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

China 2658 Cons. Discr. - Apparel 387 Cons. Discr. - Durables 364 Cons. Discr. - Retailing 330 Consumer Staples 646 Coronavirus 452 European Union 679 Health Care 279 Industrials - Capital Goods 486 Trade Balance 879 U.S. 4725 United Kingdom 298

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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