According to research and analysis by the China National Chemical Engineering and Physical Power Industry Association, the overall lithium-ion battery export situation in January-May 2024 shows increases in quantity and decreases in price, with overall sales showing a slight increase (except for April and May), but with a large decrease in export value. Data shows that the export quantity of lithium-ion batteries from January to May 2024 was 1.49 billion, an increase of 3.9% year-on-year; and the export value of Chinese lithium-ion batteries was 22.133 billion US dollars from January to May 2024, a decrease of 17.4% year-on-year. Among them, the export quantity of Chinese lithium-ion batteries in May 2024 was 0.32 billion, an increase of 4.5% year-on-year from May 2023; and the export value of Chinese lithium-ion batteries in May 2024 was 4.636 billion US dollars, a decrease of 16.1% year-on-year compared to April 2023.

Due to the increasing global demand for batteries, especially in the international applications of power and energy storage, the export quantity has increased and inventory has decreased significantly. Meanwhile, due to the sustained domestic capacity expansion in 2023 and the sharp decline in prices of major raw materials, particularly lithium carbonate, the export prices of batteries have dropped significantly. According to "Xinluo News" data, as of May 31, 2024, the average price of square power battery monomer (lithium iron phosphate), square power battery (ternary) and square energy storage battery (lithium iron phosphate) were 0.37 yuan/Wh, 0.46 yuan/Wh and 0.35 yuan/Wh respectively, all showing a decrease of more than 10% compared to December 2023. On the other hand, the impact of the US IRA Act and the new battery laws in Europe on China's lithium-ion battery exports has begun to show, with battery exports to the US decreasing by 46.1% from January to May. The impact of the new policies issued by the US and EU on China's lithium-ion battery product exports needs to be continuously monitored.

The United States remains the largest export market for China's lithium-ion batteries. From January to May 2024, the export value to the US was 4.741 billion US dollars, a year-on-year decrease of 11%, accounting for 21.4% of China's total lithium-ion battery exports, an increase of 1.5 percentage points compared to the same period in 2023. Germany is the second largest market with an export value of 4.106 billion US dollars, a year-on-year decrease of 8.5%, accounting for 18.6% of China's lithium-ion battery exports; South Korea is the third largest market with an export value of 1.58 billion US dollars, a significant year-on-year decrease of 55.6%, accounting for 7.1% of China's lithium-ion battery exports.

From January to May 2024, Fujian Province remained the largest source of China's lithium-ion battery exports, with an export value of 6.027 billion US dollars, a year-on-year decrease of 15.2%, accounting for 27.2% of China's lithium-ion battery exports; the export quantity was 107.522 million, a year-on-year increase of 14.4%. Guangdong Province ranked second with an export value of 5.015 billion US dollars, a year-on-year decrease of 20.8%, accounting for 22.7% of China's lithium-ion battery exports; the export quantity was 0.483 billion, a year-on-year increase of 14.2%. Jiangsu Province ranked third with an export value of 3.732 billion US dollars, a year-on-year decrease of 34.6%, accounting for 16.9% of China's lithium-ion battery exports; the export quantity was 0.3 billion, a year-on-year decrease of 21.1%. The lithium-ion battery exports of these three provinces, Fujian, Guangdong, and Jiangsu, accounted for 66.8% of China's total lithium-ion battery exports.

From January to May 2024, the three provinces with the highest increase in export value were Hubei Province, Liaoning Province, and Guangxi Zhuang Autonomous Region, with export values increasing by 164.8%, 41.8%, and 34.2% respectively. The three provinces and cities with the highest increase in export quantity were Hubei Province, Shanghai, and Guangxi Zhuang Autonomous Region, with export quantities increasing by 203.7%, 120.1%, and 16.8%, respectively.