Port of New Bedford, Mass.’s trade increases 113.35 percent through October

Port of New Bedford, Mass.’s trade with the world rose 113.35 percent, from $20.79 million to $44.36 million 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.

Port of New Bedford, Mass. ranked No. 249 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. 273. It finished No. 267 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 Port of New Bedford, Mass.’s top trade parters were No. 1 Canada, No. 2 China, No. 3 Morocco, No. 4 India and No. 5 Vietnam . Through the same period of the previous year, the top trade partners were held by Morocco, Turkey, China, The Netherlands and Belgium, respectively.

Taking a closer look at its leading trade partners:

• Trade with No. 1 Canada rose 13774 percent to $9.07 million.
  Exports fell 87.86 percent to $7,936. Imports totaled $9.06 million.
• Trade with No. 2 China rose 1577.91 percent to $8.3 million.
  There were no exports. Imports rose 1577.91 percent to $8.3 million.
• Trade with No. 3 Morocco fell 51.38 percent to $6.75 million.
  There were no exports. Imports fell 40.08 percent to $6.75 million.
• Trade with No. 4 India rose 24886 percent to $6.2 million.
  There were no exports. Imports rose 24886 percent to $6.2 million.
• Trade with No. 5 Vietnam rose 3793.68 percent to $4.56 million.
  Exports totaled $24,503. Imports rose 3772.78 percent to $4.54 million.

Port of New Bedford, Mass.’s top five trading partners through October accounted for 78.66 percent of its trade with the world.

Port of New Bedford, Mass. had trade surpluses with three countries and deficits with 13 through October. That compares with nine surpluses and 13 deficits for the same period one year earlier. The top three surpluses through October of this year were with Germany, $262,368; United Arab Emirates, $32,488; and Israel, $8,620. The top three deficits through October of this year were with Canada, $9.06 million; China, $8.3 million; and Morocco, $6.75 million.

Through October it’s top exports were Respiration equipment, etc.; Wood, sawed or chipped, greater than 6 meters thic; Optical telescopes, astrological instuments, parts; Compressors and pumps; and Milk and cream, concentrated or sweetened, in that order. Those accounted for 92.28 percent of its total outbound trade. The Port’s top imports were Misc. vessels, including warships, lifeboats; Women’s or girls’ suits, not knit; Sweaters, pullovers, vests, knit or crocheted; Oranges, grapefruit, other citrus; and Women’s or girls’ blouses, not knit, accounting for 83.05 percent of all inbound shipments.

Looking more closely at Port of New Bedford, Mass.’s exports:

• Respiration equipment, etc. rose 334.28 percent compared to last year to $262,368.
• Wood, sawed or chipped, greater than 6 meters thic totaled $24,503. The previous year, there were no exports in this category.
• Optical telescopes, astrological instuments, parts fell 50 percent compared to last year to $22,000.
• Compressors and pumps totaled $12,807. The previous year, there were no exports in this category.
• Milk and cream, concentrated or sweetened totaled $8,620. The previous year, there were no exports in this category.

On the import side:

• Misc. vessels, including warships, lifeboats totaled $9.06 million. The previous year, there were no imports in this category.
• Women’s or girls’ suits, not knit rose 1923.63 percent compared to last year to $8.63 million.
• Sweaters, pullovers, vests, knit or crocheted rose 8450.42 percent compared to last year to $7.57 million.
• Oranges, grapefruit, other citrus fell 40.08 percent compared to last year to $6.75 million.
• Women’s or girls’ blouses, not knit rose 8870.54 percent compared to last year to $4.53 million.

Last year Port of New Bedford, Mass. posted total trade with the world of $0. The Port’s deficit was $0 . 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 $0.