Low Value’s trade increases 5.97 percent through February
Low Value’s trade with the world rose 5.97 percent, from $2.77 billion to $2.93 billion through the first two 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 $650.55 billion, with exports at $260.05 billion and imports at $390.5 billion. The nation’s total trade increased 1.11 percent compared to the same period last year. Exports rose 2.61 percent and imports rose 0.14 percent.
Low Value ranked No. 50 for total trade among the nation’s roughly 450 airports, seaports and border crossings through February 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; Port of Newark; John F. Kennedy International Airport and Chicago O’Hare International Airport.
Through February 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, Mexico, Canada, Germany and Japan, respectively.
Taking a closer look at its leading trade partners:
- Trade with No. 1 China rose 15.2 percent to $593.46 million.
There were no exports. Imports rose 15.2 percent to $593.46 million.
- Trade with No. 2 Canada rose 3.3 percent to $422.27 million.
There were no exports. Imports rose 3.3 percent to $422.27 million.
- Trade with No. 3 Mexico fell 9.28 percent to $422.16 million.
There were no exports. Imports fell 9.28 percent to $422.16 million.
- Trade with No. 4 Germany rose 5.08 percent to $236.21 million.
There were no exports. Imports rose 5.08 percent to $236.21 million.
- Trade with No. 5 Japan rose 5.95 percent to $211.24 million.
There were no exports. Imports rose 5.95 percent to $211.24 million.
Low Value’s top five trading partners through February accounted for 64.26 percent of its trade with the world.
Low Value had trade surpluses with zero countries and deficits with 225 through February. That compares with zero surpluses and 226 deficits for the same period one year earlier. The top three surpluses through February of this year were with Norfolk Island, $0; St Pierre and Miquelon, $0; and Western Sahara, $0. The top three deficits through February of this year were with China, $593.46 million; Canada, $422.27 million; and Mexico, $422.16 million.
Through February it’s top exports only exports by value February was , in that order. Those accounted for 0 percent of its total outbound trade. The Port’s top imports only imports February 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 5.97 percent compared to last year to $3 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, The Netherlands, Iceland, Germany and Norway. Exports totaled $0 and imports came to $16.75 billion.