October 2023 Sets Record Low for U.S. Imported Bare Printed Circuit Boards at $189M
U.S. Bare Printed Circuit Board Imports
Bare printed circuit board imports into the United States soared to 151M units in October 2023, growing by 49% compared with September 2023. Over the period under review, imports, however, showed a mild reduction. Imports peaked at 185M units in November 2022; however, from December 2022 to October 2023, imports failed to regain momentum.
In value terms, bare printed circuit board imports dropped to $189M (IndexBox estimates) in October 2023. Overall, imports, however, continue to indicate a perceptible setback. The most prominent rate of growth was recorded in March 2023 when imports increased by 8% m-o-m. Over the period under review, imports hit record highs at 260M units in October 2022; however, from November 2022 to October 2023, imports remained at a lower figure.
Imports by Country
In October 2023, China (104M units) constituted the largest bare printed circuit board supplier to the United States, accounting for a 69% share of total imports. Moreover, bare printed circuit board imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (19M units), sixfold. The third position in this ranking was taken by Thailand (7.5M units), with a 5% share.
From October 2022 to October 2023, the average monthly rate of growth in terms of volume from China totaled +4.8%. The remaining supplying countries recorded the following average monthly rates of imports growth: Taiwan (Chinese) (-11.2% per month) and Thailand (-7.7% per month).
In value terms, China ($58M), Taiwan (Chinese) ($43M) and Japan ($11M) were the largest bare printed circuit board suppliers to the United States, with a combined 59% share of total imports. South Korea, Mexico and Thailand lagged somewhat behind, together comprising a further 15%.
Mexico, with a CAGR of +4.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.
Import Prices by Country
In October 2023, the bare printed circuit board price amounted to $1.3 per unit (CIF, US), declining by -34.7% against the previous month. Overall, the import price continues to indicate a slight reduction. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 58% month-to-month. The import price peaked at $1.9 per unit in September 2023, and then declined markedly in the following month.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was Mexico ($5.0 per unit), while the price for Hong Kong ($336 per thousand units) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.
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