The cigar market in 2023 will continue to maintain the trend of slowing imports. The American Cigar Association just released data for August, and compared with August 2022, imports of handmade cigars into the United States fell by 4%. In the first eight months of this year, imports fell by 3.2%.
Although the decline was modest, it wasn't a bad year. Throughout August, 298.4 million handmade cigars were shipped to the United States, approaching the magic 300 million mark that once marked a great year. In 2022, the United States imported 464 million handmade cigars.
Nicaragua is a major exporter of premium cigars to the United States, with shipments falling 2.8% to 162 million units in the first eight months of the year. The Dominican Republic was the only country to show growth, with shipments rising 3.5% to 88.9 million units. Cigar production in Honduras, the third largest cigar producer, fell sharply by 15.2% to 46.1 million units.
There are still several months of data to report - including the busiest months of the year, the upcoming holidays - so it's too early to predict this year's results. If current trends continue and 2023 ends at the current pace, down 3.2%, cigar imports this year will be less than 450 million cigars.
