May 23, 2025

U.S. Imports Continue to Rise in March

In March 2025, global trade increased by 2.2% compared to the previous month. This brings the growth for the first quarter of 2025 to 2.0% relative to the last quarter of 2024. Notably, U.S. imports continued to rise, increasing by 5.8% compared to February. Following earlier increases this year, U.S. imports in March were approximately 30% higher than in the same month last year. These figures suggest a possible anticipation effect, where U.S. companies imported additional goods in advance of potential tariff increases. This is evident from the monthly CPB World Trade Monitor.
Container boat

The World Trade Monitor data does not specify the exact origins of the increased U.S. imports. However, official U.S. import statistics in value terms (not adjusted for price effects) indicate significant increases in imports from the EU and Switzerland. Taiwan and Vietnam also stand out in this regard. In terms of product categories, there were notable increases in imports of industrial metals, computers and other electronics, and pharmaceutical products. Interestingly, the increase in imports from China appears to be relatively limited based on these figures.

The monthly CPB World Trade Monitor is an instrument with which CPB monitors the development of world trade and is published on behalf of the European Commission. It takes two months before the figures are available. The next CPB World Trade Monitor for the reporting month of April 2025 will be published on June 25th 2025.

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