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U.S. terms of trade with China declined 0.2 percent in August 2021, after decreasing 0.3 percent in July. In both months, higher import prices from China more than offset rising export prices to China. Despite the recent drops, U.S. terms of trade with China rose 8.0 percent over the past year.
Month | Mexico | Japan | China | European Union |
Canada |
---|---|---|---|---|---|
Dec 2017 |
100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
Jan 2018 |
100.6 | 100.5 | 100.8 | 101.2 | 101.0 |
Feb 2018 |
101.0 | 101.7 | 101.4 | 100.9 | 101.3 |
Mar 2018 |
101.1 | 101.2 | 102.4 | 101.1 | 102.5 |
Apr 2018 |
101.6 | 100.7 | 102.2 | 101.2 | 101.6 |
May 2018 |
102.1 | 100.7 | 102.4 | 101.2 | 99.2 |
Jun 2018 |
102.6 | 100.5 | 101.8 | 101.4 | 99.1 |
Jul 2018 |
103.1 | 99.5 | 99.7 | 101.4 | 99.2 |
Aug 2018 |
103.0 | 99.5 | 99.7 | 101.3 | 100.5 |
Sep 2018 |
102.1 | 99.4 | 98.0 | 101.6 | 102.8 |
Oct 2018 |
102.6 | 99.5 | 99.0 | 101.8 | 102.7 |
Nov 2018 |
102.0 | 99.5 | 99.2 | 102.3 | 110.4 |
Dec 2018 |
101.8 | 99.2 | 98.7 | 101.9 | 117.8 |
Jan 2019 |
101.9 | 97.8 | 98.4 | 102.1 | 105.4 |
Feb 2019 |
102.0 | 98.8 | 99.3 | 102.5 | 98.4 |
Mar 2019 |
103.3 | 98.9 | 100.0 | 102.6 | 96.9 |
Apr 2019 |
101.8 | 99.5 | 100.6 | 103.1 | 94.5 |
May 2019 |
101.2 | 98.8 | 99.3 | 102.7 | 94.2 |
Jun 2019 |
101.2 | 98.9 | 99.3 | 102.8 | 98.1 |
Jul 2019 |
101.9 | 99.5 | 100.1 | 103.4 | 98.7 |
Aug 2019 |
101.5 | 98.9 | 99.1 | 103.3 | 98.8 |
Sep 2019 |
101.2 | 99.0 | 99.0 | 103.1 | 98.3 |
Oct 2019 |
101.5 | 99.4 | 99.1 | 103.1 | 99.4 |
Nov 2019 |
103.0 | 99.0 | 99.4 | 102.7 | 99.1 |
Dec 2019 |
102.2 | 99.2 | 99.2 | 102.7 | 99.6 |
Jan 2020 |
103.5 | 99.0 | 99.0 | 102.8 | 100.6 |
Feb 2020 |
101.1 | 97.9 | 98.3 | 102.1 | 104.0 |
Mar 2020 |
101.2 | 95.2 | 96.2 | 100.8 | 110.5 |
Apr 2020 |
96.7 | 92.0 | 93.7 | 98.9 | 121.5 |
May 2020 |
96.7 | 92.0 | 94.7 | 98.8 | 119.4 |
Jun 2020 |
96.4 | 95.8 | 97.5 | 100.1 | 106.7 |
Jul 2020 |
97.2 | 96.8 | 98.7 | 100.5 | 104.7 |
Aug 2020 |
96.3 | 97.5 | 99.6 | 100.6 | 100.5 |
Sep 2020 |
96.8 | 98.1 | 98.4 | 100.1 | 101.6 |
Oct 2020 |
97.8 | 98.6 | 99.2 | 99.7 | 102.3 |
Nov 2020 |
99.8 | 99.1 | 100.9 | 100.0 | 103.8 |
Dec 2020 |
100.7 | 100.2 | 102.1 | 100.5 | 100.3 |
Jan 2021 |
103.1 | 102.1 | 102.0 | 101.3 | 97.2 |
Feb 2021 |
104.8 | 103.6 | 102.7 | 101.9 | 95.0 |
Mar 2021 |
108.0 | 104.8 | 106.0 | 101.9 | 92.0 |
Apr 2021 |
109.6 | 104.5 | 106.3 | 102.2 | 91.7 |
May 2021 |
118.2 | 107.7 | 107.7 | 102.6 | 88.8 |
Jun 2021 |
118.4 | 108.8 | 108.1 | 103.6 | 86.5 |
Jul 2021 |
118.5 | 108.4 | 107.8 | 102.5 | 88.5 |
Aug 2021 |
118.8 | 108.1 | 107.6 | 102.3 | 91.3 |
U.S. terms of trade with Japan declined for the second consecutive month, falling 0.3 percent in August following a 0.4-percent drop in July.
U.S. terms of trade with the European Union also decreased in August, falling 0.2 percent, after declining 1.1 percent in July.
In contrast, the indexes for U.S. terms of trade with Canada and Mexico increased in August, rising 3.2 percent and 0.3 percent, respectively.
These data are from the International Price program. To learn more, see "U.S. Import and Export Price Indexes — August 2021." New Measures of Prices for Global Trade discusses terms of trade indexes, which measure the change in the purchasing power of exports relative to imports. Also see more charts on other U.S. import and export prices. Note that import and export price data may be revised in each of the 3 months after original publication.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, U.S. terms of trade with China up 8.0 percent over the year ended August 2021 at https://www.bls.gov/opub/ted/2021/u-s-terms-of-trade-with-china-up-8-0-percent-over-the-year-ended-august-2021.htm (visited October 31, 2024).