March 2021 | News | Takeaways

U.S. Trade Ups and Downs

Tags: Global Economy, Import, Export

Exports and imports of goods and services in the United States decreased 12.3% to $4.9 trillion in 2020, the largest nominal decrease since 2009, according to data from the U.S. Department of Commerce. Exports decreased by 15.7% while imports decreased by 9.5%. Total trade decreased as well, representing 23.6% of gross domestic product in 2020, down from 26.3% in 2019, the data says.

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