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United States Sees 16% Drop in Petroleum Exports, Dipping to $121 Billion in 2023

global trade petroleum

United States Sees 16% Drop in Petroleum Exports, Dipping to $121 Billion in 2023

U.S. Petroleum Exports

After two years of growth, overseas shipments of petroleum decreased by -3.4% to 186M tons in 2023. The total export volume increased at an average annual rate of +1.2% from 2013 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by 7%. Over the period under review, the exports reached the maximum at 213M tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Read also: Top Import Markets for Petroleum Bitumen

In value terms, petroleum exports dropped significantly to $121B (IndexBox estimates) in 2023. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when exports increased by 57% against the previous year. As a result, the exports reached the peak of $144.8B, and then declined sharply in the following year.

Exports by Country

Mexico (50M tons) was the main destination for petroleum exports from the United States, accounting for a 27% share of total exports. Moreover, petroleum exports to Mexico exceeded the volume sent to the second major destination, Canada (18M tons), threefold. Brazil (8.8M tons) ranked third in terms of total exports with a 4.7% share.

From 2013 to 2023, the average annual rate of growth in terms of volume to Mexico totaled +7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-0.8% per year) and Brazil (+1.8% per year).

In value terms, Mexico ($36.8B) remains the key foreign market for petroleum exports from the United States, comprising 30% of total exports. The second position in the ranking was held by Canada ($13.3B), with an 11% share of total exports. It was followed by Chile, with a 4.8% share.

From 2013 to 2023, the average annual growth rate of value to Mexico stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-0.8% per year) and Chile (+0.6% per year).

Export Prices by Country

In 2023, the petroleum price amounted to $652 per ton (FOB, US), which is down by -13.6% against the previous year. Overall, the export price saw a mild contraction. The most prominent rate of growth was recorded in 2022 an increase of 51% against the previous year. As a result, the export price reached the peak level of $754 per ton, and then reduced in the following year.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Peru ($815 per ton), while the average price for exports to India ($191 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+1.0%), while the prices for the other major destinations experienced a decline.

Source: IndexBox Market Intelligence Platform 

global trade machinery

U.S. Imports of Machinery Reach $3.8B in 2023

U.S. Loading Machinery Imports

In 2023, loading machinery imports into the United States fell to 5.1M units, with a decrease of -6.1% compared with 2022 figures. Overall, imports continue to indicate a slight decline. The most prominent rate of growth was recorded in 2016 with an increase of 12% against the previous year. Over the period under review, imports attained the maximum at 7.4M units in 2017; however, from 2018 to 2023, imports remained at a lower figure.

Read also: Top Import Markets for Machinery for Packing

In value terms, loading machinery imports expanded significantly to $3.8B (IndexBox estimates) in 2023. Over the period under review, total imports indicated a strong increase from 2013 to 2023: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by +32.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 25%. Imports peaked in 2023 and are expected to retain growth in years to come.

Imports by Country

Canada (956K units), Mexico (885K units) and South Korea (377K units) were the main suppliers of loading machinery imports to the United States, with a combined 44% share of total imports.

From 2013 to 2023, the biggest increases were recorded for South Korea (with a CAGR of +28.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest loading machinery suppliers to the United States were Mexico ($996M), Germany ($678M) and Canada ($476M), together accounting for 57% of total imports. South Korea, Italy, China and Japan lagged somewhat behind, together accounting for a further 23%.

South Korea, with a CAGR of +37.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the loading machinery price amounted to $451 per unit (CIF, US), jumping by 22% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($2,018 per unit), while the price for Belgium ($99 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Germany (+20.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform  

market

Exploring the Top Import Markets for Iron and Steel Wire

Iron and steel wire is a crucial material used in various industries such as construction, automotive, and manufacturing. The demand for iron and steel wire continues to grow globally, leading to increased imports in several key markets. In this article, we will explore the top import markets for iron and steel wire and provide key statistics on their import values.

1. United States

The United States tops the list of the world’s best import markets for iron and steel wire with an import value of $1.1 billion in 2023. The country’s strong demand for iron and steel wire is driven by the construction and automotive industries, among others.

2. Germany

Germany ranks second in terms of import value for iron and steel wire, with a total of $1.0 billion in 2023. The country’s robust manufacturing sector and high-quality standards contribute to its significant imports of iron and steel wire.

3. Poland

With an import value of $606.4 million in 2023, Poland is a key player in the global iron and steel wire market. The country’s growing construction industry and infrastructure projects drive its demand for iron and steel wire imports.

4. France

France imported $551.6 million worth of iron and steel wire in 2023, making it one of the top import markets for this essential material. The country’s diverse industrial base and emphasis on innovation contribute to its substantial imports of iron and steel wire.

5. Italy

Italy’s import value for iron and steel wire reached $498.7 million in 2023, highlighting the country’s strong demand for this material. Italy’s vibrant construction sector and machinery manufacturing industry drive its imports of iron and steel wire.

6. Netherlands

The Netherlands imported $408.9 million worth of iron and steel wire in 2023, positioning it as a significant player in the global market. The country’s strategic location and advanced logistics infrastructure make it an attractive destination for iron and steel wire imports.

7. China

China, a global leader in manufacturing, imported $386.4 million worth of iron and steel wire in 2023. The country’s booming construction industry and strong demand for consumer goods contribute to its substantial imports of iron and steel wire.

8. Thailand

Thailand’s import value for iron and steel wire stood at $350.7 million in 2023, reflecting the country’s growing industrial sector. Thailand’s expanding construction and automotive industries drive its demand for iron and steel wire imports.

9. Switzerland

Switzerland imported $347.5 million worth of iron and steel wire in 2023, showcasing the country’s significant demand for this material. Switzerland’s reputation for precision engineering and high-quality standards make it a key market for iron and steel wire imports.

10. Brazil

Brazil rounds out the top-10 list of the world’s best import markets for iron and steel wire with an import value of $332.4 million in 2023. The country’s growing construction and infrastructure projects contribute to its demand for iron and steel wire imports.

In conclusion, the global demand for iron and steel wire continues to drive significant imports in key markets around the world. These top import markets play a crucial role in meeting the growing demand for this essential material, supporting various industries and infrastructure projects.

For more detailed market insights and analytics on iron and steel wire imports, you can refer to the IndexBox market intelligence platform.

Source: IndexBox Market Intelligence Platform  

fork-lift

Top Import Markets for Self-Propelled Non-Electric Fork-Lift Trucks

In today’s global economy, the market for Self-Propelled Non-Electric Fork-Lift Trucks is booming, with countries around the world importing billions of dollars worth of these versatile machines. According to the latest data from IndexBox platform, the top-10 countries by import value of Self-Propelled Non-Electric Fork-Lift Trucks in 2023 are as follows:

1. United States – $4.7 Billion USD

The United States takes the top spot as the world’s largest importer of Self-Propelled Non-Electric Fork-Lift Trucks, with a whopping import value of $4.7 billion USD in 2023. The demand for these machines in the US is driven by the country’s thriving industrial and manufacturing sector.

2. Canada – $964.4 Million USD

Canada follows closely behind the US, with an import value of $964.4 million USD in 2023. The Canadian market for Self-Propelled Non-Electric Fork-Lift Trucks is also growing steadily, thanks to the country’s strong economy and robust logistics industry.

3. Netherlands – $805.1 Million USD

The Netherlands ranks third on the list of top importers of Self-Propelled Non-Electric Fork-Lift Trucks, with an import value of $805.1 million USD in 2023. The Dutch market is known for its advanced logistics infrastructure and high level of industrial automation.

4. Germany – $721.6 Million USD

Germany, the powerhouse of Europe, imports $721.6 million USD worth of Self-Propelled Non-Electric Fork-Lift Trucks in 2023. The German market is characterized by its strong manufacturing sector and high demand for industrial machinery.

5. France – $695.9 Million USD

France is another major importer of Self-Propelled Non-Electric Fork-Lift Trucks, with an import value of $695.9 million USD in 2023. The French market benefits from the country’s diverse industrial base and extensive transportation networks.

6. Australia – $639.6 Million USD

Australia is a key player in the global market for Self-Propelled Non-Electric Fork-Lift Trucks, with imports totaling $639.6 million USD in 2023. The Australian market is driven by the country’s strong mining and construction sectors.

7. Mexico – $523.3 Million USD

Mexico ranks seventh on the list of top importers of Self-Propelled Non-Electric Fork-Lift Trucks, with an import value of $523.3 million USD in 2023. The Mexican market benefits from the country’s close proximity to the US and its growing manufacturing industry.

8. United Kingdom – $480.7 Million USD

The United Kingdom imports $480.7 million USD worth of Self-Propelled Non-Electric Fork-Lift Trucks in 2023, making it one of the top importers in the world. The UK market is known for its advanced logistics systems and strong demand for industrial machinery.

9. Belgium – $381.2 Million USD

Belgium is a significant importer of Self-Propelled Non-Electric Fork-Lift Trucks, with an import value of $381.2 million USD in 2023. The Belgian market benefits from the country’s central location in Europe and its well-developed transportation infrastructure.

10. Italy – $359.6 Million USD

Italy rounds out the top-10 list of importers of Self-Propelled Non-Electric Fork-Lift Trucks, with imports totaling $359.6 million USD in 2023. The Italian market is known for its strong manufacturing sector and high level of industrial automation. Overall, the global market for Self-Propelled Non-Electric Fork-Lift Trucks is thriving, with demand continuing to grow in key importing countries around the world. As businesses continue to invest in automation and efficiency, the market for these machines is expected to expand even further in the coming years.

Source: IndexBox Market Intelligence Platform  

market

Top Import Markets for Bulldozers Around the World

When it comes to heavy machinery, bulldozers are an essential tool for construction, mining, and earthmoving projects. The global market for bulldozers is vast, with billions of dollarsworth of imports and exports moving through various countries each year. In this article, we will take a closer look at the top import markets for bulldozers around the world.

United States

The United States is the world’s largest import market for bulldozers, with an import value of $704.6 million in 2023. The construction industry in the U.S. is booming, which is driving the demand for heavy machinery such as bulldozers. The country relies heavily on imports to meet this demand, making it a key market for bulldozer manufacturers.

Canada

Canada is another significant market for bulldozer imports, with a value of $468.8 million in 2023. The country’s construction and mining sectors are major consumers of bulldozers, leading to a steady demand for these machines. Canadian companies often import bulldozers from a variety of countries to meet their needs.

 Australia

Australia is a key import market for bulldozers, with a value of $443.0 million in 2023. The country’s vast mining industry relies on bulldozers for various earthmoving tasks, making them a crucial piece of equipment. Australian companies import bulldozers from around the world to keep up with demand.

Russia

Russia is another significant importer of bulldozers, with a value of $394.6 million in 2023. The country’s construction industry is growing rapidly, driving the demand for heavy machinery such as bulldozers. Russian companies import bulldozers from a variety of countries to meet their needs.

Indonesia

Indonesia is an emerging market for bulldozer imports, with a value of $252.1 million in 2023. The country’s construction industry is expanding rapidly, creating a growing demand for heavy machinery. Indonesian companies import bulldozers from various countries to support their projects.

Netherlands

The Netherlands is a key import market for bulldozers, with a value of $218.9 million in 2023. The country’s construction sector is a major consumer of heavy machinery, including bulldozers. Dutch companies import bulldozers from a variety of countries to meet their needs. Chile Chile is another important market for bulldozer imports, with a value of $206.3 million in 2023. The country’s mining industry relies heavily on bulldozers for various earthmoving tasks, making them an essential piece of equipment. Chilean companies import bulldozers from around the world to support their projects.

South Africa

South Africa is a significant importer of bulldozers, with a value of $200.8 million in 2023. The country’s construction sector is a major consumer of heavy machinery, including bulldozers. South African companies import bulldozers from various countries to meet their needs.

Mexico

Mexico is also an important market for bulldozer imports, with a value of $171.8 million in 2023. The country’s construction industry is growing steadily, driving the demand for heavy machinery such as bulldozers. Mexican companies import bulldozers from a variety of countries to support their projects.

Germany

Germany rounds out the top 10 import markets for bulldozers, with a value of $118.5 million in 2023. The country’s construction sector is a major consumer of heavy machinery, including bulldozers. German companies import bulldozers from around the world to meet their needs.

Source: IndexBox Market Intelligence Platform  

december

U.S. Strawberry Import Drops to $134M in December 2023

Berry imports into the United States dropped remarkably to 25K tons in December 2023, with a decrease of -64.9% against November 2023 figures. Over the period under review, imports recorded a drastic downturn. The most prominent rate of growth was recorded in October 2023 when imports increased by 190% month-to-month.

In value terms, berry imports reduced dramatically to $134M (IndexBox estimates) in December 2023. Overall, imports faced a drastic downturn. The most prominent rate of growth was recorded in October 2023 when imports increased by 134% m-o-m.

Imports by Country

In December 2023, Mexico (24K tons) was the main supplier of berry to the United States, accounting for a 98% share of total imports. It was followed by Canada (413 tons), with a 1.7% share of total imports.

From December 2022 to December 2023, the average monthly rate of growth in terms of volume from Mexico amounted to -11.1%.

In value terms, Mexico ($130M) constituted the largest supplier of berry to the United States, comprising 97% of total imports. The second position in the ranking was taken by Canada ($2.6M), with a 1.9% share of total imports.

From December 2022 to December 2023, the average monthly growth rate of value from Mexico stood at -9.0%.

Imports by Type

In December 2023, strawberries (24K tons) was the main type of berry supplied to the United States, with a 99% share of total imports. It was followed by currants and gooseberries (132 tons), with a 0.5% share of total imports.

From December 2022 to December 2023, the average monthly rate of growth in terms of the volume of import of strawberries stood at -2.7%.

In value terms, strawberries ($133M) constituted the largest type of berry supplied to the United States, comprising 99% of total imports. The second position in the ranking was taken by currants and gooseberries ($807K), with a 0.6% share of total imports.

Import Prices by Country

In December 2023, the berry price stood at $5,460 per ton (CIF, US), falling by -33.2% against the previous month. Over the period under review, import price indicated a slight increase from December 2022 to December 2023: its price increased at an average monthly rate of +1.9% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2023 figures, berry import price increased by +23.1% against June 2023 indices. The most prominent rate of growth was recorded in November 2023 when the average import price increased by 59% m-o-m. As a result, import price reached the peak level of $8,175 per ton, and then dropped markedly in the following month.

Average prices varied noticeably amongst the major supplying countries. In December 2023, the country with the highest price was Canada ($6,294 per ton), while the price for Mexico totaled $5,437 per ton.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Chile (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

 

market

World’s Best Import Markets for Plywood in 2023

The global market for plywood is a lucrative one, with numerous countries engaging in the import and export of this versatile building material. Plywood is widely used in construction, furniture-making, packaging, and other industries thanks to its durability, versatility, and cost-effectiveness. In this article, we will take a closer look at the world’s best import markets for plywood, based on data provided by the IndexBox market intelligence platform.

1. United States

The United States is the world’s largest importer of plywood, with an import value of 2.1 billion USD in 2023. The country’s strong economy, growing construction sector, and high demand for furniture and packaging materials make it a key player in the global plywood market.

2. Japan

Japan is the second-largest importer of plywood, with an import value of 850.9 million USD in 2023. The country’s advanced technology sector, booming construction industry, and high demand for high-quality building materials drive its substantial plywood imports.

3. South Korea

South Korea is another major player in the global plywood market, with an import value of 775.5 million USD in 2023. The country’s strong manufacturing sector, rapid urbanization, and growing construction industry contribute to its significant plywood imports.

4. Germany

Germany is one of Europe’s largest importers of plywood, with an import value of 742.6 million USD in 2023. The country’s robust manufacturing sector, booming construction industry, and high demand for quality building materials make it a key player in the European plywood market.

5. United Kingdom

The United Kingdom is another major importer of plywood, with an import value of 583.2 million USD in 2023. The country’s strong construction sector, booming furniture industry, and high demand for packaging materials drive its substantial plywood imports.

6. Netherlands

The Netherlands is a key player in the European plywood market, with an import value of 417.2 million USD in 2023. The country’s strategic location, advanced logistics infrastructure, and strong demand for high-quality building materials contribute to its significant plywood imports.

7. France

France is another major importer of plywood in Europe, with an import value of 343.1 million USD in 2023. The country’s thriving construction sector, booming furniture industry, and high demand for packaging materials make it a key player in the European plywood market.

8. Canada

Canada is a significant importer of plywood, with an import value of 341.5 million USD in 2023. The country’s vast forests, strong construction industry, and high demand for quality building materials drive its substantial plywood imports.

9. Malaysia

Malaysia is a key player in the Asian plywood market, with an import value of 338.4 million USD in 2023. The country’s abundant natural resources, strong manufacturing sector, and high demand for building materials contribute to its significant plywood imports.

10. Australia

Australia is another major importer of plywood in the Asia-Pacific region, with an import value of 324.0 million USD in 2023. The country’s booming construction sector, strong furniture industry, and high demand for packaging materials drive its substantial plywood imports.

Overall, the global plywood market is a thriving one, with numerous countries engaging in the import and export of this versatile building material. The top import markets for plywood include the United States, Japan, South Korea, Germany, the United Kingdom, the Netherlands, France, Canada, Malaysia, and Australia, with each country contributing significantly to the global plywood trade.

Source: IndexBox Market Intelligence Platform 

animal feed

Top Import Markets for Animal Feed in 2023

When it comes to the global trade of animal feed, several countries stand out as the top import markets. According to the latest data from the IndexBox market intelligence platform, the following countries are the world’s top-10 importers of animal feed by import value in 2023:

1. Belgium – $967.2 Million USD

2. Netherlands – $915.0 Million USD

3. Germany – $879.3 Million USD

4. United States – $845.8 Million USD

5. Norway – $701.0 Million USD

6. France – $667.5 Million USD

7. Vietnam – $624.3 Million USD

8. United Kingdom – $533.0 Million USD

9. Poland – $471.6 Million USD

10. Italy – $469.6 Million USD

These countries play a crucial role in driving the demand for animal feed products on the global market. Let’s take a closer look at some of the key statistics and trends that make them the world’s best import markets for animal feed.

1. Belgium

Belgium takes the top spot as the largest importer of animal feed, with an import value of $967.2 million USD in 2023. The country’s strategic location in Europe makes it a key hub for importing and re-exporting animal feed products to other countries in the region.

2. Netherlands

The Netherlands follows closely behind Belgium, with an import value of $915.0 million USD in 2023. The country’s strong agricultural sector and advanced logistics infrastructure make it an attractive destination for animal feed imports. Looking for Local Partners? Connect with the right partners to expand your reach. Book a free 30-minute consultation to find your match. Book Your Free Call Marín Orriols

3. Germany

Germany ranks third in terms of import value, with $879.3 million USD in 2023. The country’s large livestock industry and stringent quality standards drive the demand for high-quality animal feed products from international suppliers.

4. United States

The United States is the fourth-largest importer of animal feed, with an import value of $845.8 million USD in 2023. The country’s thriving livestock sector and growing demand for specialized feed products make it a lucrative market for exporters around the world.

5. Norway

Norway ranks fifth in terms of import value, with $701.0 million USD in 2023. The country’s focus on sustainable agriculture and aquaculture drives the demand for high-quality animal feed products to support its growing livestock and fish farming industries.

6. France

France is the sixth-largest importer of animal feed, with an import value of $667.5 million USD in 2023. The country’s diverse agricultural sector and high consumption of meat and dairy products create a strong demand for a wide range of animal feed products from international suppliers.

7. Vietnam

Vietnam ranks seventh in terms of import value, with $624.3 million USD in 2023. The country’s rapidly growing livestock and aquaculture industries drive the demand for a variety of animal feed products to support its expanding agricultural sector.

8. United Kingdom

The United Kingdom is the eighth-largest importer of animal feed, with an import value of $533.0 million USD in 2023. The country’s large livestock industry and strict food safety regulations create a strong demand for high-quality animal feed products from global suppliers.

9. Poland

Poland ranks ninth in terms of import value, with $471.6 million USD in 2023. The country’s growing agricultural sector and increasing focus on sustainable farming practices drive the demand for a wide range of animal feed products to support its livestock and poultry industries.

10. Italy

Italy rounds out the top-10 import markets for animal feed, with an import value of $469.6 million USD in 2023. The country’s diverse agricultural sector and high consumption of meat and dairy products create a strong demand for a variety of animal feed products from international suppliers.

Overall, these top import markets play a crucial role in driving the global demand for animal feed products. Their diverse agricultural sectors, growing livestock industries, and stringent quality standards create lucrative opportunities for exporters looking to tap into the growing market for animal feed around the world.

For the latest data and insights on the global market for animal feed, be sure to check out the IndexBox market intelligence platform.

Source: IndexBox Market Intelligence Platform

country

Top Import Markets for LPG

1. China – $20.2 Billion USD

China leads the way as the world’s largest importer of LPG, with a total import value of $20.2 billion in 2023. The country’s high demand for LPG is driven by its rapidly growing economy and expanding industrial sector.

2. India – $10.9 Billion USD

India comes in second place with an import value of $10.9 billion in 2023. The country’s strong demand for LPG is due to its large population and increasing use of LPG for cooking and heating purposes.

3. South Korea – $5.9 Billion USD

South Korea is the third largest importer of LPG, with an import value of $5.9 billion in 2023. The country relies heavily on imported LPG to meet its energy needs, particularly in the industrial sector.

4. Japan – $5.7 Billion USD

Japan is another major importer of LPG, with a total import value of $5.7 billion in 2023. The country’s high demand for LPG is driven by its need for energy sources to power its industrial and residential sectors.

5. Indonesia – $4.5 Billion USD

Indonesia ranks fifth in terms of LPG imports, with a total import value of $4.5 billion in 2023. The country’s increasing population and expanding economy have led to a growing demand for LPG as an energy source.

6. United States – $2.7 Billion USD

The United States is the sixth largest importer of LPG, with an import value of $2.7 billion in 2023. The country’s strong demand for LPG is driven by its use in the industrial, residential, and transportation sectors.

7. Turkey – $2.2 Billion USD

Turkey ranks seventh in terms of LPG imports, with a total import value of $2.2 billion in 2023. The country’s increasing urbanization and industrialization have led to a growing demand for LPG as a reliable energy source.

8. Mexico – $2.1 Billion USD

Mexico is the eighth largest importer of LPG, with an import value of $2.1 billion in 2023. The country’s strong demand for LPG is driven by its use in the residential, commercial, and transportation sectors.

9. Netherlands – $2.1 Billion USD

The Netherlands ranks ninth in terms of LPG imports, with a total import value of $2.1 billion in 2023. The country’s strategic location as a hub for energy imports has made it a key player in the global LPG market.

10. Belgium – $2.1 Billion USD

Belgium rounds out the top-10 import markets for LPG, with an import value of $2.1 billion in 2023. The country’s strong demand for LPG is driven by its use in the residential, commercial, and industrial sectors.

Overall, these top-10 countries play a crucial role in the global LPG market as major importers of this versatile energy source. As the world’s demand for LPG continues to rise, these import markets are expected to remain key players in the industry for years to come.

Source: IndexBox Market Intelligence Platform

 

truck

Top Import Markets for Truck and Bus Tyres in the World

When it comes to the global market for truck and bus tyres, certain countries stand out as major importers in this industry. These countries play a key role in the importation of truck and bus tyres, contributing significantly to the growth and development of the market. Let’s take a closer look at the world’s best import markets for truck and bus tyres, based on data from the IndexBox market intelligence platform.

1. United States

Ranked as the top import market for truck and bus tyres, the United States imported a total of 6.0 billion USD worth of tyres in 2023. The country’s strong demand for these tyres can be attributed to its large fleet of commercial vehicles, as well as its robust transportation industry.

2. Mexico

Mexico comes in second in terms of import value, with 1.9 billion USD worth of truck and bus tyres imported in 2023. The country’s proximity to the United States and its growing economy have contributed to the increasing demand for tyres in Mexico.

3. Germany

Germany is another key player in the import market for truck and bus tyres, with 1.7 billion USD worth of tyres imported in 2023. The country’s strong automotive industry and high demand for commercial vehicles drive the importation of tyres in Germany.

4. Canada

Canada ranks fourth in terms of import value, with 1.1 billion USD worth of truck and bus tyres imported in 2023. The country’s vast landscape and reliance on transportation for trade and commerce fuel the demand for tyres in Canada.

5. France

France imported 912.9 million USD worth of truck and bus tyres in 2023, making it one of the top import markets for these tyres. The country’s well-developed transportation infrastructure and strong commercial vehicle market contribute to the demand for tyres in France.

6. Italy

Italy is another key player in the import market for truck and bus tyres, with 714.4 million USD worth of tyres imported in 2023. The country’s automotive industry and extensive road network drive the importation of tyres in Italy.

7. Netherlands

The Netherlands imported 702.7 million USD worth of truck and bus tyres in 2023, solidifying its position as one of the top import markets for these tyres. The country’s strategic location and well-established logistics industry contribute to the demand for tyres in the Netherlands.

8. Brazil

Brazil imported 642.5 million USD worth of truck and bus tyres in 2023, showcasing its significance as an import market for these tyres. The country’s large commercial vehicle fleet and extensive road network drive the importation of tyres in Brazil.

9. Belgium

Belgium is another important player in the import market for truck and bus tyres, with 641.0 million USD worth of tyres imported in 2023. The country’s central location in Europe and strong transportation industry contribute to the demand for tyres in Belgium.

10. Australia

Rounding out the top-10 import markets for truck and bus tyres is Australia, which imported 633.9 million USD worth of tyres in 2023. The country’s vast land area and reliance on transportation for trade drive the importation of tyres in Australia.

Overall, these top import markets play a crucial role in the global trade of truck and bus tyres, with each country contributing to the growth and development of the market. By importing significant amounts of these tyres, these countries help meet the demand for commercial vehicles and ensure the smooth operation of transportation networks worldwide.

Source: IndexBox Market Intelligence Platform