US Ocean Exports Reach Three-Year High
NEWARK, N.J., May 23 /PRNewswire/ -- The volume of U.S. exports of containerized goods reached the highest point in nearly three years in the first quarter, growing 11.6 percent over last year and reaching one of the highest points ever, according to an analysis by The Journal of Commerce/PIERS.
Exports of fabrics led the growth, expanding 66 percent over last year’s first quarter, and both lumber shipments and auto parts increased 33 percent, according to ocean shipping data that signaled a strong rebound in the U.S. export economy.
The 3,006,592 containers of exports, measured in 20-foot equivalent units (TEUs), was the most counted since the second quarter of 2008, which was the most measured in any quarter since PIERS began tracking U.S. containerized imports and exports in 1987. The count was also the largest ever during any first quarter.
“The first quarter gains are a reflection of a continuing expansion of global manufacturing and a tumbling U.S. dollar,” said Mario Moreno, economist for The Journal of Commerce/PIERS.
The value of the dollar fell 5 percent against a basket of currencies around the world between the beginning of 2011 and May 6, Moreno noted.
On a country level, China remained the largest market for U.S. exports, followed by Japan. Exports to China grew 14 percent, and the increase of 77,030 TEUs was the largest to any single country. Exports to Japan increased 13 percent.
The largest percentage gain in U.S. exports was in goods shipped to Brazil, which grew 29 percent over last year’s first quarter.
To view daily news visit www.joc.com.
To become a member of The Journal of Commerce click here. JOC members have access to our weekly print and digital magazine and Web site, as well as a 10 percent discount on all JOC events and trade shows, UBM Global Trade Directories and select PIERS products. Authoritative editorial content in the form of daily news, weekly analysis and regular features ensure our members have the information and data necessary to understand the issues facing trucking, rail and maritime transportation. Members enjoy access to By the Numbers, an exclusive weekly compilation of key industry statistics that provides detailed views of current market trends across all modes. Regular market intelligence reports -- utilizing PIERS trade data -- include Top 100 Imports and Exporters, quarterly Top 40 Container lines, Trans-Pacific and Trans-Atlantic Maritime Forecasts and Top Container Ports and Terminals. Market-sector supplements, including Breakbulk, Cool Cargoes, 3PL, JOC Guide to Trucking and others, ensure all modes are comprehensively covered.
About PIERS
PIERS is the most comprehensive database of U.S. waterborne trade activity in the world providing information services to thousands of subscribers globally. Launched more than 35 years ago, PIERS was the first venture in digital global trade intelligence and quickly became the industry standard for accuracy, reliability and insight. Our unique infrastructure and proprietary technology allow us to not only publish import data but also complete coverage of U.S. export transactional data. PIERS is a division of UBM Global Trade, and a sister company of The Journal of Commerce.
For more information, visit www.piers.com, or call 800-952-3839 (+1-973-776-8660).
About UBM Global Trade
UBM Global Trade is the leading provider of proprietary data, news, business intelligence and analytical content supporting commercial maritime, rail, trucking, warehousing and logistics industries worldwide. The company's portfolio of more than 100 online, print and interactive workflow business solutions includes The Journal of Commerce, Breakbulk, RailResource, PIERS and an array of international trade and transportation databases and directories. UBM Global Trade, a subsidiary of UBM plc, is headquartered in Newark, NJ, with offices throughout the United States.
For more information, explore www.ubmglobaltrade.com or call 800-223-0243 (+1-973-848-7250 outside the U.S. or Canada).
Exports of fabrics led the growth, expanding 66 percent over last year’s first quarter, and both lumber shipments and auto parts increased 33 percent, according to ocean shipping data that signaled a strong rebound in the U.S. export economy.
The 3,006,592 containers of exports, measured in 20-foot equivalent units (TEUs), was the most counted since the second quarter of 2008, which was the most measured in any quarter since PIERS began tracking U.S. containerized imports and exports in 1987. The count was also the largest ever during any first quarter.
“The first quarter gains are a reflection of a continuing expansion of global manufacturing and a tumbling U.S. dollar,” said Mario Moreno, economist for The Journal of Commerce/PIERS.
The value of the dollar fell 5 percent against a basket of currencies around the world between the beginning of 2011 and May 6, Moreno noted.
On a country level, China remained the largest market for U.S. exports, followed by Japan. Exports to China grew 14 percent, and the increase of 77,030 TEUs was the largest to any single country. Exports to Japan increased 13 percent.
The largest percentage gain in U.S. exports was in goods shipped to Brazil, which grew 29 percent over last year’s first quarter.
To view daily news visit www.joc.com.
To become a member of The Journal of Commerce click here. JOC members have access to our weekly print and digital magazine and Web site, as well as a 10 percent discount on all JOC events and trade shows, UBM Global Trade Directories and select PIERS products. Authoritative editorial content in the form of daily news, weekly analysis and regular features ensure our members have the information and data necessary to understand the issues facing trucking, rail and maritime transportation. Members enjoy access to By the Numbers, an exclusive weekly compilation of key industry statistics that provides detailed views of current market trends across all modes. Regular market intelligence reports -- utilizing PIERS trade data -- include Top 100 Imports and Exporters, quarterly Top 40 Container lines, Trans-Pacific and Trans-Atlantic Maritime Forecasts and Top Container Ports and Terminals. Market-sector supplements, including Breakbulk, Cool Cargoes, 3PL, JOC Guide to Trucking and others, ensure all modes are comprehensively covered.
About PIERS
PIERS is the most comprehensive database of U.S. waterborne trade activity in the world providing information services to thousands of subscribers globally. Launched more than 35 years ago, PIERS was the first venture in digital global trade intelligence and quickly became the industry standard for accuracy, reliability and insight. Our unique infrastructure and proprietary technology allow us to not only publish import data but also complete coverage of U.S. export transactional data. PIERS is a division of UBM Global Trade, and a sister company of The Journal of Commerce.
For more information, visit www.piers.com, or call 800-952-3839 (+1-973-776-8660).
About UBM Global Trade
UBM Global Trade is the leading provider of proprietary data, news, business intelligence and analytical content supporting commercial maritime, rail, trucking, warehousing and logistics industries worldwide. The company's portfolio of more than 100 online, print and interactive workflow business solutions includes The Journal of Commerce, Breakbulk, RailResource, PIERS and an array of international trade and transportation databases and directories. UBM Global Trade, a subsidiary of UBM plc, is headquartered in Newark, NJ, with offices throughout the United States.
For more information, explore www.ubmglobaltrade.com or call 800-223-0243 (+1-973-848-7250 outside the U.S. or Canada).