U.S. Containerized Exports Reach Record High, up 6 Percent in 2011
NEWARK, N.J., Feb. 22, 2012 /PRNewswire/ -- U.S containerized exports in 2011 grew 6 percent over 2010 volumes, advancing to a new record annual total of 11.9 million 20-foot-equivalent units. A year-over-year decline of 0.2 percent in fourth quarter exports matched earlier forecasts by Mario O. Moreno, economist for The Journal of Commerce/PIERS.
This decline to 3,002,088 TEUs was due primarily to losses in fabrics, including raw cotton, down 29 percent; pet and animal feeds, down 12 percent; synthetic resins, and foam waste and scrap, both down 12 percent; and motor vehicles, down 7 percent. Losses in raw cotton and resins were spurred by a sharp deceleration in manufacturing in the Mediterranean, where U.S. containerized exports declined for the second consecutive quarter, to 136,599 TEUs.
Year-over-year exports to Northeast Asia rose 1 percent to 1.3 million TEUs, but this was down from a 12 percent growth in third quarter 2011.
Actual fourth quarter figures confirmed what led me to downgrade my 2012 export forecasts in early December: declining economic activity in Europe will have an adverse impact on U.S. container exports growth. Meanwhile, the dollar will keep the gains against the euro until all European fiscal uncertainties have cleared, Moreno said.
Moreno's prediction of a sharp deceleration in westbound trans-Pacific trade was also confirmed with Q3 growth of 11.4 percent slipping to a 0.8 percent year-over-year increase in Q4.
A full analysis of the JOC/PIERS findings is available online at 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).
This decline to 3,002,088 TEUs was due primarily to losses in fabrics, including raw cotton, down 29 percent; pet and animal feeds, down 12 percent; synthetic resins, and foam waste and scrap, both down 12 percent; and motor vehicles, down 7 percent. Losses in raw cotton and resins were spurred by a sharp deceleration in manufacturing in the Mediterranean, where U.S. containerized exports declined for the second consecutive quarter, to 136,599 TEUs.
Year-over-year exports to Northeast Asia rose 1 percent to 1.3 million TEUs, but this was down from a 12 percent growth in third quarter 2011.
Actual fourth quarter figures confirmed what led me to downgrade my 2012 export forecasts in early December: declining economic activity in Europe will have an adverse impact on U.S. container exports growth. Meanwhile, the dollar will keep the gains against the euro until all European fiscal uncertainties have cleared, Moreno said.
Moreno's prediction of a sharp deceleration in westbound trans-Pacific trade was also confirmed with Q3 growth of 11.4 percent slipping to a 0.8 percent year-over-year increase in Q4.
A full analysis of the JOC/PIERS findings is available online at 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).