
  19. Spain$390 million · 0.5%
  20. Denmark$348 million · 0.45%

Top importers

  1. United States$18.9 billion · 24.2%
    see sources
  2. India$4.7 billion · 6%
    see sources
  3. China$4.4 billion · 5.6%
    see sources
  4. Hong Kong$3.9 billion · 5%
    re-exports · see sources
  5. Germany$3.6 billion · 4.6%
    see sources
  6. Brazil$3 billion · 3.8%
    see sources
  7. South Korea$2.7 billion · 3.4%
    see sources
  8. Netherlands$2.2 billion · 2.9%
    re-exports · see sources
  9. Pakistan$2.2 billion · 2.8%
    see sources
  10. Spain$1.9 billion · 2.5%
    see sources
  11. Japan$1.8 billion · 2.3%
    see sources
  12. Singapore$1.8 billion · 2.3%
    re-exports · see sources
  13. Saudi Arabia$1.7 billion · 2.2%
    see sources
  14. France$1.5 billion · 2%
    see sources
  15. Mexico$1.4 billion · 1.9%
    see sources
  16. Italy$1.4 billion · 1.9%
    see sources
  17. Vietnam$1.4 billion · 1.8%
  18. Poland$1.1 billion · 1.4%
  19. Greece$982 million · 1.3%
  20. Thailand$948 million · 1.2%

Trend

Who sells it

China has been the top exporter since 2007

Value in USD billions. The five largest exporters in 2024.

  • China 35.8
  • Vietnam 7.4
  • Malaysia 6
  • Japan 4.7
  • Thailand 4.5

Source: CEPII BACI

Show the numbers
Country19952024
China0.1235.8
Vietnam< 0.017.4
Malaysia0.326
Japan0.884.7
Thailand0.074.5

Price

Implied price

The price per tonne fell 97% since 1995

Current US dollars per tonne: value over the weight reported by BACI.

  • 2024: $4,632

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995$145,781
1996$5,722
1997$15,192
1998$29,539
1999$7,301
2000$29,213
2001$26,055
2002$66,245
2003$4,221
2004$5,981
2005$66,441
2006$73,499
2007$59,930
2008$49,910
2009$32,759
2010$30,360
2011$23,448
2012$20,145
2013$19,282
2014$394
2015$15,718
2016$13,191
2017$12,961
2018$11,322
2019$8,293
2020$1,720
2021$8,049
2022$9,942
2023$7,356
2024$4,632

What it includes

In HS92 the subheading also includes LEDs and other photosensitive devices.

  • 854140 · subheading of heading 8541: Diodes, transistors and solar cells

Products in the same chapter

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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