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What pandemic? U.S. imports in 2020 beat 2019 on sustained consumer surge

China 2728 Cons. Discr. - Apparel 404 Cons. Discr. - Durables 390 Cons. Discr. - Retailing 357 Consumer Staples 667 Coronavirus 472 European Union 704 Health Care 291 Industrials - Capital Goods 506 Trade Balance 888 U.S. 4848 United Kingdom 305

U.S. seaborne imports ended 2020 with a bang, rising 20.4% year over year in December, marking the fastest rate of growth since 2010. Despite the supply chain disruptions and demand destruction caused by the pandemic, December’s expansion meant that total U.S. seaborne imports in 2020 rose by 1.7% year over year to reach 29.25 million TEUs. The rapid pace of growth in December was driven by an expansion in shipments from China, which rose by 34.5% year over year while imports from the EU rose by 12.7%. Both of which likely included delayed deliveries due to ongoing port congestion. Impor...

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