May 2023 Sees Astounding 93% Increase in U.S. Imports of Christmas Decorations Valued at $97M

May 2023 Sees Astounding 93% Increase in U.S. Imports of Christmas Decorations Valued at $97M

U.S. Christmas Decoration Imports

In May 2023, the number of Christmas decorations imported from overseas soared by 69% to reach 32 million units. This marked the second consecutive month of growth following a decline during the previous two months. Import trends showed relative stability overall, with the most rapid growth occurring in June 2022, when there was a 187% increase compared to the previous month. Although imports reached record highs of 378 million units in August 2022, they remained at lower levels from September 2022 to May 2023.

In terms of value, the imports of Christmas decorations reached a staggering $97 million in May 2023, according to estimates from IndexBox. Despite the significant increase in May, the trend for imports remained relatively flat. The highest growth rate was recorded in June 2022, with a month-to-month increase of 180%. While imports peaked at 1.1 billion units in August 2022, they maintained lower levels from September 2022 to May 2023.

Imports by Country

In May 2023, China stood as the largest supplier of Christmas decorations to the United States, providing 27 million units, which accounted for an 85% share of the total imports. The second-largest supplier was India, with 1 million units, more than ten times less than China. Taiwan (Chinese) held the third position with 740,000 units, representing a 2.3% share.

Between May 2022 and May 2023, the average monthly rate of volume growth in imports from China was 1.0%. India experienced an average monthly growth rate of 4.4%, while Taiwan (Chinese) saw a slight decline of 0.5% per month.

In terms of value, China dominated the market with $84 million, making up 87% of the total imports. Sri Lanka ranked second with $2.2 million and a 2.2% share, followed by Thailand with a 1.5% share.

Between May 2022 and May 2023, the average monthly growth rate of import value from China was relatively modest. Sri Lanka experienced an average monthly growth rate of 4.9%, while Thailand saw a decline of 4.1% per month.

Import Prices by Country

In May 2023, the import price of Christmas decorations was $3.0 per unit (CIF, US), representing a 14% increase compared to the previous month. The overall trend for import prices remained relatively stable, with the highest growth rate of 15% recorded in January 2023. The peak import price of $3.3 per unit was reached in May 2022, but from June 2022 to May 2023, import prices remained at a slightly lower level.

Prices varied significantly depending on the country of origin, with Sri Lanka having the highest price per unit at $4.1, while Myanmar had one of the lowest prices at $835 per thousand units.

Between May 2022 and May 2023, Sri Lanka experienced the most notable growth rate in terms of prices, with an increase of 2.3%. The prices for other major suppliers showed mixed trend patterns.



Source: IndexBox Market Intelligence Platform

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