U.S. shipping container imports fall to $999 million

US Shipping Container Imports

After two years of growth, the supply of shipping containers from abroad fell by -8.6% to 598,000 units in 2023. However, imports grew significantly during the reporting period. The most significant growth rate occurred in 2021, when imports grew by 188%. Imports peaked at 655,000 units in 2022, before falling the following year.

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In terms of value, shipping container imports fell sharply in 2023 to $999 million (IndexBox estimates). But overall, imports grew strongly. The fastest growth was in 2021, with an increase of 101%. Imports peaked at $1.5 billion in 2022, before shrinking sharply the following year.

Import situation by country

In 2023, China (314,000 units) becomes the largest supplier of shipping containers to the United States, accounting for 52% of total imports. In addition, the number of shipping containers imported from China is nine times that of the second largest supplier, Germany (34,000 units). The Netherlands (20,000 units) ranks third in terms of total imports, accounting for 3.3%.

Imports from China will grow at an average annual rate of +60.1% between 2020 and 2023. The remaining suppliers will see the following average annual growth rates: Germany (+67.9% per year) and the Netherlands (+2.0% per year).

In terms of value, China ($707 million) is the largest supplier of shipping containers to the United States, accounting for 71% of total imports. The second largest country is the Netherlands ($65 million), accounting for 6.5% of total imports. Germany is next, accounting for 3.9%.

Imports from China will grow at an average annual rate of +37.1% between 2020 and 2023. The remaining suppliers will see the following average annual growth rates in imports: the Netherlands (+17.0% per year) and Germany (+21.7% per year).

Import prices by country

In 2023, the price of a shipping container was $1,670 per unit (CIF, US), down -25.6% from the previous year. Overall, import prices fell sharply. The rate of increase was most pronounced in 2022, when the average import price increased by 20% from the previous year. During the reporting period, the average import price peaked in 2020 at $2,689 per unit; however, from 2021 to 2023, import prices were slightly lower.

There are significant differences in average prices among the main supplying countries. Among the main importing countries in 2023, the country with the highest price is Mexico (US$ 3,258 per unit), while the country with the lowest price is Japan (US$ 236 per unit).

The most notable price growth rate between 2020 and 2023 will be in Mexico (+32.0%), while price growth in other major supplying countries will be more moderate.

Source: IndexBox Market Intelligence Platform