|1||Misc. mineral or chemical fertilizers||$116.34 M|
|2||Passenger vehicles||$89.51 M|
|3||Sugar and starch residues||$84.79 M|
|4||Motor vehicle parts||$67.52 M|
|6||Gasoline, other fuels||$59.97 M|
|7||Sands, except metal-bearing||$58.26 M|
|8||Railway or tramway freight cars, not self-propelld||$48.44 M|
|10||Acrylic polymers||$43.33 M|
|2||Wood, sawed or chipped, greater than 6 meters thic||$450.66 M|
|4||Potassic fertilizers||$305.91 M|
|5||Chemical wood pulp, not dissolving grade||$241.2 M|
|6||Particle board||$156.74 M|
|7||Acyclic hydrocarbons||$156.57 M|
|8||Rapeseed, colza or mustard oil||$139.46 M|
|9||Seats, excluding barber, dental||$129.13 M|
|10||Gasoline, other fuels||$106.15 M|
International Falls, Minn.’s trade decreases 19.04 percent through June
International Falls, Minn.’s trade with the world fell 19.04 percent, from $7.03 billion to $5.69 billion through the first six months of 2020 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data.
During the same time period, the nation’s total trade was $1.77 trillion, with exports at $687.16 billion and imports at $1.08 trillion. The nation’s total trade decreased 14.28 percent compared to the same period last year. Exports fell 16.57 percent and imports fell 12.75 percent.
International Falls, Minn. ranked No. 61 for total trade among the nation’s roughly 450 airports, seaports and border crossings through June of 2020.
The nation’s top five “ports” — airports, seaports and border crossings — so far this year, by value, are Port of Los Angeles; Port Laredo; Chicago O’Hare International Airport; Port of Newark and John F. Kennedy International Airport.
Through June International Falls, Minn.’s top trade partners were No. 1 Canada, No. 2 China, No. 3 Vietnam, No. 4 South Korea and No. 5 Japan. Through the same period of the previous year, the top trade partners were held by Canada, China, Vietnam, Japan and South Korea, respectively.
Taking a closer look at its leading trade partners:
- Trade with No. 1 Canada fell 20.47 percent to $4.72 billion.
Exports fell 25.19 percent to $1.11 billion. Imports fell 18.9 percent to $3.61 billion.
- Trade with No. 2 China fell 23.81 percent to $370.11 million.
Exports rose 6.71 percent to $143.55 million. Imports fell 35.5 percent to $226.56 million.
- Trade with No. 3 Vietnam rose 0.24 percent to $222.48 million.
Exports fell 33.93 percent to $18.3 million. Imports rose 5.11 percent to $204.19 million.
- Trade with No. 4 South Korea fell 8.73 percent to $74.45 million.
Exports fell 3.29 percent to $51.29 million. Imports fell 18.85 percent to $23.16 million.
- Trade with No. 5 Japan fell 36.26 percent to $63.67 million.
Exports fell 49.62 percent to $47.41 million. Imports rose 180.74 percent to $16.26 million.
International Falls, Minn.’s top five trading partners through June accounted for 95.74 percent of its trade with the world.
International Falls, Minn. had trade surpluses with 29 countries and deficits with 30 through June. That compares with 27 surpluses and 21 deficits for the same period one year earlier. The top three surpluses through June of this year were with Thailand, $45.3 million; Indonesia, $37.27 million; and Japan, $31.14 million. The top three deficits through June of this year were with Canada, $2.5 billion; Vietnam, $185.89 million; and China, $83 million.
Through June its top exports were Misc. mineral or chemical fertilizers; Passenger vehicles; Sugar and starch residues; Motor vehicle parts; and Soybeans, in that order. Those accounted for 27.19 percent of its total outbound trade. The Port’s top imports were Oil; Wood, sawed or chipped, greater than 6 meters thic; Plastics; Potassic fertilizers; and Chemical wood pulp, not dissolving grade, accounting for 52.66 percent of all inbound shipments.
Looking more closely at International Falls, Minn.’s exports:
- Misc. mineral or chemical fertilizers fell 24.92 percent compared to last year to $116.34 million.
- Passenger vehicles fell 43.06 percent compared to last year to $89.51 million.
- Sugar and starch residues rose 13.9 percent compared to last year to $84.79 million.
- Motor vehicle parts fell 14.56 percent compared to last year to $67.52 million.
- Soybeans fell 0.42 percent compared to last year to $62.85 million.
On the import side:
- Oil fell 26.03 percent compared to last year to $740.9 million.
- Wood, sawed or chipped, greater than 6 meters thic fell 10.83 percent compared to last year to $450.66 million.
- Plastics fell 28.59 percent compared to last year to $441.48 million.
- Potassic fertilizers fell 13.46 percent compared to last year to $305.91 million.
- Chemical wood pulp, not dissolving grade fell 32.63 percent compared to last year to $241.2 million.
Last year International Falls, Minn. posted total trade with the world of $14.22 billion. The Port’s deficit was $6 billion. Exports totaled $4.11 billion and imports came to $10.11 billion.