International Trade News
The top 20 Chinese ports had a throughput of 15.5 million 20-foot containers in January, with Shanghai and Shenzhen terminals handling almost half of them, according to Shanghai Shipping Exchange data.
Trade between China and Iran has been growing at almost 40 percent a year since 2012, driven by rapidly rising consumer demand, according to a Seabury Group study.
The five largest U.S. border crossings by truck increased truck volume 4 percent in 2014, with Laredo, the largest truck crossing point, processing 5.5 percent more trucks than in 2014.
The U.S. and Canada cleared a big hurdle to building a second span over the Detroit River, a critical crossing and sometime choke-point for cross-border trade.
Japan’s energetic farm-export drive is bearing fruit, as the country’s overseas shipments of agricultural, fishery and forestry products mushroomed 11.1 percent in 2014 from the previous year to a record high of 611.7 billion yen (US $5.14 billion).
After three years of negotiations, Japan and Mongolia have signed a free trade agreement, paving the way for the trade pact to take effect later this year or early in 2016.
West Coast ports always seem to hog the spotlight and much of the glory, but it’s the East Coast ports that are growing faster and gaining market share.
An expected spike in China’s factory production in January in the buildup to a late Chinese New Year failed to materialize, with the official purchasing manager’s index (PMI) falling to a level not seen since 2012.
U.S. exports of several agricultural products including pork, beef, poultry, apples and forage products are shrinking, and some export opportunities could be lost permanently because of dockworker slowdowns and the gridlock that has emerged at West Coast ports, the Agriculture Transportation Coalition reports.
In a sea change in Asia-Pacific trade among the world’s three largest economies, the United States retained its status as Japan’s biggest export market for the second year in a row in 2014, edging out China.