U.S. Imports Tracking for 20% YoY Growth With China, India, Vietnam Leading
Jungle Scout, the leading all-in-one platform for selling on Amazon, launched its annual 2021 Global Imports Report, which reveals projected growth of U.S. imports in 2021 in the face of the ongoing COVID-19 pandemic.
The report explores U.S. maritime imports between 2015 and 2021 across 237 countries and all industries, analyzing how the landscape of imports has changed amidst the pandemic, evolving consumer demand, global supply chain disruptions, and more.
Key takeaways include:2021 U.S. imports are up 33% over 2020.
- The total number of imports in the first half of 2021 exceeded 7.5 million, a 33% increase over the first half of 2020.
- Based on annual import trends and current 2021 trajectory, total imports for 2021 may exceed 16 million, marking a 20% year-over-year increase —barring unpredictable pandemic influence.
- Ten countries account for 72% of total share of imports, and three industries make up 45% of U.S. imports in 2021.
- China's share of imports is more than six times greater than the second-largest supplier to the U.S., Vietnam, at 6.3%.
- India's share of U.S. imports grew faster than any other country — up 32% between the first half of 2020 to the first half of 2021 — with a 76% increase in total quantity of imports.
- Vietnam's share of U.S. imports is up 14% over 2020 with a 52% increase in total quantity of imports.
- Meanwhile, Australia, New Zealand, and Canada reduced total exports to the U.S. during this time.
- The Machinery & Electrical industry has remained roughly 20% of total U.S. imports since 2015 and is up 37% in 2021.
- The Wood & Wood Products category has dropped 16% since 2015. Additionally, the textiles category decreased again in share by 9% after experiencing a 7% decrease from 2019 to 2020.
"Global trade to the U.S. shows clear growth in 2021 to date, but with several notable shifts in the countries leading that production," said Greg Mercer, Founder & CEO of Jungle Scout. "In the e-commerce community, we've recognized enormous demand alongside turbulent supply, meaning online brands and sellers need to stay flexible and aware of changing consumer demand, supplier options, and global news overall."
About the Global Imports Report
All data represents United States maritime imports from Jan. 1, 2015 to June 30, 2021 from 237 unique countries. Jungle Scout analyzed more than 79 million maritime U.S. import records, including information on the shipper and shipment, from which country and category are extracted.