U.S. Prefabricated Wood Building Imports
In October 2023, after two months of growth, there was decline in overseas purchases of prefabricated wood buildings, when their volume decreased by -0.1% to 3.5K tons. In general, imports saw a slight decline. The pace of growth was the most pronounced in January 2023 when imports increased by 62% against the previous month. As a result, imports reached the peak of 4.4K tons. From February 2023 to October 2023, the growth of imports failed to regain momentum.
In value terms, prefabricated wood building imports soared to $28M (IndexBox estimates) in October 2023. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 with an increase of 44% month-to-month.
Imports by Country
In October 2023, Canada (2.3K tons) constituted the largest supplier of prefabricated wood building to the United States, with a 67% share of total imports. Moreover, prefabricated wood building imports from Canada exceeded the figures recorded by the second-largest supplier, China (503 tons), fivefold. Vietnam (301 tons) ranked third in terms of total imports with an 8.7% share.
From October 2022 to October 2023, the average monthly rate of growth in terms of volume from Canada totaled -1.3%. The remaining supplying countries recorded the following average monthly rates of imports growth: China (-2.6% per month) and Vietnam (-2.9% per month).
In value terms, Canada ($17M) constituted the largest supplier of prefabricated wood building to the United States, comprising 61% of total imports. The second position in the ranking was taken by China ($2.7M), with a 9.7% share of total imports. It was followed by Mexico, with a 9.5% share.
From October 2022 to October 2023, the average monthly rate of growth in terms of value from Canada totaled +1.5%. The remaining supplying countries recorded the following average monthly rates of imports growth: China (+4.6% per month) and Mexico (-3.1% per month).
Import Prices by Country
In October 2023, the prefabricated wood building price amounted to $7,998 per ton (CIF, US), increasing by 21% against the previous month. Over the period under review, the import price saw a noticeable increase. The most prominent rate of growth was recorded in May 2023 an increase of 76% month-to-month. As a result, import price attained the peak level of $12,750 per ton. From June 2023 to October 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was Mexico ($17,119 per ton), while the price for Vietnam ($4,381 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by China (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.
