Global PV Customs Data Analysis Report
Uncover country-level insights and supply chain dynamics across six key markets.
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| Author | Amy Fang |
| Updated | November 12, 2025 |
InfoLink’s customs data shows that China exported 27 GW of modules in September 2025, down 13% MoM but up 62% YoY from 17 GW. China's total module exports from January to September 2025 reached 206 GW, up 10% YoY from 187 GW.
In September 2025, the top five single-country importers of Chinese modules were, in order, the Netherlands, Brazil, the UAE, Belgium, and France, together accounting for 35% of the global total. By region, Europe was the largest export destination, sustaining growth momentum through September, though shipments still declined by 12% MoM. Asia-Pacific imports continued to drop, down 32% MoM. In the Americas, shipments rose by around 23% on the back of strong demand from Brazil. In the Middle East, pulling momentum weakened with the onset of high temperatures, leading to a decline of around 9%. Meanwhile, Africa maintained steady shipments, recording an increase of roughly 16%.
Europe
According to China’s customs data, around 11 GW of modules were exported to Europe in September 2025, down 12% MoM and up 61% YoY from 6.8 GW. From January to September 2025, China’s total module exports to Europe reached 84 GW, up 8% YoY from 78 GW.
Excluding the Netherlands, Europe's largest shipping hub, Belgium took second place in September 2025, with Chinese module imports of 1.2 GW—a sharp 196% YoY growth from 0.4 GW—making up 11% of Europe’s total imports, trailing only the Netherlands’ 31% share.
For total imports from January to September 2025, Spain ranked second with 7.0 GW, followed closely by France's 6.9 GW. The gap between the two narrowed sharply to 0.1 GW.
The Asia-Pacific
In September 2025, China exported 7 GW of modules to the Asia-Pacific, down 32% MoM and up 69% YoY from 3.9 GW. From January to September 2025, China’s total module exports to the Asia-Pacific reached 64 GW, up 18% YoY from 54 GW.
Although Pakistan’s module imports rebounded gradually in August following tariff reductions, project approval progress remained slow, causing shipment momentum to level off, with around 0.9 GW of modules imported in September, up 227% YoY from 0.29 GW and accounting for 14% of the Asia-Pacific market. Japan ranked as the second-largest export destination in September, importing about 0.87 GW of modules, followed by Australia in third place, with monthly imports reaching approximately 0.69 GW.
From January to September, Pakistan remained the largest importer in the region, with cumulative shipments totaling 17 GW. India’s import volumes have continued to decline since April. Although shipments spiked temporarily in August amid a rush ahead of Approved List of Manufacturers and Models (ALMM) policy adjustment, volumes in September returned to previous levels. India remained the second-largest importer in the Asia-Pacific market, with total imports of around 11 GW for the first nine months of the year.
The Americas
In September 2025, China exported 3.8 GW of modules to the Americas, slightly up 23% MoM and up 40% YoY from 2.7 GW. From January to September 2025, China’s total module exports to the Americas reached 23.3 GW, down 5% YoY from 24.4 GW.
Brazil still accounted for the largest single-country share of Chinese module imports in the Americas in September. The total imports reached 2 GW, representing 55% of the regional total, mainly influenced by market sentiment. Chile and Mexico followed, importing around 0.3 GW and 0.27 GW, respectively. From January to September, Brazil also ranked first in cumulative imports, totaling 11.4 GW.
The Middle East
The Middle East imported 3 GW of modules from China in September, down 9% MoM and up 42% YoY from 2.4 GW. From January to September, cumulative Chinese module shipments to the Middle East totaled 22.7 GW, down 1% YoY from 23 GW.
China’s module exports to the Middle Eastern market showed slight shifts in single-country shares. In September, the UAE recorded an increase in import volume, with monthly inflows reaching 1.7 GW. Monthly imports to Saudi Arabia, meanwhile, declined to around 0.65 GW, as major projects near completion. From January to September, Saudi Arabia remained the largest importer, with cumulative imports reaching 8 GW, while the UAE registered a total import volume of 6.8 GW.
Africa
Africa imported 2 GW of modules from China in September, up 16% MoM and up 149% YoY from 0.8 GW. From January to September, cumulative Chinese module shipments to Africa totaled 12.6 GW, up 62% YoY from 7.8 GW.
China’s module exports to the African market showed slight shifts in single-country shares. Egypt has now subtly surpassed South Africa to become the largest destination country, with import levels reaching 0.4 GW in September, accounting for around 20%. This upward trend began in May and accelerated in July when Egypt rose to the second place.
South Africa saw a slight decline this month, with total module imports reaching roughly 0.396 GW, representing 20% of Africa’s total import volume. Algeria recorded about 0.265 GW, accounting for 13%. From January to September, cumulative figures show that South Africa still leads with 2.68 GW.
Conclusion
Overall, the main shift in Q3 stemmed from changes related to China’s export tax rebate. Market expectations of an upcoming adjustment to the rebate policy in September appear to be the primary driver behind the sharp increase in shipments to Europe during the period. In response to such market signals, as well as the rise in polysilicon prices, manufacturers brought forward part of their Q4 demand into Q3 to mitigate the impact of rising costs. As of early November, based on our observations, the effects of higher prices within the Chinese supply chain have not yet been clearly transmitted downstream to the European distribution market. Although several module producers have raised their price quotes, actual transaction activity suggests that the market remains in a state of negotiation.
As of early November, there have been no clear updates regarding potential adjustments to China’s export tax rebate policy, and market sources suggest that the modification may be postponed. This remains one of the potential variables that could influence subsequent price movements. With part of Q4 demand already pulled forward in earlier months, global procurement in Q4 is expected to be slightly lower than last year. Major importing countries are likely to maintain volumes similar to previous periods, with only marginal growth possible under optimistic scenarios.
In terms of individual markets, Europe’s pull-in demand is expected to show limited growth. In the Asia-Pacific region, countries such as the Philippines and Indonesia may contribute incremental demand, although geopolitical risks are simultaneously rising. Under intensifying global trade uncertainties, policy interpretation and early assessment will become key variables for PV supply-chain planning and price forecasting.
