US Exports Hit New Record in March

US exports rose 2.0%, or $6.2 billion, to a record $320.9 billion in March 2026, fueled by a $6.5 billion surge in goods exports. Industrial supplies and materials led the gain, up $5.0 billion, driven by higher energy prices tied to the Iran conflict. Key contributors included crude oil (+$2.8 billion), other petroleum products (+$1.7 billion), and fuel oil (+$1.6 billion), while exports of other precious metals fell $1.6 billion. Food, feed, and beverage exports increased $1.1 billion, boosted by soybeans, while consumer goods exports declined $1.7 billion. Services exports dipped $0.3 billion, with travel down $1.1 billion, partially offset by gains in transport (+$0.2 billion), financial services (+$0.1 billion), and other business services (+$0.1 billion).

US exports climbed 4.2%, or $12.6 billion, to a record $314.8 billion in February 2026, driven by an $11.5 billion increase in goods exports, with nonmonetary gold (+$8.0 billion) and natural gas (+$1.3 billion) leading the gains. Services exports also rose $1.1 billion, supported by growth in travel, business services, financial services, and charges for the use of intellectual property. The export surge coincided with another major shift in US tariff policy. On February 20, the Supreme Court struck down a central pillar of President Trump’s trade agenda, broad global duties under the IEEPA, forcing the administration to impose emergency tariffs under a separate statute. However, this authority expires in July, leaving officials racing to find new legal grounds to maintain protectionist barriers.

Exports in the US jumped 5.5% to a record high of $302.1 billion in January 2026, led by sales of nonmonetary gold, other precious metals, computers, civilian aircraft and computer accessories. In contrast, sales were down for pharmaceutical preparations. The US exported the most to the EU ($34.66 billion), Mexico ($32.85 billion), Canada ($27.2 billion), and China ($8.6 billion).