Low Value’s trade increases 4.09 percent through August
Low Value’s trade with the world rose 4.09 percent, from $12.01 billion to $12.51 billion through the first eight months of 2019 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 $2.77 trillion, with exports at $1.1 trillion and imports at $1.67 trillion. The nation’s total trade decreased 0.32 percent compared to the same period last year. Exports fell 0.71 percent and imports fell 0.07 percent.
Low Value ranked No. 48 for total trade among the nation’s roughly 450 airports, seaports and border crossings through August of 2019.
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 August Low Value’s top trade partners were No. 1 China, No. 2 Canada, No. 3 Mexico, No. 4 Germany and No. 5 Japan. Through the same period of the previous year, the top trade partners were held by China, Mexico, Canada, Germany and Japan, respectively.
Taking a closer look at its leading trade partners:
- Trade with No. 1 China rose 10.42 percent to $2.52 billion.
There were no exports. Imports rose 10.42 percent to $2.52 billion.
- Trade with No. 2 Canada fell 0.03 percent to $1.78 billion.
There were no exports. Imports fell 0.03 percent to $1.78 billion.
- Trade with No. 3 Mexico fell 1.21 percent to $1.77 billion.
There were no exports. Imports fell 1.21 percent to $1.77 billion.
- Trade with No. 4 Germany rose 2.34 percent to $1.02 billion.
There were no exports. Imports rose 2.34 percent to $1.02 billion.
- Trade with No. 5 Japan rose 2.23 percent to $891.46 million.
There were no exports. Imports rose 2.23 percent to $891.46 million.
Low Value’s top five trading partners through August accounted for 63.85 percent of its trade with the world.
Low Value had trade surpluses with zero countries and deficits with 229 through August. That compares with zero surpluses and 229 deficits for the same period one year earlier. The top three surpluses through August of this year were with Heard and McDonald Islands, $170; Western Sahara, $1,008; and South Sudan, $1,835. The top three deficits through August of this year were with China, $2.52 billion; Canada, $1.78 billion; and Mexico, $1.77 billion.
Through August its top exports only exports by value August was , in that order. Those accounted for 0 percent of its total outbound trade. The Port’s top imports only imports August was , accounting for 0 percent of all inbound shipments.
Looking more closely at Low Value’s exports:
- Salvage totaled $0. The previous year, there were no exports in this category.
On the import side:
- Salvage rose 4.09 percent compared to last year to $13 billion.
Last year Low Value posted total trade with the world of $18.25 billion. The Port’s deficit was $18.25 billion. At the end of the year, the port’s top five trade partners were China, Canada, Mexico, Germany and Japan. Exports totaled $0 and imports came to $18.25 billion.