January 2021 trade data
- Prior month -$82.5 billion
- Exports +1.4% vs +4.6% in December
- Imports +1.1% vs +1.4% in December
The pandemic has caused some large skews in trade with US food and beverage exports up 24.7% y/y and imports of consumer goods up 18.8% y/y. Capital goods exports have recovered the past two months but were down 6.8% y/y.
Overall, trade is a major drag on US growth and not improving.