U.S. trade with Italy rose to $12.63 billion through February

Italy’s trade with the United States rose to $12.63 billion through the first two months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 9.32 percent above its total trade during the same time period last year. Italy’s exports increased 17.15 percent while imports rose 6.23 percent. The U.S. deficit with Italy was $4.99 billion.

Through February, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Newark; No. 2 John F. Kennedy International Airport; No. 3 Port of Houston; No. 4 Philadelphia International Airport; and No. 5 Port of Virginia. During the same period the previous year, the top five were No. 1 Port of Newark No. 2 John F. Kennedy International Airport No. 3 Port of Houston No. 4 Chicago O’Hare International Airport and No. 5 Port of Virginia. In the current time period, the top five accounted for 43.93 percent of Italy’s U.S. trade.

Among those top five:

• Trade with No. 1 Port of Newark fell 10.27 percent to $1.94 billion.
  Exports rose 57.72 percent to $156.33 million. Imports fell 13.53 percent to $1.78 billion.
• Trade with No. 2 John F. Kennedy International Airport rose 31.77 percent to $1.53 billion.
  Exports rose 40.18 percent to $527.51 million. Imports rose 27.75 percent to $1 billion.
• Trade with No. 3 Port of Houston rose 10.6 percent to $826.49 million.
  Exports rose 84.85 percent to $362.06 million. Imports fell 15.77 percent to $464.43 million.
• Trade with No. 4 Philadelphia International Airport rose 179.98 percent to $675.63 million.
  Exports fell 50.39 percent to $78.04 million. Imports rose 611.44 percent to $597.58 million.
• Trade with No. 5 Port of Virginia rose 18.56 percent to $575.17 million.
  Exports rose 34.07 percent to $114.37 million. Imports rose 15.25 percent to $460.8 million.

Italy ranked No. 12 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 11.

Meanwhile, total U.S. trade with the world increased to $650.55 billion, up 1.11 percent compared to the same period last year. The nation’s exports climbed 2.61 percent to $260.05 billion; imports climbed 0.14 percent to $390.5 billion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $130.45 billion, down compared to the same period of last year when the deficit was $136.53 billion.

The top five U.S. exports to Italy by value through February were the categories of Plasma, vaccines, blood; Oil; Insulin, hormones and steroids; Civilian aircraft, parts; and Unwrought platinum in various forms, respectively. They accounted for 35.14 percent of total exports to Italy.

The value of the top five categories of U.S. imports from Italy –– Medicines in individual dosages; Motor vehicles for transporting people; Defense-related aircraft, parts; Value added to a returned import; and Wine –– accounted for 26.36 percent of all inbound shipments.

Looking more closely at U.S. exports to Italy:

• Plasma, vaccines, blood rose 29.05 percent compared to last year to $444.36 million.
• Oil rose 33.61 percent compared to last year to $428.99 million.
• Insulin, hormones and steroids rose 125.2 percent compared to last year to $178.91 million.
• Civilian aircraft, parts rose 25.16 percent compared to last year to $171.8 million.
• Unwrought platinum in various forms rose 47.1 percent compared to last year to $118.63 million.

Looking more closely at U.S. imports from Italy:

• Medicines in individual dosages rose 37.61 percent compared to last year to $977.97 million.
• Motor vehicles for transporting people fell 38.59 percent compared to last year to $376.25 million.
• Defense-related aircraft, parts rose 27.42 percent compared to last year to $365.44 million.
• Value added to a returned import fell 24.02 percent compared to last year to $325.37 million.
• Wine fell 7.2 percent compared to last year to $276.95 million.

In the latest annual figures available, Italy recorded $68.29 billion in trade with the United States. At year’s end, its were New York City; Houston; Atlanta/Savannah; Chicago; and Los Angeles. Total U.S. exports to Italy were $ 18.32 billion and imports from Italy were $49.96 billion. The U.S. deficit with Italy was $31.64 billion.