Increase in United States' Drawing Ink Pen Import Price to $2.9 per Unit in May 2023

Increase in United States

In May 2023, the import price of drawing ink pens in the United States rose to $2.9 per unit, witnessing a significant 112% increase compared to the previous month. This surge indicates a strong growth trend, reaching the peak level and likely to continue rising in the near future. The prices of drawing ink pens varied based on their country of origin, with Taiwan having the highest price per unit at $17.5, while China had one of the lowest prices at $357 per thousand units. From May 2022 to May 2023, Japan experienced the most notable price growth at 3.1%, whereas other major suppliers saw more modest increases. Meanwhile, there was a significant decline in imports of Indian ink drawing pens, fountain pens, and stylograph pens in May 2023, with a decrease of -40.5% to 1.3 million units. Overall, imports observed a sharp contraction after two months of growth, and the pace of growth peaked in July 2022 at a 71% month-on-month increase. In terms of value, drawing ink pen imports in May 2023 amounted to $3.6 million, although they continued to demonstrate a relatively flat trend pattern throughout the review period. The most rapid growth in value occurred in October 2022, with a 37% month-on-month increase. China was the largest supplier, accounting for 90% of total imports with 1.1 million units, surpassing Japan's second-place figure of 42,000 units by more than tenfold. From May 2022 to May 2023, China experienced an average monthly decline of -5.2% in import volume, while Japan and Taiwan witnessed rates of -6.4% and +0.0% per month, respectively. In terms of value, China, Japan, and Taiwan constituted the largest suppliers, making up 32% of total imports. Taiwan recorded the highest growth rate in import value with a CAGR of +2.0%, while other leading suppliers experienced a decline in purchases.

Source: IndexBox Market Intelligence Platform

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