|1||LNG, other petroleum gases||$198.55 M|
|2||Acyclic hydrocarbons||$129.59 M|
|3||Scrap iron, steel||$99.93 M|
|4||Medical instruments||$78.2 M|
|5||Plasma, vaccines, blood||$58.11 M|
|6||Machinery for heating and sterilizing||$54.09 M|
|7||Pork meat, fresh, frozen or chilled||$49.13 M|
|8||Make-up and skin-care products||$35.73 M|
|10||Frozen beef||$27.74 M|
|1||Passenger vehicles||$1.45 B|
|3||Frozen beef||$496.52 M|
|4||Grapes, fresh or dried||$486.05 M|
|5||Cocoa Beans||$455.46 M|
|6||Medicines in individual dosages||$298.83 M|
|7||Sheep or goat meat, fresh, chilled or frozen||$295.92 M|
|8||Radioactive chemical elements and isotopes||$295.3 M|
|9||Misc. raw materials for industrial manufacturing||$231.46 M|
|10||Medical instruments||$206.04 M|
Port of Philadelphia’s trade decreases 14.65 percent through May
Port of Philadelphia’s trade with the world fell 14.65 percent, from $13.66 billion to $11.66 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 Philadelphia ranked No. 31 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 Philadelphia’s top trade partners were No. 1 South Korea, No. 2 Australia, No. 3 Germany, No. 4 New Zealand and No. 5 Russia. Through the same period of the previous year, the top trade partners were held by South Korea, Australia, Saudi Arabia, Germany and Brazil, respectively.
Taking a closer look at its leading trade partners:
- Trade with No. 1 South Korea rose 9.21 percent to $1.36 billion.
Exports fell 98.21 percent to $21.9 million. Imports rose 6653.83 percent to $1.33 billion.
- Trade with No. 2 Australia fell 9.68 percent to $1.05 billion.
Exports fell 62.85 percent to $285.35 million. Imports rose 94.28 percent to $763.08 million.
- Trade with No. 3 Germany fell 12.04 percent to $831.74 million.
Exports fell 86.71 percent to $113.13 million. Imports rose 660.6 percent to $718.61 million.
- Trade with No. 4 New Zealand fell 0.49 percent to $628.94 million.
Exports fell 91.54 percent to $48.59 million. Imports rose 908.78 percent to $580.35 million.
- Trade with No. 5 Russia rose 14.47 percent to $578.82 million.
Exports fell 87.61 percent to $60.99 million. Imports rose 3720.62 percent to $517.84 million.
Port of Philadelphia’s top five trading partners through May accounted for 38.11 percent of its trade with the world.
Port of Philadelphia had trade surpluses with 51 countries and deficits with 116 through May. That compares with 109 surpluses and 62 deficits for the same period one year earlier. The top three surpluses through May of this year were with Turkey, $45.59 million; Norway, $36.47 million; and Belgium, $24.2 million. The top three deficits through May of this year were with South Korea, $1.31 billion; Germany, $605.48 million; and New Zealand, $531.76 million.
Through May its top exports were LNG, other petroleum gases; Acyclic hydrocarbons; Scrap iron, steel; Medical instruments; and Plasma, vaccines, blood, in that order. Those accounted for 33.96 percent of its total outbound trade. The Port’s top imports were Passenger vehicles; Oil; Frozen beef; Grapes, fresh or dried; and Cocoa Beans, accounting for 37.13 percent of all inbound shipments.
Looking more closely at Port of Philadelphia’s exports:
- LNG, other petroleum gases fell 44.05 percent compared to last year to $198.55 million.
- Acyclic hydrocarbons rose 83.18 percent compared to last year to $129.59 million.
- Scrap iron, steel rose 21.89 percent compared to last year to $99.93 million.
- Medical instruments rose 54.21 percent compared to last year to $78.2 million.
- Plasma, vaccines, blood fell 72.05 percent compared to last year to $58.11 million.
On the import side:
- Passenger vehicles rose 2.71 percent compared to last year to $1.45 billion.
- Oil fell 34.96 percent compared to last year to $823.96 million.
- Frozen beef rose 13.65 percent compared to last year to $496.52 million.
- Grapes, fresh or dried rose 12.62 percent compared to last year to $486.05 million.
- Cocoa Beans rose 11.91 percent compared to last year to $455.46 million.
Last year Port of Philadelphia posted total trade with the world of $30.61 billion. The Port’s deficit was $20.75 billion. Exports totaled $4.93 billion and imports came to $25.68 billion.