|2||Frozen beef||$298.53 M|
|3||Passenger vehicles||$296.57 M|
|4||Motor vehicle parts||$292.12 M|
|5||Prepared foods, beverages||$257.56 M|
|6||Scrap iron, steel||$236.06 M|
|8||Civilian aircraft, parts||$201.92 M|
|10||Almonds, walnuts, pistachios, hazelnuts, etc.||$179.52 M|
|1||Passenger vehicles||$3.1 B|
|2||Motor vehicle parts||$2.52 B|
|3||Printers, all types, parts||$2.18 B|
|5||Cell phones, related equipment||$1.81 B|
|6||Furniture, parts||$1.75 B|
|7||TVs, computer monitors||$1.69 B|
|8||Athletic, other textile shoes||$1.44 B|
|9||Seats, excluding barber, dental||$1.24 B|
|10||Leather shoes||$1.22 B|
Port of Los Angeles’s trade decreases 17.81 percent through May
Port of Los Angeles’s trade with the world fell 17.81 percent, from $113.43 billion to $93.23 billion through the first five 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 $1.48 trillion, with exports at $582.11 billion and imports at $898.44 billion. The nation’s total trade decreased 13.61 percent compared to the same period last year. Exports fell 15.09 percent and imports fell 12.63 percent.
Port of Los Angeles ranked No. 1 for total trade among the nation’s roughly 450 airports, seaports and border crossings through May 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 May Port of Los Angeles’s top trade partners were No. 1 China, No. 2 Japan, No. 3 Vietnam, No. 4 Taiwan and No. 5 South Korea. Through the same period of the previous year, the top trade partners were held by China, Japan, Vietnam, South Korea and Taiwan, respectively.
Taking a closer look at its leading trade partners:
- Trade with No. 1 China fell 31.03 percent to $35.27 billion.
Exports fell 94.75 percent to $2.52 billion. Imports rose 969.03 percent to $32.74 billion.
- Trade with No. 2 Japan rose 1.01 percent to $15.08 billion.
Exports fell 76.65 percent to $2.84 billion. Imports rose 345.69 percent to $12.23 billion.
- Trade with No. 3 Vietnam fell 8.04 percent to $8.09 billion.
Exports fell 93.44 percent to $531.83 million. Imports rose 993.52 percent to $7.56 billion.
- Trade with No. 4 Taiwan rose 6.62 percent to $6.22 billion.
Exports fell 84.81 percent to $779.76 million. Imports rose 673.45 percent to $5.44 billion.
- Trade with No. 5 South Korea fell 18.87 percent to $5.4 billion.
Exports fell 80.96 percent to $975.74 million. Imports rose 188.16 percent to $4.43 billion.
Port of Los Angeles’s top five trading partners through May accounted for 75.15 percent of its trade with the world.
Port of Los Angeles had trade surpluses with 58 countries and deficits with 136 through May. That compares with 134 surpluses and 71 deficits for the same period one year earlier. The top three surpluses through May of this year were with Hong Kong, $304.47 million; El Salvador, $53.12 million; and United Arab Emirates, $48.57 million. The top three deficits through May of this year were with China, $30.22 billion; Japan, $9.39 billion; and Vietnam, $7.02 billion.
Through May its top exports were Cotton; Frozen beef; Passenger vehicles; Motor vehicle parts; and Prepared foods, beverages, in that order. Those accounted for 16.13 percent of its total outbound trade. The Port’s top imports were Passenger vehicles; Motor vehicle parts; Printers, all types, parts; Computers; and Cell phones, related equipment, accounting for 14.25 percent of all inbound shipments.
Looking more closely at Port of Los Angeles’s exports:
- Cotton fell 32.07 percent compared to last year to $720.13 million.
- Frozen beef fell 44.38 percent compared to last year to $298.53 million.
- Passenger vehicles fell 18.88 percent compared to last year to $296.57 million.
- Motor vehicle parts rose 6.61 percent compared to last year to $292.12 million.
- Prepared foods, beverages fell 18.82 percent compared to last year to $257.56 million.
On the import side:
- Passenger vehicles fell 25.18 percent compared to last year to $3.1 billion.
- Motor vehicle parts fell 21.69 percent compared to last year to $2.52 billion.
- Printers, all types, parts fell 18.63 percent compared to last year to $2.18 billion.
- Computers fell 31.71 percent compared to last year to $2.03 billion.
- Cell phones, related equipment fell 20.17 percent compared to last year to $1.81 billion.
Last year Port of Los Angeles posted total trade with the world of $278.21 billion. The Port’s deficit was $214.12 billion. Exports totaled $32.04 billion and imports came to $246.17 billion.