U.S. containerized exports in July rose 4.8 percent from a year earlier, boosted by double-digit gains in wastepaper, scrap metal and logs and lumber, PIERS data show.
The increase followed a year-over-year decline of 1.7 percent in June. July’s volume was up 7.6 percent from the previous month. Through the first seven months of 2011, containerized exports were up 8.3 percent.
Journal of Commerce Economist Mario O. Moreno forecasts a 6 percent increase for the full year.
July exports were led by increases of 13 percent, or 16,710 20-foot-equivalent units, in waste paper; 15 percent (an increase of 6,711 TEUs) in scrap metal and 31 percent (6,305) in logs and lumber.
Other commodities showing increases included grains and flour, poultry, meat and motor vehicles. Raw cotton exports declined for the third straight month as warehouse stocks continued to decline following the surge in shipments during the winter.
Northeast Asia was the destination for 44 percent of U.S. containerized exports in July. Exports to that region rose 7 percent year-over-year. Exports to China, which accounted for nearly half of Northeast Asia volume, rose 9 percent amid rising demand for wastepaper, lumber and wood pulp.
Exports to Northern Europe, which accounted for just under 12 percent of the total, rose 6 percent. Exports to the Caribbean declined 12 percent. Shipments to Southeast Asia fell 4 percent.