|2||Parts for heavy machinery||$23.21 M|
|3||Misc. iron or steel structures and parts||$15.21 M|
|4||Returned exports, without change||$9.97 M|
|5||Pumps for dispensing liquids||$9.2 M|
|6||Chain & Parts, of Iron or Steel 7315||$8.18 M|
|7||Miscellaneous machines, parts||$7.18 M|
|8||Meteorological, hydraulic and survey equipment||$6.62 M|
|9||Taps, cocks and valves for pipes, tanks||$5.12 M|
|10||Misc. iron and steel articles||$4.61 M|
|2||Returned exports, without change||$34.25 M|
|3||Printers, all types, parts||$5.81 M|
|4||Seamless iron tubes and pipes||$2.13 M|
|5||Misc. knit fabrics||$2.12 M|
|6||Containers for transportation||$2.11 M|
|7||Parts for heavy machinery||$2.1 M|
|8||Pulley, hoists, winches||$1.47 M|
|9||Seats, excluding barber, dental||$1.37 M|
|10||Wires, ropes, stranded||$1.22 M|
Port of Morgan City, La.’s trade decreases 26.63 percent through May
Port of Morgan City, La.’s trade with the world fell 26.63 percent, from $2.71 billion to $1.99 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 Morgan City, La. ranked No. 90 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 Morgan City, La.’s top trade partners were No. 1 South Korea, No. 2 India, No. 3 China, No. 4 Saudi Arabia and No. 5 Canada. Through the same period of the previous year, the top trade partners were held by Iraq, Kuwait, Mexico, South Korea and India, respectively.
Taking a closer look at its leading trade partners:
- Trade with No. 1 South Korea rose 14.08 percent to $397.11 million.
Exports rose 329708 percent to $396.82 million. Imports fell 99.91 percent to $296,005.
- Trade with No. 2 India rose 74.37 percent to $371.24 million.
Exports rose 152083 percent to $370.95 million. Imports fell 99.86 percent to $295,185.
- Trade with No. 3 China rose 54.23 percent to $295.75 million.
Exports rose 1205.95 percent to $282.87 million. Imports fell 92.43 percent to $12.88 million.
- Trade with No. 4 Saudi Arabia rose 74.87 percent to $185.44 million.
There were no exports. Imports totaled $185.44 million.
- Trade with No. 5 Canada rose 134.35 percent to $132.81 million.
Exports fell 100 percent to $2,800. Imports rose 442313 percent to $132.81 million.
Port of Morgan City, La.’s top five trading partners through May accounted for 69.64 percent of its trade with the world.
Port of Morgan City, La. had trade surpluses with 22 countries and deficits with 27 through May. That compares with 34 surpluses and 24 deficits for the same period one year earlier. The top three surpluses through May of this year were with South Korea, $396.52 million; India, $370.65 million; and China, $269.99 million. The top three deficits through May of this year were with Saudi Arabia, $185.44 million; Canada, $132.81 million; and Iraq, $80.81 million.
Through May its top exports were Oil; Parts for heavy machinery; Misc. iron or steel structures and parts; Returned exports, without change; and Pumps for dispensing liquids, in that order. Those accounted for 94.74 percent of its total outbound trade. The Port’s top imports were Oil; Returned exports, without change; Printers, all types, parts; Seamless iron tubes and pipes; and Misc. knit fabrics, accounting for 97.01 percent of all inbound shipments.
Looking more closely at Port of Morgan City, La.’s exports:
- Oil rose 55.03 percent compared to last year to $1.24 billion.
- Parts for heavy machinery fell 25.71 percent compared to last year to $23.21 million.
- Misc. iron or steel structures and parts rose 84.25 percent compared to last year to $15.21 million.
- Returned exports, without change rose 267.47 percent compared to last year to $9.97 million.
- Pumps for dispensing liquids rose 150.34 percent compared to last year to $9.2 million.
On the import side:
- Oil fell 61.77 percent compared to last year to $554.55 million.
- Returned exports, without change rose 107.15 percent compared to last year to $34.25 million.
- Printers, all types, parts rose 1765.69 percent compared to last year to $5.81 million.
- Seamless iron tubes and pipes fell 88.56 percent compared to last year to $2.13 million.
- Misc. knit fabrics rose 9.27 percent compared to last year to $2.12 million.
Last year Port of Morgan City, La. posted total trade with the world of $5.46 billion. The Port’s surplus was $341.2 million. Exports totaled $2.9 billion and imports came to $2.56 billion.