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Import petroleum and coal prices down 27.8 percent for the year ended in October 2020
November 20, 2020
Prices for U.S. imports decreased 1.0 percent for the year ended in October. Prices for imported manufactured goods increased 0.6 percent over the past year. Within manufactured goods, prices for imported petroleum and coal products decreased 27.8 percent from October 2019 to October 2020, while paper prices decreased 3.3 percent and furniture and related product prices were down 1.0 percent over this 12-month period.
U.S. import prices, manufacturing industries, percent change and relative importance, October 2020
Industry
12-month percent change, October 2019–October 2020
1-month percent change, September 2019–October 2020
Relative importance weight, September 2020
Manufacturing
0.6%
0.0%
92.565%
Food
-0.3
0.1
3.527
Beverage and tobacco product
3.4
0.0
1.191
Textile mills
1.3
-0.8
0.385
Textile product mills
-0.9
0.7
0.935
Apparel
0.6
0.1
3.783
Leather and allied product
0.5
0.1
1.654
Paper
-3.3
-1.0
0.995
Petroleum and coal products
-27.8
0.0
1.995
Chemical
-0.6
0.3
10.26
Plastics and rubber products
2.1
0.2
2.451
Nonmetallic mineral product
-0.1
0.0
1.084
Primary metal
13.3
-0.4
4.590
Fabricated metal product
0.1
-0.2
3.265
Machinery
1.3
0.2
7.847
Computer and electronic product
-0.4
-0.1
17.176
Electrical equipment, appliance, and component
0.4
0.0
5.555
Transportation equipment
1.3
-0.1
16.963
Furniture and related product
-1.0
0.0
1.906
Miscellaneous
1.3
-0.1
5.537
Note: Data may be revised in each of the 3 months after original publication. Relative importance figures are based on 2018 trade values. Because not all industries are shown, manufacturing component industries do not sum to total.
Primary metals import prices increased 13.3 percent. Beverage and tobacco product were up 3.4 percent, while prices for plastics and rubber products were up 2.1 percent over the October 2019 to October 2020 period.
Prices for imports of computer and electronic products, which made up 17.2 percent of total imports, decreased by 0.4 percent. Prices for transportation equipment, which were 17.0 percent of imports, increased 1.3 percent over the year ended in October.
United States Department of Labor
