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July 2023 Sees a Surge in Beer Imports to the United States, With a Total Worth of $673M

july

July 2023 Sees a Surge in Beer Imports to the United States, With a Total Worth of $673M

U.S. Beer Imports

Beer imports into the United States rose notably to 458M litres in July 2023, growing by 6.7% on the previous month’s figure. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in March 2023 when imports increased by 27% against the previous month. Imports peaked in July 2023.

In value terms, beer imports rose remarkably to $673M (IndexBox estimates) in July 2023. Overall, imports saw a slight increase. The most prominent rate of growth was recorded in March 2023 when imports increased by 30% against the previous month. Over the period under review, imports reached the peak figure in July 2023.

Imports by Country

In July 2023, Mexico (381M litres) constituted the largest beer supplier to the United States, accounting for a 83% share of total imports. Moreover, beer imports from Mexico exceeded the figures recorded by the second-largest supplier, the Netherlands (35M litres), more than tenfold. The third position in this ranking was held by Canada (12M litres), with a 2.5% share.

From July 2022 to July 2023, the average monthly rate of growth in terms of volume from Mexico stood at +1.1%. The remaining supplying countries recorded the following average monthly rates of imports growth: the Netherlands (-1.4% per month) and Canada (-0.7% per month).

In value terms, Mexico ($572M) constituted the largest supplier of beer to the United States, comprising 85% of total imports. The second position in the ranking was held by the Netherlands ($52M), with a 7.7% share of total imports. It was followed by Ireland, with a 1.7% share.

From July 2022 to July 2023, the average monthly growth rate of value from Mexico stood at +1.4%. The remaining supplying countries recorded the following average monthly rates of imports growth: the Netherlands (-2.0% per month) and Ireland (+0.9% per month).

Import Prices by Country

In July 2023, the beer price stood at $1.5 per litre (CIF, US), standing approximately at the previous month. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 2.3% m-o-m. The import price peaked in July 2023.

Prices varied noticeably by the country of origin: the country with the highest price was Mexico ($1.5 per litre), while the price for Canada ($808 per thousand litres) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Ireland (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

silicone

Market Entry Strategy for Silicone in the United States

Entering the silicone market in the United States requires a well-planned strategy that leverages available data, official sources, and assistance from authorities. This guide provides insights into the market, including data from the IndexBox market intelligence platform, along with a list of trade shows and exhibitions that can facilitate market entry.

Understanding the Market

Silicone is a versatile material widely used in various industries, including automotive, construction, electronics, healthcare, and consumer goods. The United States is a significant importer of silicone, with an import value of $1.2 billion in 2022.

Top Importing Countries

When formulating a market entry strategy, it is crucial to consider the top importing countries of silicone to the United States. According to the IndexBox data, the top five importing countries in 2022 were:

  1. Germany – $288.8 million
  2. China – $255.0 million
  3. Japan – $201.7 million
  4. Canada – $109.7 million
  5. Thailand – $67.9 million

Data Sources and Authorities

For accurate and reliable information, it is advisable to rely on official data sources and seek support from relevant authorities. The IndexBox market intelligence platform is an excellent resource to access comprehensive market data, including import values and prices. However, it should be noted that the excessive use of this platform in the guide is not recommended. Other official sources such as the U.S. Census Bureau, U.S. International Trade Commission, and U.S. Department of Commerce can provide valuable insights into the market.

Market Entry Strategy

The following steps can guide a successful market entry strategy for silicone in the United States:

1. Market Research

Conduct thorough market research to identify target segments, understand customer needs, and analyze competitors. Leverage data from official sources and market intelligence platforms to gain insights into market trends, demand, and growth potential.

2. Regulatory Compliance

Familiarize yourself with the regulatory requirements of importing silicone into the United States. Ensure compliance with relevant standards, certifications, and labeling regulations to meet the expectations of customers and authorities.

3. Distribution Channels

Identify appropriate distribution channels based on the target market segment. Collaborate with local distributors, wholesalers, or retailers to reach customers effectively. Establish strategic partnerships to expand the market reach.

4. Marketing and Promotion

Create a comprehensive marketing and promotion plan to raise awareness about your silicone products. Leverage digital marketing strategies, including social media, content marketing, and search engine optimization, to reach the target audience. Participate in industry-specific publications and platforms to showcase your offerings.

5. Networking and Trade Shows

Develop a strong network within the industry by attending trade shows, exhibitions, and conferences. These events offer opportunities to connect with potential customers, partners, and industry experts. The following trade shows and exhibitions can be helpful in the silicone market:

  • International Silicone Conference
  • Silicone Elastomers World Summit
  • Silicone and TPE World Summits
  • International Silicone & TPE Expo

6. Pricing Strategy

Set competitive pricing based on import prices and market demand. Benchmark your prices against the industry average to ensure affordability and attract customers.

7. Customer Support

Offer excellent customer support to build trust and maintain long-term relationships. Provide after-sales services, technical assistance, and warranty options to enhance customer satisfaction.

Conclusion

Entering the silicone market in the United States requires careful planning and market analysis. By utilizing official data sources, seeking help from authorities, and leveraging insights from the IndexBox market intelligence platform, businesses can develop a successful market entry strategy. Engaging in trade shows and exhibitions facilitates networking and exposure, enabling companies to establish their presence in the competitive silicone market.

Source: IndexBox Market Intelligence Platform  

july

July 2023 Sees An Impressive 10% Surge in U.S. Imports of Tissue Paper, Reaching $43M

U.S. Tissue Paper Imports

In July 2023, supplies from abroad of toilet or facial tissue stock, towel and similar paper was finally on the rise to reach 28K tons for the first time since April 2023, thus ending a two-month declining trend. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when imports increased by 54% against the previous month.

In value terms, tissue paper imports rose notably to $43M (IndexBox estimates) in July 2023. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 with an increase of 35% against the previous month.

Imports by Country

Canada (7.3K tons), Indonesia (5.4K tons) and Mexico (4.7K tons) were the main suppliers of tissue paper imports to the United States, with a combined 62% share of total imports. Turkey, Italy and Vietnam lagged somewhat behind, together accounting for a further 24%.

From July 2022 to July 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +27.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($12M), Indonesia ($7.8M) and Mexico ($6.9M) constituted the largest tissue paper suppliers to the United States, together comprising 61% of total imports. These countries were followed by Turkey, Italy and Vietnam, which together accounted for a further 24%.

Among the main suppliers, Italy, with a CAGR of +25.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In July 2023, the tissue paper price amounted to $1,549 per ton (CIF, US), with a decrease of -6.4% against the previous month. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in September 2022 an increase of 11% month-to-month. The import price peaked at $1,795 per ton in December 2022; however, from January 2023 to July 2023, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In July 2023, the highest price was recorded for prices from Canada ($1,612 per ton) and Italy ($1,611 per ton), while the price for Indonesia ($1,446 per ton) and Mexico ($1,456 per ton) were amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Indonesia (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform  

import

Top Import Markets for Yams Around the Globe

Yams are a versatile and nutritious root vegetable that is grown in various parts of the globe. They are especially popular in Africa, Asia, and the Caribbean, where they are a staple food in many traditional dishes.

However, yams are not only consumed in their country of origin but are also in high demand in import markets around the world. In this article, we will explore the top import markets for yams, highlighting key statistics and market trends.

1. United States

The United States is the leading import market for yams, with an import value of 79.458 million USD in 2022 (IndexBox data). Yams are popular among a diverse range of ethnic communities in the country, including African, Caribbean, and Asian communities.

The demand for yams in the United States has been steadily increasing over the years. This can be attributed to several factors, including the growing multicultural population, the popularity of international cuisines, and the increasing awareness of the health benefits of yams.

In recent years, the United States has also witnessed a rise in the number of Asian grocery stores and specialty food markets, which cater to specific ethnic communities. These stores often import yams directly from producing countries to meet the demand of their customers.

2. Canada

Canada is another significant import market for yams, with an import value of 32.002 million USD in 2022. Yams are particularly popular in Canada’s diverse immigrant communities.

Similar to the United States, Canada has experienced a steady increase in the demand for yams in recent years. The multicultural nature of the country has played a significant role in driving this demand, as immigrants bring their food traditions and preferences with them.

In addition to its immigrant population, Canada also has a growing health-conscious consumer base. Yams are valued for their high nutritional content and are often perceived as a healthier alternative to other starchy vegetables.

3. United Kingdom

Yams are also highly sought after in the United Kingdom, with an import value of 13.277 million USD in 2022. The demand for yams has been steadily increasing in the UK, primarily driven by the country’s diverse immigrant communities and the popularity of international cuisines.

The United Kingdom has a long history of cultural exchange and has been heavily influenced by its former colonies. This has resulted in the integration of various cuisines and food traditions, including those that incorporate yams as a key ingredient.

The popularity of yams in the United Kingdom is evident in the thriving African and Caribbean food markets, where yams are often imported to meet the demand of the local population. Yams are an essential component of dishes such as Jollof rice, a popular West African dish, and the traditional Caribbean dish, Ackee and Saltfish.

4. Taiwan, Chinese

Taiwan is a significant import market for yams, with an import value of 11.55 million USD in 2022. Yams are a common ingredient in Taiwanese cuisine and are used in various dishes, including soups, stews, and desserts.

Yams are highly valued in Taiwanese culture for their nutritional properties and are often considered a healthy addition to meals. Taiwanese consumers also appreciate the versatility of yams, as they can be prepared in numerous ways and incorporated into both sweet and savory dishes.

In recent years, Taiwan has witnessed a growing trend of health-conscious eating, with consumers seeking out natural, nutritious ingredients. Yams, with their low fat and high fiber content, have emerged as a popular choice among health-conscious Taiwanese consumers.

5. France

France is another significant market for yams, with an import value of 7.975 million USD in 2022. Yams are valued for their unique taste and texture, making them a popular ingredient in French cuisine.

French cuisine is renowned for its emphasis on quality ingredients and the use of fresh produce. Yams, with their distinct flavor and versatility, have found a place in both traditional and modern French dishes.

The demand for yams in France is not only driven by the local population but also by the growing popularity of Caribbean and African cuisines. French consumers are increasingly experimenting with international flavors and incorporating yams into their culinary repertoire.

In conclusion, yams have become a sought-after ingredient in various import markets around the world. The demand for yams is driven by factors such as growing multicultural populations, the popularity of international cuisines, and increasing awareness of their health benefits.

The top import markets for yams, as highlighted by the IndexBox market report, include the United States, Canada, the United Kingdom, Taiwan (Chinese), and France. These countries have witnessed a steady increase in the import value of yams, reflecting the global popularity of this versatile root vegetable.

As the demand for yams continues to rise, it is crucial for producers and exporters to understand the preferences and requirements of these import markets. By catering to the unique needs of each country, yam producers can ensure the success of their exports and contribute to the growth of the global yam market.

Source: IndexBox Market Intelligence Platform  

fiber

Guide on How to Start a Glass Fiber Business in the United States

Starting a business in the glass fiber market can be a profitable venture, given the growing demand for this material across various industries. This guide will provide you with valuable information on how to enter the glass fiber market in the United States, including official data sources and assistance from local authorities.

Step 1: Market Research and Analysis

Before starting your business, it is crucial to conduct thorough market research and analysis. This will help you understand the current state of the glass fiber market, including consumption volume, import and export data, and market trends. The IndexBox market intelligence platform is an excellent resource for obtaining accurate and up-to-date data on the glass fiber market in the United States. According to IndexBox data, the consumption volume of glass fiber in the United States in 2022 was 360.8 thousand tons. The import value was 777.4 million USD, with an import price of 4.0 USD per kg. On the other hand, the export value was 981.2 million USD, with an export price of 10.2 USD per kg. These figures indicate a significant market potential for glass fiber businesses.

Step 2: Business Plan and Legal Requirements

Once you have gathered sufficient market data, it is time to develop a comprehensive business plan. Your business plan should outline your goals, target market, marketing strategies, financial projections, and operational details. Additionally, you need to consider the legal requirements for starting a business in the glass fiber industry, such as permits, licenses, and regulations specific to this sector. It is advisable to seek guidance from local authorities and business support organizations to ensure compliance.

Step 3: Supplier and Manufacturer Selection

The next crucial step is to identify reliable suppliers and manufacturers of glass fiber. Research and establish partnerships with companies known for their high-quality products, competitive pricing, and reliable delivery schedules. Building a strong supply chain is essential for maintaining a steady inventory and meeting the demands of your customers.

Step 4: Product Differentiation and Marketing

In a competitive market like glass fiber, product differentiation is key to attracting customers. Identify unique selling points for your products, such as superior quality, customized solutions, or eco-friendly manufacturing processes. Develop a robust marketing strategy, including online and offline channels, to reach your target customers effectively.

Step 5: Establishing Distribution Channels

To ensure efficient product distribution, you need to establish effective distribution channels. Identify potential distributors, wholesalers, or retailers who can help you reach a wider customer base. Networking and attending industry trade shows and exhibitions can also provide valuable opportunities to connect with potential partners and customers.

Step 6: Continuous Improvement and Adaptation

The glass fiber market is constantly evolving, and it is essential to stay updated with the latest industry trends, technological advancements, and customer preferences. Continuously invest in research and development to improve product quality, explore new applications, and identify emerging market demands.

Conclusion

Entering the glass fiber market in the United States requires careful planning, market analysis, and compliance with legal requirements. By utilizing resources such as the IndexBox market intelligence platform and seeking assistance from local authorities, you can establish a successful and profitable glass fiber business. Remember to conduct thorough market research, develop a comprehensive business plan, and continuously strive for improvement to stay ahead in this competitive industry.

Source: IndexBox Market Intelligence Platform 

computer

Average Price of U.S. Computer Storage Devices Is $190 per Unit

U.S. Computer Storage Device Import Price in July 2023

In July 2023, the computer storage device price stood at $190 per unit (CIF, US), remaining stable against the previous month. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in September 2022 an increase of 15% against the previous month. Over the period under review, average import prices reached the peak figure at $250 per unit in October 2022; however, from November 2022 to July 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Thailand ($145 per unit), while the price for China ($66.4 per unit) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-0.3%), while the prices for the other major suppliers experienced a decline.

U.S. Computer Storage Device Imports

In July 2023, overseas purchases of computer storage devices decreased by -15.9% to 2.6M units, falling for the second consecutive month after two months of growth. In general, imports recorded a noticeable curtailment. The pace of growth was the most pronounced in February 2023 when imports increased by 28% against the previous month. Imports peaked at 5.2M units in August 2022; however, from September 2022 to July 2023, imports failed to regain momentum.

In value terms, computer storage device imports declined rapidly to $502M (IndexBox estimates) in July 2023. Overall, imports showed a deep setback. The growth pace was the most rapid in April 2023 when imports increased by 19% m-o-m. Imports peaked at 1.1B units in October 2022; however, from November 2022 to July 2023, imports failed to regain momentum.

U.S. Computer Storage Device Imports by Country

In July 2023, Thailand (1.8M units) constituted the largest computer storage device supplier to the United States, with a 67% share of total imports. Moreover, computer storage device imports from Thailand exceeded the figures recorded by the second-largest supplier, the Philippines (280K units), sixfold. The third position in this ranking was taken by China (251K units), with a 9.5% share.

From July 2022 to July 2023, the average monthly rate of growth in terms of volume from Thailand amounted to -4.8%. The remaining supplying countries recorded the following average monthly rates of imports growth: the Philippines (-4.2% per month) and China (-5.6% per month).

In value terms, Thailand ($254M) constituted the largest supplier of computer storage device to the United States, comprising 51% of total imports. The second position in the ranking was taken by the Philippines ($24M), with a 4.9% share of total imports. It was followed by Taiwan (Chinese), with a 4% share.

From July 2022 to July 2023, the average monthly growth rate of value from Thailand totaled -6.5%. The remaining supplying countries recorded the following average monthly rates of imports growth: the Philippines (-9.1% per month) and Taiwan (Chinese) (-2.4% per month).

Source: IndexBox Market Intelligence Platform 

july

July 2023 Sees Slight Decrease in U.S. Steel Foundry Imports, Totalling $29M

U.S. Steel Foundry Imports

In July 2023, after two months of growth, there was significant decline in supplies from abroad of steel foundries (except investment), when their volume decreased by -9.4% to 5.7K tons. Over the period under review, imports recorded a slight decrease. The pace of growth was the most pronounced in June 2023 with an increase of 20% m-o-m.

In value terms, steel foundry imports contracted modestly to $29M (IndexBox estimates) in July 2023. The total import value increased at an average monthly rate of +1.0% over the period from July 2022 to July 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. The pace of growth appeared the most rapid in November 2022 when imports increased by 17% against the previous month. As a result, imports reached the peak of $32M. From December 2022 to July 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (2K tons), India (1.4K tons) and Brazil (823 tons) were the main suppliers of steel foundry imports to the United States, together accounting for 73% of total imports.

From July 2022 to July 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +6.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($6.5M), India ($5.8M) and Brazil ($4.6M) were the largest steel foundry suppliers to the United States, together accounting for 59% of total imports.

Among the main suppliers, Brazil, with a CAGR of +8.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In July 2023, the steel foundry price amounted to $5,039 per ton (CIF, US), with an increase of 6.4% against the previous month. Over the period from July 2022 to July 2023, it increased at an average monthly rate of +2.1%. The most prominent rate of growth was recorded in November 2022 an increase of 28% against the previous month. Over the period under review, average import prices attained the peak figure at $5,062 per ton in May 2023; however, from June 2023 to July 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($13,455 per ton), while the price for China ($3,260 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Argentina (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform  

urea

How to Successfully Enter the US Market with Urea

Urea, a widely used fertilizer around the world, has a significant market potential in the United States. With a large and growing agriculture industry, the demand for urea is continuously increasing. However, entering a new market can be a complex process, requiring careful planning and execution. In this guide, we will provide you with a step-by-step strategy for a successful market entry into the United States, along with official data sources and help from authorities.

Step 1: Market Research

Before entering the U.S. market, it is crucial to conduct thorough market research to understand the demand, competition, and market dynamics. To gather market intelligence, we recommend utilizing the IndexBox market intelligence platform, which provides comprehensive data and analysis on the U.S. urea market.

According to the data from the IndexBox platform, the consumption volume of urea in the United States reached 11.565 million tons in 2022. This indicates a significant market opportunity for urea manufacturers and suppliers.

Step 2: Understanding the Import Market

As a newcomer to the U.S. market, it is necessary to understand the import trends and the competitive landscape. According to the IndexBox data, the import value of urea in the United States was $6.16 billion in 2022.

The import price of urea in the United States in 2022 was $0.618 per kilogram, indicating the average price at which urea is imported into the country.

Furthermore, the top five countries in terms of import value for urea in the United States in 2022 were Qatar ($680.175 million), Oman ($519.738 million), Russia ($457.445 million), Canada ($363.168 million), and Saudi Arabia ($346.922 million). Understanding the market shares of these countries can help in formulating a competitive strategy.

Step 3: Market Entry Strategy

Based on the market research conducted and the data from the IndexBox platform, we recommend the following steps for a successful market entry strategy:

1. Identify Target Customers:

Segment the market based on the target customer base. Urea is predominantly used in agriculture, so identifying farmers, agricultural cooperatives, and agribusinesses as target customers would be essential. Research the regions with high agricultural activity and align the marketing efforts accordingly.

2. Competitive Pricing:

Estimate the optimal price point for urea based on the import price data and competitive analysis. Consider factors such as quality, packaging, and transportation costs to ensure competitive pricing.

3. Distribution Network:

Establish a robust distribution network by partnering with local distributors or setting up direct sales channels. This will ensure efficient delivery of urea to customers across various regions in the United States.

4. Branding and Marketing:

Invest in branding and marketing efforts to differentiate your urea product from competitors. Highlight the quality, sustainability, and specific benefits of your product to attract customers. Leverage digital marketing tools and platforms to reach a wider audience.

5. Regulatory Compliance:

Ensure compliance with all regulatory requirements for importing and selling urea in the United States. Familiarize yourself with the necessary permits, certifications, and labeling requirements to avoid any legal issues.

Step 4: Seek Assistance from Authorities

The United States has various government agencies and organizations that can provide assistance and guidance to businesses entering the market. The U.S. Department of Agriculture (USDA) and the Foreign Agricultural Service (FAS) are crucial resources for information on market opportunities, trade policies, and regulations in the agriculture sector. Connect with their representatives to seek advice and support for your market entry.

Step 5: Participate in Trade Shows and Exhibitions

Trade shows and exhibitions provide excellent platforms to showcase your urea product, connect with potential customers, and network with industry professionals. Here are some notable trade shows and exhibitions related to the agriculture industry in the United States:

  • World Ag Expo, Tulare, California
  • National Farm Machinery Show, Louisville, Kentucky
  • Mid-America Trucking Show, Louisville, Kentucky
  • American Seed Trade Association (ASTA) Vegetable & Flower Seed Conference, Orlando, Florida
  • Produce Marketing Association (PMA) Fresh Summit, Various Locations

Participating in these events can provide valuable exposure and opportunities for business development.

Conclusion

Entering the U.S. market for urea requires a well-planned market entry strategy backed by thorough research and analysis. By utilizing the IndexBox platform for market intelligence, understanding import trends, and seeking assistance from authorities, businesses can position themselves for success in this lucrative market. With a comprehensive strategy, competitive pricing, and effective marketing efforts, urea producers and suppliers can capture a significant share of the growing demand in the United States.

Source: IndexBox Market Intelligence Platform  

july

Import of Refrigerators and Freezers in the United States Surges by 6% to $730M in July 2023

U.S. Refrigerator and Freezer Imports

In July 2023, after six months of growth, there was significant decline in overseas purchases of refrigerators and freezers, when their volume decreased by -5% to 1.6M units. Over the period under review, imports continue to indicate a mild shrinkage. The growth pace was the most rapid in May 2023 when imports increased by 14% month-to-month. Imports peaked at 2M units in July 2022; however, from August 2022 to July 2023, imports remained at a lower figure.

In value terms, refrigerator and freezer imports expanded notably to $730M (IndexBox estimates) in July 2023. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 when imports increased by 21% against the previous month. Over the period under review, imports hit record highs at 799M units in July 2022; however, from August 2022 to July 2023, imports stood at a somewhat lower figure.

Imports by Country

China (750K units), Mexico (519K units) and South Korea (134K units) were the main suppliers of refrigerator and freezer imports to the United States, together accounting for 88% of total imports.

From July 2022 to July 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +0.2%), while imports for the other leaders experienced a decline.

In value terms, Mexico ($365M) constituted the largest supplier of refrigerator and freezer to the United States, comprising 50% of total imports. The second position in the ranking was taken by South Korea ($180M), with a 25% share of total imports. It was followed by China, with a 13% share.

From July 2022 to July 2023, the average monthly growth rate of value from Mexico was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: South Korea (+1.2% per month) and China (-3.7% per month).

Imports by Type

Combined refrigerators-freezers (942K units) and household refrigerators and freezers (not combined) (655K units) were the main products of refrigerator and freezer imports to the United States.

From July 2022 to July 2023, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by combined refrigerator-freezer (with a CAGR of -1.6%).

In value terms, combined refrigerators-freezers ($627M) constituted the largest type of refrigerator and freezer supplied to the United States, comprising 86% of total imports. The second position in the ranking was taken by household refrigerators and freezers (not combined) ($103M), with a 14% share of total imports.

Import Prices by Country

In July 2023, the refrigerator and freezer price amounted to $457 per unit (CIF, US), growing by 12% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.1%. The growth pace was the most rapid in September 2022 an increase of 12% m-o-m. Over the period under review, average import prices attained the peak figure at $528 per unit in March 2023; however, from April 2023 to July 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was South Korea ($1,337 per unit), while the price for China ($128 per unit) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by South Korea (+1.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform  

furniture

July 2023 Sees a Drop in U.S. Imports of Upholstered Furniture to $489M

U.S. Upholstered Household Furniture Imports

After three months of growth, overseas purchases of upholstered household furniture decreased by -7.7% to 109K tons in July 2023. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in April 2023 with an increase of 40% month-to-month.

In value terms, upholstered household furniture imports shrank slightly to $489M (IndexBox estimates) in July 2023. In general, imports saw a slight decline. The growth pace was the most rapid in April 2023 with an increase of 23% month-to-month.

Imports by Country

China (56K tons), Vietnam (33K tons) and Malaysia (4.8K tons) were the main suppliers of upholstered household furniture imports to the United States, with a combined 86% share of total imports. Mexico, Thailand and Italy lagged somewhat behind, together comprising a further 6.5%.

From July 2022 to July 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +2.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Vietnam ($194M), China ($155M) and Mexico ($46M) were the largest upholstered household furniture suppliers to the United States, together comprising 81% of total imports.

Vietnam, with a CAGR of +0.5%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In July 2023, the upholstered household furniture price amounted to $4,467 per ton (CIF, US), rising by 5.4% against the previous month. Over the period under review, the import price, however, showed a mild reduction. The growth pace was the most rapid in January 2023 an increase of 7.4% month-to-month. Over the period under review, average import prices reached the peak figure at $5,162 per ton in July 2022; however, from August 2022 to July 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Mexico ($14,141 per ton), while the price for Malaysia ($2,440 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Mexico (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform