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Norfolk

January – December 2017

Norfolk Top Trading Partners

Total trade: $61.16 billion

RankCountryTotal YTD
1China $13,471,894,813
2Germany $3,899,953,877
3Japan $3,533,153,378
4Brazil $3,401,506,897
5India $2,520,485,336
6United Kingdom $2,192,232,777
7Belgium $2,101,996,892
8Italy $2,059,985,776
9The Netherlands $1,723,332,680
10Vietnam $1,705,549,618

January – December 2017

Top U.S. Trading Partners

Total U.S. trade: $3.89 trillion

RankCountryTotal YTD
1China $635,966,594,548
2Canada $582,446,910,813
3Mexico $557,033,857,620
4Japan $204,239,482,434
5Germany $171,237,510,586
6South Korea $119,440,710,726
7United Kingdom $109,403,656,910
8France $82,469,431,746
9India $74,331,747,932
10Italy $68,286,326,460

Norfolk’s trade increases 2.24 percent through December

Norfolk’s trade with the world rose 2.24 percent, from $59.83 billion to $61.16 billion in 2017 when compared to the same period the previous year, according to a WorldCity analysis of latest U.S. Census Bureau data. Norfolk’s exports increased 4.33 percent while imports rose 0.63 percent. Norfolk’s deficit was $6.93 billion.

Through December the district’s top five trade partners were No. 1 China, No. 2 Germany, No. 3 Japan, No. 4 Brazil and No. 5 India compared to the same period last year when the top five were No. 1 China, No. 2 Germany, No. 3 Japan, No. 4 United Kingdom and No. 5 India, respectively.

Taking a closer look at the leading trade partners with Norfolk:

  • Trade with No. 1 China rose 5.35 percent to $13.47 billion.
    Exports rose 21.37 percent to $3.07 billion. Imports rose 1.41 percent to $10.41 billion.
  • Trade with No. 2 Germany fell 1.69 percent to $3.9 billion.
    Exports fell 8.92 percent to $1.51 billion. Imports rose 3.53 percent to $2.39 billion.
  • Trade with No. 3 Japan rose 3.46 percent to $3.53 billion.
    Exports fell 1.74 percent to $1.02 billion. Imports rose 5.73 percent to $2.51 billion.
  • Trade with No. 4 Brazil rose 59.62 percent to $3.4 billion.
    Exports rose 114.4 percent to $2.23 billion. Imports rose 7.23 percent to $1.17 billion.
  • Trade with No. 5 India fell 5.19 percent to $2.52 billion.
    Exports fell 7.62 percent to $816.96 million. Imports fell 3.98 percent to $1.7 billion.

Norfolk’s top five trading partners through December accounted for 43.86 percent of its trade with the world. The U.S. average for the same time period was 55.3 percent.

Norfolk had trade surpluses with 136 countries and deficits with 73 through December. That compares with 142 surpluses and 67 deficits for the same period one year earlier. The top three surpluses through December of this year were with Belgium, $1.79 billion; Brazil, $1.07 billion; and United Kingdom, $954.99 million. The top three deficits through December of this year were with China, $7.34 billion; Japan, $1.49 billion; and Vietnam, $1.14 billion.

January – December 2017

Top Exports from Norfolk

Total Exports: $27.12 billion

RankCommodityTotal YTD
1Plasma, vaccines, blood $1,736,678,468
2Motor vehicle parts $1,426,374,015
3Soybeans $937,268,388
4Raw tobacco $789,527,620
5Chemical wood pulp, not dissolving grade $626,844,318
6Wood, sawed or chipped, greater than 6 meters thic $595,755,426
7Nonelectric rail locomotives, tenders $552,413,462
8Medical instruments for surgeons, dentists, vets $493,798,950
9Polyamides, primary forms $372,840,343
10Heterocyclic chemical compounds $369,361,651

January – December 2017

Top Imports to Norfolk

Total Imports: $34.05 billion

RankCommodityTotal YTD
1Printers, all types, parts $2,162,436,590
2Furniture, parts $1,168,057,330
3Motor vehicle parts $1,147,419,429
4Toys, children’s bicycles, games $815,764,434
5Motor vehicles for transporting people $780,232,064
6Medicines in individual dosages $779,521,959
7Seats, excluding barber, dental $670,849,390
8Engine parts $546,199,864
9Raw tobacco $498,283,315
10Photo-sensitive semi-conductors, parts $458,790,914

Meanwhile, total U.S. trade with the world increased to $3.89 trillion, up 6.77 percent compared to the same period last year. The nation’s exports climbed 6.4 percent to $1.55 trillion; imports climbed 7.02 percent to $2.34 trillion. The nation’s top five customs districts so far this year, by value, are Los Angeles; New York City; Laredo; Detroit and Chicago. The overall trade deficit was $796.17 billion, up compared to the same period of last year when the deficit was $735.46 billion.

Norfolk’s top five exports by value through December were Plasma, vaccines, blood; Motor vehicle parts; Soybeans; Raw tobacco; and Chemical wood pulp, not dissolving grade, in that order. They accounted for 20.34 percent of total exports from Norfolk.

Norfolk’s top five imports by value through December were Printers, all types, parts; Furniture, parts; Motor vehicle parts; Toys, children’s bicycles, games; and Motor vehicles for transporting people. They accounted for 17.84 percent of all inbound shipments.

Looking more closely at Norfolk’s exports:

  • Plasma, vaccines, blood rose 10.26 percent compared to last year to $1.74 billion.
  • Motor vehicle parts rose 114.86 percent compared to last year to $1.43 billion.
  • Soybeans fell 1.7 percent compared to last year to $937.27 million.
  • Raw tobacco fell 4.09 percent compared to last year to $789.53 million.
  • Chemical wood pulp, not dissolving grade rose 2.62 percent compared to last year to $626.84 million.

On the import side:

  • Printers, all types, parts rose 4.33 percent compared to last year to $2.16 billion.
  • Furniture, parts rose 8.36 percent compared to last year to $1.17 billion.
  • Motor vehicle parts fell 10.7 percent compared to last year to $1.15 billion.
  • Toys, children’s bicycles, games fell 11.18 percent compared to last year to $815.76 million.
  • Motor vehicles for transporting people rose 35.01 percent compared to last year to $780.23 million.

Last year the Norfolk customs district posted total trade with the world of $59.83 billion. The district’s deficit was $7.84 billion. At the end of the year, the custom’s districts top five trading partners were China, Germany, Japan, United Kingdom and India. Exports totaled $25.99 billion and imports came to $33.83 billion.

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