Good afternoon,

Linked below is the Import Export Report for May 2018.

Here are a few key findings:

• Imported beer volume grew by 8.3% during May 2018, bringing the year-to-date trend to +5.4%.
• European imports grew by 20% in May – the strongest single month in more than two years.  North American imports were up 5%.
• The U.S. dollar’s performance versus other major currencies improved considerably in May, appreciating 6% against the peso and 4% against the euro, compared to April. Appreciation of the dollar versus other major currencies leads to growth in Americans’ power to purchase foreign goods of all types, including beer. The dollar’s appreciation is easily the most influential factor in driving May’s strong performance.

If you have any questions, please reach out.

Cheers,

Michael Uhrich
Chief Economist