<SEC-DOCUMENT>0001415889-23-005453.txt : 20230327
<SEC-HEADER>0001415889-23-005453.hdr.sgml : 20230327
<ACCEPTANCE-DATETIME>20230327180101
ACCESSION NUMBER:		0001415889-23-005453
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230323
FILED AS OF DATE:		20230327
DATE AS OF CHANGE:		20230327

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Lin Perry
		CENTRAL INDEX KEY:			0001886432

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41207
		FILM NUMBER:		23765701

	MAIL ADDRESS:	
		STREET 1:		906 MURRAY ROAD
		CITY:			EAST HANOVER
		STATE:			NJ
		ZIP:			07869

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FGI Industries Ltd.
		CENTRAL INDEX KEY:			0001864943
		STANDARD INDUSTRIAL CLASSIFICATION:	HEATING EQUIP, EXCEPT ELEC & WARM AIR & PLUMBING FIXTURES [3430]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		906 MURRAY ROAD
		CITY:			EAST HANOVER
		STATE:			NJ
		ZIP:			07869
		BUSINESS PHONE:		973-428-0400

	MAIL ADDRESS:	
		STREET 1:		906 MURRAY ROAD
		CITY:			EAST HANOVER
		STATE:			NJ
		ZIP:			07869
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-03272023_100354.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0407</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2023-03-23</periodOfReport>

    <issuer>
        <issuerCik>0001864943</issuerCik>
        <issuerName>FGI Industries Ltd.</issuerName>
        <issuerTradingSymbol>FGI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001886432</rptOwnerCik>
            <rptOwnerName>Lin Perry</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>906 MURRAY ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>EAST HANOVER</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07869</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>CHIEF FINANCIAL OFFICER</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.26</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2023-03-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>38759</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2032-05-11</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>38759</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>38759</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On May 11, 2022, the reporting person was granted an option to purchase 44,860 ordinary shares. The option was subject to the registrant's satisfaction of certain performance criteria for the fiscal year ending December 31, 2022. The performance criteria were partially met, resulting in vesting of option of up to 38,759 shares. The option will vest as to one-third of the 38,759 shares on March 31, 2023, then in 36 equal monthly installments upon completion of each additional month of service.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ John S. Chen, Attorney-in-Fact</signatureName>
        <signatureDate>2023-03-27</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
