us imports
The Top 5 US Import Increases
Adriana Pulley · July 17, 2024 · 1 min read
Big changes in what's coming to the U.S. in containers. Jason Miller, a supply chain professor at Michigan State University, crunched the numbers. Here's what's hot:
Top 5 Import Increases (Jan-May 2024 vs. 2023):
Plastics Products: Up 607,533 metric tons
Semiconductors & Electronic Components: Up 191,761 metric tons
Basic Chemicals: Up 396,377 metric tons
Other General Purpose Machinery: Up 301,354 metric tons
Electrical Equipment & Components: Up 64,408 metric tons
What's driving this?
Plastics:
China's the big player here
They've got too much capacity
So they're pushing exports hard
Semiconductors:
Lots of solar cells coming in
Machinery:
Prices are up 33% since COVID
U.S. factories can't keep up
Buyers looking overseas
Electrical Equipment:
EV batteries are a big part of this
Why it matters:
Shows shifts in global trade
Hints at U.S. manufacturing challenges
Could impact shipping rates and port congestion
Lisa Ellram, a supply chain professor, warns about the environmental cost of more plastics.
Jason Busch, a tech and data expert, says there's "gold in trade data" for startups.
Source: Jason Miller/LinkedIn
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