|1||Scrap iron, steel||$53.49 M|
|2||Passenger vehicles||$24.85 M|
|3||Motor vehicle parts||$8.49 M|
|6||Self-propelled heavy construction machinery||$125,100|
|7||Misc. dead animal products||$102,993|
|8||Motor vehicle engines||$32,000|
|9||Trailers and similar vehicles||$31,950|
|10||Work trucks, other than tractors||$19,100|
|1||Passenger vehicles||$2.17 B|
|2||Gasoline, other fuels||$353.33 M|
|3||Commercial vehicles||$125.22 M|
|4||Petroleum products||$33.52 M|
|5||Motorboats and yachts||$8.75 M|
|6||Portland, aluminous and slag cement||$8.54 M|
|7||Various forms of salt||$8.17 M|
|8||Firearm parts and accessories||$6.84 M|
|9||LNG, other petroleum gases||$5.87 M|
|10||Wood, sawed or chipped, greater than 6 meters thic||$4.99 M|
Port of Providence, R.I.’s trade decreases 36.15 percent through May
Port of Providence, R.I.’s trade with the world fell 36.15 percent, from $4.42 billion to $2.82 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 Providence, R.I. ranked No. 71 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 Providence, R.I.’s top trade partners were No. 1 Mexico, No. 2 Germany, No. 3 Canada, No. 4 Japan and No. 5 Slovakia. Through the same period of the previous year, the top trade partners were held by Mexico, Germany, Slovakia, Canada and Japan, respectively.
Taking a closer look at its leading trade partners:
- Trade with No. 1 Mexico fell 43.84 percent to $980.38 million.
Exports fell 99.82 percent to $3.1 million. Imports rose 20312 percent to $977.29 million.
- Trade with No. 2 Germany fell 37.96 percent to $596.31 million.
Exports fell 99.92 percent to $728,219. Imports rose 38872 percent to $595.58 million.
- Trade with No. 3 Canada fell 12.46 percent to $319.86 million.
Exports fell 99.97 percent to $108,760. Imports rose 202779 percent to $319.75 million.
- Trade with No. 4 Japan rose 3.92 percent to $286.06 million.
There were no exports. Imports totaled $286.06 million.
- Trade with No. 5 Slovakia fell 59.19 percent to $240.18 million.
There were no exports. Imports totaled $240.18 million.
Port of Providence, R.I.’s top five trading partners through May accounted for 85.87 percent of its trade with the world.
Port of Providence, R.I. had trade surpluses with 14 countries and deficits with 22 through May. That compares with 26 surpluses and 19 deficits for the same period one year earlier. The top three surpluses through May of this year were with Turkey, $39 million; Nigeria, $27.52 million; and Saudi Arabia, $8.76 million. The top three deficits through May of this year were with Mexico, $974.19 million; Germany, $594.85 million; and Canada, $319.64 million.
Through May its top exports were Scrap iron, steel; Passenger vehicles; Motor vehicle parts; Commercial vehicles; and Tractors, in that order. Those accounted for 99.62 percent of its total outbound trade. The Port’s top imports were Passenger vehicles; Gasoline, other fuels; Commercial vehicles; Petroleum products; and Motorboats and yachts, accounting for 98.53 percent of all inbound shipments.
Looking more closely at Port of Providence, R.I.’s exports:
- Scrap iron, steel fell 35.26 percent compared to last year to $53.49 million.
- Passenger vehicles fell 11.35 percent compared to last year to $24.85 million.
- Motor vehicle parts fell 12.65 percent compared to last year to $8.49 million.
- Commercial vehicles rose 229.26 percent compared to last year to $602,120.
- Tractors rose 100.48 percent compared to last year to $258,574.
On the import side:
- Passenger vehicles fell 40.02 percent compared to last year to $2.17 billion.
- Gasoline, other fuels fell 25.16 percent compared to last year to $353.33 million.
- Commercial vehicles fell 12.69 percent compared to last year to $125.22 million.
- Petroleum products rose 17.69 percent compared to last year to $33.52 million.
- Motorboats and yachts fell 33.29 percent compared to last year to $8.75 million.
Last year Port of Providence, R.I. posted total trade with the world of $10.48 billion. The Port’s deficit was $9.82 billion. Exports totaled $329.71 million and imports came to $10.15 billion.