August 2023 Sees U.S. Imports of Portable Electric Lamps Soar to $82M
U.S. Portable Electric Lamp Imports
In August 2023, supplies from abroad of portable electric lamps increased by 27% to 21M units, rising for the second consecutive month after two months of decline. Overall, imports, however, saw a slight decline. The most prominent rate of growth was recorded in April 2023 when imports increased by 41% month-to-month. Over the period under review, imports reached the peak figure at 26M units in August 2022; however, from September 2022 to August 2023, imports stood at a somewhat lower figure.
In value terms, portable electric lamp imports soared to $82M (IndexBox estimates) in August 2023. Over the period under review, imports, however, continue to indicate a perceptible contraction. The pace of growth was the most pronounced in April 2023 when imports increased by 39% month-to-month. Imports peaked at 107M units in August 2022; however, from September 2022 to August 2023, imports remained at a lower figure.
Imports by Country
From August 2022 to August 2023, the average monthly rate of growth in terms of volume from China stood at -2.2%.
In value terms, China ($75M) constituted the largest supplier of portable electric lamp to the United States.
From August 2022 to August 2023, the average monthly growth rate of value from China amounted to -2.6%.
Import Prices by Country
In August 2023, the portable electric lamp price amounted to $3.9 per unit (CIF, US), shrinking by -8.1% against the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in September 2022 an increase of 12% m-o-m. As a result, import price reached the peak level of $4,577 per thousand units. From October 2022 to August 2023, the average import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In August 2023, the country with the highest price was Cambodia ($5.5 per unit), while the price for China stood at $3.8 per unit.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by China (-0.4%).
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