Low Value’s trade increases 4.59 percent through October
Low Value’s trade with the world rose 4.59 percent, from $14.56 billion to $15.23 billion through the first 10 months of 2018 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 $3.51 trillion, with exports at $1.39 trillion and imports at $2.12 trillion. The nation’s total trade increased 9.25 percent compared to the same period last year. Exports rose 8.95 percent and imports rose 9.44 percent.
Low Value ranked No. 51 for total trade among the nation’s roughly 450 airports, seaports and border crossings through October of 2018. During the same period of 2017 it ranked No. 46. It finished No. 46 in the last full year.
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; John F. Kennedy International Airport and Port of Newark.
Through October Low Value’s top trade parters 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, Canada, Mexico, Germany and Japan, respectively.
Taking a closer look at its leading trade partners:
- Trade with No. 1 China rose 7.9 percent to $2.96 billion.
There were no exports. Imports rose 7.9 percent to $2.96 billion.
- Trade with No. 2 Canada fell 1.22 percent to $2.27 billion.
There were no exports. Imports fell 1.22 percent to $2.27 billion.
- Trade with No. 3 Mexico rose 6.2 percent to $2.23 billion.
There were no exports. Imports rose 6.2 percent to $2.23 billion.
- Trade with No. 4 Germany rose 3.26 percent to $1.25 billion.
There were no exports. Imports rose 3.26 percent to $1.25 billion.
- Trade with No. 5 Japan rose 7.13 percent to $1.1 billion.
There were no exports. Imports rose 7.13 percent to $1.1 billion.
Low Value’s top five trading partners through October accounted for 64.41 percent of its trade with the world.
Low Value had trade surpluses with zero countries and deficits with 229 through October. That compares with zero surpluses and 229 deficits for the same period one year earlier. The top three surpluses through October of this year were with Gaza Strip Administred By Israel, $103; Wallis And Futuna, $607; and Western Sahara, $1,013. The top three deficits through October of this year were with China, $2.96 billion; Canada, $2.27 billion; and Mexico, $2.23 billion.
Through October it’s top exports only exports by value October was , in that order. Those accounted for 0 percent of its total outbound trade. The Port’s top imports only imports October 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 4.59 percent compared to last year to $15 billion.
Last year Low Value posted total trade with the world of $16.75 billion. The Port’s deficit was $16.75 billion . At the end of the year, the port’s top five trade partners were Canada, Germany, Iceland, Norway and The Netherlands. Exports totaled $0 and imports came to $16.75 billion.