Overview: In December 2020 Lancaster, MN exported $6.95k and imported $24.5k, resulting in a negative trade balance of $17.6k. Between December 2019 and December 2020 the exports of Lancaster, MN have increased by $3.56k (105%) from $3.39k to $6.95k, while imports increased by $4.81k (24.4%) from $19.7k to $24.5k.
Trade: In December 2020, the top exports of Lancaster, MN were Crude Petroleum ($4.06B), Refined Petroleum ($3.39B), Petroleum Gas ($2.86B), Commodities not elsewhere specified ($2.51B), and Soybeans ($2.1B). In December 2020 the top imports of Lancaster, MN were Computers ($3.02B), Cars ($2.77B), Cars ($2.56B), Telephones ($2.28B), and Cars ($1.82B).
Destinations: In December 2020, Lancaster, MN exported mostly to N/A, and imported mostly from Canada ($24.5k).
Growth: In December 2020, the increase in Lancaster, MN's year-by-year exports was explained primarily by an increase in exports to China ($1.43B or 358%), China ($1.11B or 170%), and China ($656M or 116%), and product exports increase in Soybeans ($1B or 90.9%), Petroleum Gas ($936M or 48.6%), and Platinum ($742M or 188%). In January 2021, the increase in Lancaster, MN's year-by-year imports was explained primarily by an increase in imports from China ($1.85B or 59%), China ($1.79B or 20.1%), and Switzerland ($851M or 229%), and product imports increase in Computers ($1.32B or 78.1%), Other Precious Metal Products ($851M or 2.19k%), and Computers ($792M or 126%).