According to the US Geological Survey, the United States experienced a 6.31 per cent decline in crude and dried bauxite imports in 2024, despite a 31.58 per cent year-on-year increase in the fourth quarter. Year-on-year decreases in the second and third quarters primarily drove the annual drop.
Total imports for the year amounted to 2.08 million tonnes, down from 2.22 million tonnes in 2023. While fourth-quarter imports rose from 380,000 to 500,000 tonnes, the increase was insufficient to offset the yearly decline. Additionally, imports in the fourth quarter saw a quarter-on-quarter drop of 53,000 tonnes, or 9.58 per cent, further contributing to the overall decrease in import volumes.
After a year-on-year increase in the first quarter, with imports rising from 462,000 tonnes to 501,000 tonnes, the United States saw a decrease in imports during the second and third quarters. Year-on-year imports in Q2 and Q3 dropped by 28 per cent and 14.66 per cent, respectively, falling from 733,000 tonnes to 527,000 tonnes and from 648,000 tonnes to 553,000 tonnes. However, on a quarterly basis, Q2 and Q3 recorded sequential increases of 5.2 per cent and 4.93 per cent, respectively. Going forward, the trend of quarterly growth reversed in Q4.
Import analysis of Q4
The increase in the United States crude and dried bauxite imports in Q4 2024 was primarily driven by Jamaica and Turkey, supplying 356,000 tonnes and 131,000 tonnes, respectively. The imports from Jamaica grew 19.46 per cent Y-o-Y from 298,000 tonnes, while those from Turkey surged by 75.14 per cent from 74,800 tonnes, according to USGS data.
However, it is essential to note that despite contributing to the overall import growth in Q4, both Jamaica and Turkey experienced a decline in import volumes compared to the previous quarter. Q4 imports from Jamaica fell by 2.47 per cent from 365,000 tonnes in Q3, while imports from Turkey dropped by 29.95 per cent from 187,000 tonnes.
Events
e-Magazines
Reports
Responses
