U.S. Import Export Prices Up in November 2020 – U.S. Trade Data

02 January 2021
US Import Export Data

U.S. import prices ticked up by 0.1% in November 2020, after edging down by 0.1% in October. Prices for U.S. exports also rose in November 2020 by 0.6% following advanced of 0.2% in October. According to Export Genius import export data and intelligence reports, higher fuel prices in November and lower non-fuel prices were the major considerations to rise in import prices. Agricultural and non-agricultural exports contributed to an increase in export prices. Gain data-driven insights of U.S. imports and exports prices.


U.S. Import Prices


Based on U.S. import data, the United States of America recorded a 0.1% rise in import prices of total commodities in November 2020, following a 0.1% decline the previous month. Despite the recent increases, prices for U.S. imports declined 1.0% from November 2019 to November 2020.


Fuel, nonfuel, nonfuel supplies, finished goods, foods, feeds and beverages were the largest contributors to rise in U.S. import price of commodities. Below given chart shows percent change in U.S. import prices of total goods and fuel & non-fuel products recorded in Nov & Dec 2019 and Oct & Nov 2020.


Month

All Imports

Fuel Imports

Non-Fuel Imports

November 2019

0.2

2.2

-0.1

December 2019

0.2

1.3

0.1

October 2020

-0.1

-0.9

0.1

November 2020

0.1

4.3

-0.3

 


U.S. Export Prices


Prices of U.S. exports rose by 0.6% in November 2020 and have not recorded a monthly decline since decreasing 3.5% in April. According to U.S. export data, higher prices for both agricultural exports and nonagricultural exports contributed to the November increase. Despite increases in each of the last 6 months, export prices declined 1.1% from November 2019 to November 2020.


Agricultural, nonagricultural, nonagricultural supplies and finished goods were the largest contributors to rise in prices of U.S. exports. Below given chart shows percentage change in U.S. export price index recorded in Nov & Dec 2019 and Oct & Nov 2020.


Month

All Exports

Agricultural Exports

Non-Agricultural Exports

November 2019

0.1

2.4

-0.1

December 2019

-0.2

-0.1

-0.2

October 2020

0.2

3.4

-0.1

November 2020

0.6

3.7

0.3

 


U.S. import prices rebounded less than expected in November 2020 as a rise in the cost of petroleum products was offset by cheaper food and motor vehicles. As per market research reports, inflation could remain moderate amid a resurgence in new Covid-19 infections and rising unemployment. Check latest updates of U.S. imports and exports with shipping information.

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