U.S. containerized exports jumped 9.1 percent year-over-year in October, to 1,070,902 20-foot-equivalent units, according to preliminary figures from PIERS, the Data Division of JOC Group. October containerized exports also rose 11.4 percent from September.
This was the third highest monthly volume in 2013 so far, only slightly less than the levels recorded in March and August. Volumes have risen year-over-year in eight of the past 10 months. October’s jump is tied with August for largest yearly jump in 2013. For the first ten months of 2013, exports were up 2.6 percent year-over-year; October exports climbed 10.3 percent from the containerized volume seen in January.
“I have upgraded the exports forecast for the fourth quarter, partly because of the recent pickup in global manufacturing activity,” Journal of Commerce economist Mario Moreno said in the November report of JOC Insights. “Total U.S. exports via ocean container are now forecast to expand 1.9 percent in 2013, almost double the rate I predicted a few months ago, and by 2 percent in 2014. Downside risks to the export forecasts remain as global growth is still stubbornly soft , with the eurozone still battling major fiscal issues. “
Among October’s top 25 destination countries, Turkey saw the steepest growth in exports from the U.S. in October: shipments rose 51 percent to 17,027 TEUs. Shipments to Italy totaled 13,365 TEUs in the month, up 40 percent year-over-year. Exports to the Netherlands climbed 33 percent, to 19,554 TEUs. Shipments to Hong Kong fell the most, down 20 percent year-over-year to 29,781 TEUs. Volume to Thailand declined 16 percent to 11,294 TEUs, and the United Arab Emirates followed with a loss of 7 percent to 20,806 TEUs.