IPC International Community magazine an association member publication
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IPC COMMUNITY 16 WINTER 2024 industry will bolster its role as a key supplier of auto parts to the United States. Electronics imports from Mexico have seen a notable increase, while concurrently, there has been a sharp decline in imports from China. There have also been sharp rises in other markets in Asia. The share of computer equipment imports from China declined 19.6 percentage points from 2017 to 2023. At the same time, Mexico, Vietnam, and Taiwan all gained significant share. A similar scenario has played out with audio and video equipment. China has seen its share of imports fall over 14 percentage points since 2017. Over this time, Vietnam has seen its share of imports rise 10.7 percentage points. Mexi- co's share has risen 0.6 percentage points. Electronics components like PCBs have also witnessed significant shifts in imports. China's share of PCB imports has fallen 15.2 percent- age points since 2017. Over this time, Taiwan gained 3.4 percentage points and Mexico gained 2.4 percentage points. Several coun- tries have seen their share of PCB imports rise over the past six years. The momentum for nearshoring is not con- fined to North America. Across the Atlantic, European nations are reevaluating their sup- ply chain strategies, turning to Eastern Euro- pean countries with lower labor costs and robust infrastructures to shorten the produc- tion-to-market journey. This shift is catalyzed by the need for businesses to reduce their car- bon footprint, align with sustainability goals, and adhere to the growing legislative pres- sures demanding ethical supply chain prac- tices. The demand for industrial space in key Euro- pean markets is up 28%, driven in part by man- ufacturers nearshoring operations to improve supply chain flexibility and sustainability 5 . Manufacturers took up 9.6 million square meters (103 million square feet) of space in 2022, a significant increase from 7.5 million