CBP Trade Stats Show Duties Collections Climb
The CBP collected about $85.5 billion in duties in the fiscal year that ended Sept. 30, 2021, a 14.9% increase from the previous fiscal year, a recent report shows. The annual report also noted that there were 36.9 million entries during the fiscal year, which was higher than before the pandemic.
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The report also noted that withhold release orders and forced labor findings resulted in approximately $486 million worth of goods being detained, from 1,469 shipments during the fiscal year.
In more recent data, which goes through March 2022, CBP said it seized nearly 10,583 shipments with counterfeit goods that would have been valued at more than $1.5 billion if sold at manufacturers' retail prices in the last six months. That is about the same pace as in the previous fiscal year, when, across 12 months, CBP seized 27,107 shipments, and the value was estimated at $3.3 billion. In fiscal year 2020, goods valued at $1.31 billion were seized over intellectual property rights violations.
Overall in March, CBP processed more than 3.1 million entry summaries, and CBP estimated importers will pay almost $9 billion in duties for those entries. Shipments on the water accounted for 37% of the total import value.