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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of property and equipment, net

​

​	​	​
​		Useful Life
Building	​	20 years
Leasehold Improvements	​	Lesser of lease term and expected useful life
Machinery and equipment		3 – 5 years
Furniture and fixtures		3 – 5 years
Vehicles		5 years
Molds		3 – 5 years

​

​	​	​	​	​	​	​
​	​	As of		​	As of
​		December 31, 2023			December 31, 2022
​		USD		​	USD
​	​	​		​	​
Building	​	$	946,066	​	$	946,066
Leasehold Improvements	​	​	1,695,361	​	​	1,074,206
Machinery and equipment	​		1,613,439	​		2,246,610
Furniture and fixtures	​		259,449	​		516,310
Vehicles	​		147,912	​		147,913
Molds	​		26,377	​		26,377
Subtotal	​		4,688,604	​		4,957,482
Less: accumulated depreciation	​		(2,778,113)	​		(3,687,511)
Total	​	$	1,910,491	​	$	1,269,971

Schedule of disaggregated revenues by product line

​

​	​	​	​	​	​	​
​	​	For the Years Ended
​	​	December 31,
​	​	2023		​	2022
​		USD			USD
Revenues by product line	​	​			​
Sanitaryware	​	$	75,551,117	​	$	104,806,342
Bath Furniture	​		14,770,376	​		29,519,728
Shower System	​	​	19,997,197	​	​	21,586,888
Others	​		6,922,914	​		5,805,585
Total	​	$	117,241,604	​	$	161,718,543

Schedule of revenues and assets by geographic location

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Revenues

​

Total assets

​

​

For the Years Ended

​

As of

​

​

December 31,

​

December 31,

​

​

2023

​

2022

​

2023

​

2022

​

USD

USD

​

USD

USD

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenues/ total assets by geographic location

​

​

​

​

​

​

​

​

​

​

​

​

United States

​

$

74,572,336

​

$

103,255,662

​

$

38,401,665

​

$

38,364,005

Canada

​

31,092,989

​

41,025,288

​

17,850,709

​

14,584,946

Europe

​

​

11,477,070

​

​

16,844,015

​

​

528,068

​

​

343,946

Rest of World

​

99,209

​

593,578

​

8,964,488

​

7,074,033

Total

​

$

117,241,604

​

$

161,718,543

​

$

65,744,930

​

$

60,366,930

Schedule of earnings per share

​

​	​	​	​	​	​	​
​	​	For the Year Ended
​	​	December 31,
​	​	2023		​	2022
​		USD			USD
Numerator:	​	​	​	​	​	​
Net income attributable to FGI Industries Ltd. Shareholders	​	$	733,604	​	$	3,679,920
​	​	​	​	​	​	​
Denominator:	​		​	​		​
Weighted-average number of ordinary shares outstanding — basic	​	​	9,525,434	​	​	9,335,616
Potentially dilutive shares from outstanding options/warrants	​	​	295,678	​	​	6,305
Weighted-average number of ordinary shares outstanding — diluted	​	​	9,821,112	​	​	9,341,921
​	​	​	​	​	​	​
Earnings per share — basic	​	$	0.08	​	$	0.39
Earnings per share — diluted	​	$	0.07	​	$	0.39

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