The Top 5 US Import Increases

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):

1. Plastics Products: Up 607,533 metric tons
2. Semiconductors & Electronic Components: Up 191,761 metric tons
3. Basic Chemicals: Up 396,377 metric tons
4. Other General Purpose Machinery: Up 301,354 metric tons
5. 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