U.S. Import Export Prices Up in November 2020 – U.S. Trade Data
02 January 2021
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.
