CHANGING TRADE ROUTES Solar panel exports from Vietnam, Malaysia, Thailand and Cambodia to the U.S. fell by 33% on an annual basis in the nine months since the first round of tariffs in June. In the same period, exports from regional neighbours Indonesia and Laos grew around eight-fold, the trade data showed.
By contrast, the EU export value of wind turbines (€2.8 billion) was much higher than the corresponding value for imports. The EU import value of solar panels decreased by 43% between 2023 and 2024 (see Figure 2), due to a drop in prices, even though the quantity imported slightly increased by +2%.
Europe relies on solar photovoltaic (PV) as one of the main energy sources in its climate roadmap. Europe has been a pioneer and leader in PV production, and the installation targets are continually increasing via Renewable Energy Directive revisions.
In 2021, the United Kingdom accounted for the largest share of solar panels exported from the European Union, with roughly 23 percent of extra-EU exports. The United States was the EU''s second largest trade partner for solar panels, with an export share of 15 percent. Get notified via email when this statistic is updated. * For commercial use only
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