News Release 22-072
Inv. No(s). 332-345
Contact: Jennifer Andberg, 202-205-1819
Shifts in U.S. Merchandise Trade 2021 (Trade Shifts 2021) is now available on the U.S. International Trade Commission (USITC) internet site.
The USITC, an independent, nonpartisan federal agency, released its annual web-based report on changes in U.S. merchandise trade patterns.
Trade Shifts 2021 highlights changes in U.S. exports and imports by merchandise sector and select trading partners in terms of absolute value changes, relative percent changes, and changes in rank. It includes interactive features, such as tables and graphics that allow users to view and refine, as they choose, the official government data presented.
Highlights from the Trade Shifts 2021 report include:
- U.S. total exports and general imports both increased in 2021. These increases were largely driven by supply and demand factors associated with the recovery from the effects of the COVID-19 pandemic and rising commodity prices.
- The report includes a special topic chapter that examines the significant rise in commodity prices that occurred in 2021, outlining commodity price trends and relating observed trends to trade flows changes. The chapter includes case studies that explore how commodity price increases impacted markets and trade flows for unwrought aluminum, corn, and natural gas.
- U.S. exports of all 10 merchandise sectors included in this report increased from 2020 to 2021. The merchandise sectors with the largest export increases were chemicals and related products, energy-related products, and minerals and metals.
- U.S. imports of all 10 merchandise sectors included in this report increased from 2020 to 2021. The merchandise sectors with the largest import increases were energy-related products, electronic products, and minerals and metals.
- Canada returned to its position as the top U.S. trade partner in 2021; China and Mexico fell to second and third place, respectively. The largest destination markets for U.S. exports were Canada and Mexico. China continued to be the top source of U.S. imports and remained the third largest destination market for U.S. exports.
Shifts in U.S. Merchandise Trade 2021 can be accessed at https://www.usitc.gov/research_and_analysis/tradeshifts/2021/index