U.S. Household Refrigerator and Freezer Imports Grew Steadily in the Recent Years, Worsening the Trade Deficit to almost 5.3 Billion USD

Domestic Appliances June 14, 2016
Author: Sergey Avramenko
Head of Global Markets Research Team

Photo: © Ksander / Bigstockphoto

The U.S. runs the show in global imports of household refrigerators and home freezers, with a 22% share (based on USD). It was distantly followed by Germany (6%), the UK (5%) and France (5%). In 2015, U.S. household refrigerator and home freezer imports totaled 6,337 million USD, which was 593 million USD (10%) more than the year before.

From 2007 to 2015, U.S. household refrigerator and home freezer imports showed mixed dynamics. A slight drop in 2009 was followed by steady growth over the next six years, driven by the recovery of housing starts and consumer spending. There was an annual increase of healthy +10.2% throughout the post-crisis period of 2009-2015. In 2010, the U.S. household refrigerator and home freezer importers overcame the pre-recession import level achieved in 2008.

Considering ongoing economic recovery and favourable expectations for growth of housing starts и consumer spending, the U.S. remains one of the most attractive destinations for overseas suppliers.

Mexico was the main supplier of household refrigerator and home freezer into the U.S., with a 52% share of total U.S. imports in 2015. It was followed by China (20%) and Korea (18%), which were also the fastest growing suppliers. Imports from China and Korea grew by +11.1% per year and +10.4% per year from 2007 to 2015, respectively, while Mexico recorded only 4.3% growth. China and Korea strengthened theirs positions in U.S. imports, while Mexico saw its share reduced from 60% in 2007.

From 2007 to 2015, the U.S. was a net importer of household refrigerators and home freezers. Moreover, imports grew faster than exports on average over the period under review.

Net US imports of household refrigerators and home freezers showed an upward trend over the period under review. In 2015, this industry ran a significant trade deficit of 5,276 million USD.

Source: U.S. Household Refrigerator And Home Freezer Market. Analysis And Forecast to 2020