of many goods now facing tariffs when imported by the US from China has moved
out of China for manufacturing in neighbouring countries. One of the most
obvious impacts is the shift in the Asian manufacturing landscape. according to
a leading ship analyst.
US imports of Christmas tree lights
Cambodia take over a large part of China’s market share.
One of the
most obvious examples is US imports of Christmas tree lights which has seen
Cambodia take over a large part of China’s market share. Another example is US
imports of bicycles.
tariffs have provoked a shift in manufacturing within Asia rather than a return
of production to the US, volumes being shipped out of Asia remained quite stable
before the pandemic hit. The biggest change was in intra-Asian volumes,” says
Peter Sand, BIMCO’s Chief Shipping Analyst.
analysis will focus on two commodities: bikes and Christmas tree lights, as
well as the overall changes in US imports from China and the rest of Asia.
The production of 775,000 bikes moved out
production of 775,000 bikes moved out of China. The United States imported 7.1
million bikes from China and 0.9 million from the rest of Asia during the first
seven months of the calendar year 2020.
of bikes from China have fallen by 17 per cent in the first seven months of
2020 compared with the same period in 2017, while imports of bikes from the
rest of Asia have risen 83.1% though volumes from here remain much lower.
Taiwan and Cambodia’s
bicycle exports to US have risen by 30.4 per cent and 478 per cent to 416,169
and 358,718 bikes, respectively.
China were included in the trade war in July 2018, and although China remains
the dominant producer, it has lost some of its share of US exports to Taiwan
first seven months of 2020, US containerised imports from Asia excluding China
exceeded imports from China. If this continues in the remaining five months of
the year, 2020 will be the first year ever to see this trend.
recent months blurs this picture as China has regained the top spot over its
“Importantly for shipping, the US tariffs have
not provoked a large-scale return of manufacturing to the US, leaving tonne
mile demand from that country relatively
unaffected. As far as containerised shipping is concerned, whether a good is
exported from China or Cambodia makes little difference in terms of distance.”
13.6% drop has to be seen in the context
that imports from China
imported 31.5 million sets of Christmas lights so far this year, down 3.9% from last year, and compared
to the first seven months of 2017, a 13.6% drop. The 13.6% drop has to be seen
in the context that imports from China, which in the first seven months of 2017
accounted for 80% of US imports of Christmas tree lights, have fallen by 74.7%,
whereas imports from the rest of Asia, and in particularly Cambodia, have risen
by 215.3% and 197.8 per cent.
caused a 50 per cent rise in
imports from Cambodia in the first seven months of the year, from a 14.3% rise
in the first seven months of 2017. In contract, China’s share has dropped to
23.3% in the first seven months of this year.