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Overview of US Import and Export Trade Statistics for FY 2021

Import Trade Statistics 2021:

Imports

Entry summary volume increased by 12.5% from 2020 to 2021, primarily attributed to economic recovery after the Covid-19 lockdowns of 2020. The increase boosted 2021’s numbers well past the last pre-pandemic year on record, 2019, by 3.9%. Total import values increased by 15.7% from 2020 to 2021 as well, with 2021’s values surpassing 2019’s numbers by 4.9%.

Enforcement

CBP Action

2017

2018

2019

2020

2021

Audits

418

435

391

466

442

Penalties

931

1,385

2,108

2,309

2,394

Liq. Damages

10,327

9,214

21,093

19,612

19,834

Seizures

60,336

50,952

62,509

73,709

83,402

Despite entry volume increasing by the greatest single-year increment in 2021, CBP oversaw fewer audits– a 5.5% decrease from 2020. Penalties, however, did increase by 3.4% between 2020 and 2021, liquidated damages increased slightly by 1.1%, and seizures rose by 13.2%. With enforcement numbers on the rise, now is the time to consider doing an import assessment.

Trade Remedies

Trade Remedy

Duty Assessed*

Sec 232 Steel

 $       10,513,389,920

Sec 232 Aluminum

 $        2,946,656,935

Sec 301 China

 $      122,664,477,636

*As of Jan 20, 2022

CBP assessed $2.9 billion in Section 232 aluminum duties, $10.5 billion in Section 232 steel duties, and over $122 billion in Section 301 duties during FY2021.

Furthermore, at the end of 2021 a total of 657 AD/CVD orders were in effect, which is a 21.7% increase over 2020.

Export Trade Statistics 2021:

Exports by Country

Country

Total $ in Exports (in billions)

% Change

Canada

$308

+21%

Mexico

$276

+30%

China

$151

+22%

Japan

$75

+17%

South Korea

$66

+29%

US exports increased from 2020 to 2021 by 23.3%, rising from $1.4288 trillion to $1.762 (USD). Exports to main trading partners for the United States increased across the board as well by an average of 23.8%, registering a high of +30% (for a total of $276 billion) for exports to Mexico in 2021.

Exports by Industry

Industry

Total $ in Exports (in billions)

Industrial Supplies

$169.6

Capital Goods

$59.3

Consumer Goods

$47.3

Food & Beverage

$25.9

Automotive

$15.7

Other

$11.8

The increase in export values was also seen across all industries with an average of $55 billion per category, with industrial supplies registering a massive $169.6 billion increase from 2020 to 2021.

Incorporated in the State of Florida in 1992, Allyn International’s experts are well versed in current trade issues and all facets of import and export compliance. We help our customers improve compliance, avoid penalties and fines, and minimize costs. If you have any questions or if you would like any additional information on any of the above matters please contact Allyn at sales@allynintl.com.

Contributor: Matthew Dreckman


About Allyn International

Allyn International is dedicated to providing high quality, customer centric services and solutions for the global marketplace. Allyn's core products include transportation management, logistics sourcing, freight forwarding, supply chain consulting, tax management and global trade compliance. Allyn clients range from small local businesses to Fortune 500 firms. Allyn conducts business in more than 20 languages and has extensive experience in both developed and emerging markets. Highly trained experts are positioned throughout North and South America, Europe and Asia. Allyn’s regional headquarters are strategically located in Fort Myers, Florida, U.S.A., Shanghai, P.R. China, Prague, Czech Republic, and Dubai, U.A.E. For more information, visit www.allynintl.com.

 

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