U.S. imports have risen for the 15th consecutive month, according to S&P Global.
The United States imports for November totalled 2.72 million TEUs (Twenty-Foot Equivalent Units), representing a significant 12.3% increase compared to last year. This marks the 15th consecutive month of annual growth in U.S.-bound imports, reflecting the continued strength in demand despite economic uncertainties. Still, when compared sequentially to October, imports experienced a slight dip of 2.5%, indicating a seasonal adjustment as peak shipping periods wind down.
However, on a year-to-date basis through November, total imports reached 29.59 million TEUs, reflecting an 11.9% increase over the previous year. This figure is closely aligned with the 30.39 million TEUs recorded during the same period in 2021. This demonstrates the sustained resilience of U.S. import volumes throughout the year.
S&P reported a significant 14.1% growth in consumer durables and semi-durables imports, primarily driven by strong retail performance during Black Friday and Cyber Monday. This increase reflects heightened consumer demand during holiday shopping, with retailers restocking to meet the surge in purchases. Among product categories, apparel imports saw the sharpest growth, jumping 20.4%, underscoring the season’s emphasis on fashion and gift items. In contrast, imports of general consumer products grew at a more modest rate of 5.1%.
The leisure product imports rose by 13.7%, fueled by increased demand for toys and festive decorations, a staple of holiday spending. This category’s growth highlights the seasonal shift in consumer preferences toward entertainment and holiday-specific items.
The automotive sector showed marginal growth, with imports increasing by 0.7%, reflecting a stable but subdued performance. Capital goods imports increased by 2.7%, indicating continued investment in industrial and commercial equipment, albeit at a slower pace. Meanwhile, imports of electrical equipment fell by 8.9%, marking a decline compared to last year, but they remain 34.7% higher than pre-pandemic levels in 2019, signalling long-term growth in this sector.
IT imports demonstrated strong performance, rising 12.9% annually and 7.0% compared to 2019. This growth reflects sustained demand for technology products, driven by ongoing digital transformation trends and consumer interest in electronics. The data showcases a dynamic import landscape shaped by seasonal trends and broader economic factors.
