U.S. Import & Export Prices Increased in March 2021 – US Trade Data

30 April 2021
US Import Export Data

The United States of America recorded an increase in import and export prices in March 2021. As per Export Genius US trade data and analytics, the price index for U.S. imports rose 1.2% in March 2021 following a 1.3% advance in February and 1.4% increase in January. U.S. export prices increased 2.1% in March, after 1 1.5% rise in February and 2.6% rise in January this year. See a larger picture of US import and export market from U.S. import export data.


China is the largest trading of the United States. Prices for imports from China rose 0.4% in March 2021, after rising 1.1% from November in February. Import prices from China rose over the past year, rising 1.8%. The March 12-month advance was the largest over-the-year increase since a 1.8% rise in April 2012.


U.S. price index for exports increased 9.1% from March 2020 to March 2021, the largest over-the-year increase since a 9.4% advance in September 2011. The United States reported 3.5% increase in price index for exports to China during March 2021, after a 0.9% advance the previous month. The March increase was the largest 1-month upwards since the index was first published in December 2017, and contributed to an 11.8% advance from March 2020 to March 2021.


U.S. Imports (2020-Jan to 2021-Jan)


As per US import data, value of total import shipments recorded USD 202.1 billion in Jan 2020, which declined till June. Thereafter, US imports rose in other months of 2020. However, the United States recorded a decline in value of imports in Jan 2021. Below given chart shows dollar amount of US total imports recorded from Jan 2020 to Jan 2021.



Month

Value USD Billion

Jan-2020

202.1

Feb-2020

183.3

Mar-2020

199.6

Apr-2020

170.6

May-2020

169.1

Jun-2020

185.0

Jul-2020

206.6

Aug-2020

209.7

Sep-2020

212.7

Oct-2020

226.3

Nov-2020

219.5

Dec-2020

222.4

Jan-2021

211.4

 


U.S. Exports (2020-Jan to 2021-Jan)


As far as exports are concerned, the United States of America shipped goods worth USD 129.1 billion in Jan 2020. US export data shows that dollar amount rose for in Feb and Mar months and declined thereafter. Since June 2020, the USA has been recording a rise in total export shipments till Dec 2020. In January 2021, U.S. exports declined and settled at USD 127.6 billion. Check value of goods exported by the US from Jan-2020 to Jan-2021.



Month

Value USD Billion

Jan-2020

129.1

Feb-2020

132.0

Mar-2020

134.5

Apr-2020

95.7

May-2020

90.6

Jun-2020

105.0

Jul-2020

112.6

Aug-2020

118.0

Sep-2020

121.4

Oct-2020

132.5

Nov-2020

126.9

Dec-2020

132.5

Jan-2021

127.6

 


U.S. Imports and Exports (2019-2020)


The year 2020 was bad time for the United States as the country went through many trade restrictions due to coronavirus pandemic. The value of both imports and exports shipments went down in 2020 as compared to the previous year. Visualize dollar amount of U.S. import & export commodities recorded in 2019 and 2020.



Year

Import Value USD Billion

Export Value USD Billion

2019

2,568

1,645

2020

2,407

1,431

 


Since the beginning of Covid-19 pandemic, the United States went through severe economy disruptions. The U.S. also put various tariff barriers with China, who is US’s largest trading partner. In fact, the Washington is seeking for trade alternatives as the country has imposed more restrictions on trade with China, who is the epicenter of coronavirus outbreak. Let’s see how 2021 will be for the United States in terms of imports & exports as the country continue to be struggling with deadly virus.

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