Importers & Exporters Top 100 2025
disruptions of recent years that diverted vessels from the Suez Canal, as well as port congestion, excessive rail container dwell times and inland bottlenecks.
“ The takeaway from the 2021 – 22 issues is that this is a resilient industry,” he said.
email: bill. mongelluzzo @ spglobal. com
Automobiles and auto parts
The US imported nearly 1.4 million TEUs of vehicles and parts last year, the second most ever. Shutterstock. com |
TOTAL
2,288,392 TEUs
↑9.2 %
Change from 2023
↑2.4 %
|
IMPORTS
1,357,904 TEUS
↑11.6 %
Change from 2023
↑4.3 %
|
EXPORTS
930,489 TEUs
↑5.9 %
Change from 2023
↓0.1 %
|
|
5-year compound annual growth rate |
5-year compound annual growth rate |
5-year compound annual growth rate |
Rehab recovery
HHG imports rebounded in 2024, despite weak housing market
By William B. Cassidy
A weak housing market hobbled by inflated home values and high mortgage rates didn’ t deter demand for household goods( HHG) imports last year, but tariffs and higher construction costs could be a bigger impediment in 2025.
US sales of furniture and home furnishings, a core part of the HHG category, increased 8.8 % from March through December 2024, rising to $ 11.8 billion, according to US Census Bureau data.
That increase in spending fueled a 19.9 % jump in containerized HHG imports last year to 5.3 million TEUs, according to data from PIERS, a sister product of the Journal of Commerce within S & P Global.
That’ s the highest level of HHG imports— a category that includes products ranging from furniture to rugs, drapes, appliances and cookware— since hitting a peak of 5.7 million TEUs in 2021 at the height of pandemic-era purchasing.
The increase in HHG imports and sales last year demonstrates the HHG market doesn’ t always move in lockstep with the housing market, especially when consumers decide they need a new dishwasher, couch or coat of paint.
While home remodeling is as of now still expected to pick up in 2025 after more than a year of decline, last year’ s rebound may well be reversed by US tariffs, not just on China but on Vietnam and other sources of furniture and related goods.
Home remodeling rising
US consumers may need new homes, but they’ re not buying yet.
US single family housing starts declined 9.7 % year over year in March and were down 14.2 % month to month, the latest Census Bureau data shows.
Mortgage rates have declined, but the average rate for a 30-year mortgage was above 6.5 % in late April, according to Freddie Mac, still prohibitively high for many potential homebuyers.
Home prices and value continue to increase, however, with the national median single-family home price rising 4.1 % year over year in February to $ 410,000, according to the National Association of Realtors( NAR).
With the value of their property rising, many homeowners may be willing to spend more on furnishings for their existing single-family homes, townhouses and condos, even as they wait for mortgage rates to drop further before selling or buying a new home.
That assumption is backed by the Leading Indicator of Remodeling Activity( LIRA), an index prepared by Harvard University that tracks home improvement and repair spending.
After five quarters of year-over-year decline, the LIRA rose 0.5 % year over year in the first quarter of 2025, and is projected to climb 2.5 % through the first quarter of 2026.
Household goods
IMPORTS
5,291,088 TEUs
↑19.9 %
Change from 2023
↑6.3 %
5-year compound annual growth rate www. joc. com May 5, 2025 | Journal of Commerce 35