|1||Plasma, vaccines, blood||$1.38 B|
|3||Motor vehicle parts||$478.88 M|
|4||Chemical wood pulp, not dissolving grade||$448.17 M|
|5||Raw tobacco||$404.7 M|
|6||Nylon, polyester, other polyamides||$314.08 M|
|7||Scrap of precious metal||$284.14 M|
|8||Wood, sawed or chipped, greater than 6 meters thic||$263.92 M|
|9||Misc. chemical reaction initiators, accelerators||$251.23 M|
|10||Medical instruments for surgeons, dentists, vets||$199.49 M|
|1||Medicines in individual dosages||$1.95 B|
|2||Printers, all types, parts||$1.5 B|
|3||Motor vehicle parts||$1.14 B|
|4||Furniture, parts||$897.61 M|
|5||Seats, excluding barber, dental||$571.53 M|
|6||Medical instruments for surgeons, dentists, vets||$432.52 M|
|7||Toys, children's bicycles, games||$418.66 M|
|8||Transmission shafts, bearings, gears||$390.16 M|
|9||Linens for bed, bath and kitchen||$387.01 M|
|10||Taps, cocks and valves for pipes, tanks||$378.19 M|
Port of Virginia’s trade increases 2.8 percent through August
Port of Virginia’s trade with the world rose 2.8 percent, from $49.22 billion to $50.6 billion through the first eight months of 2019 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 $2.77 trillion, with exports at $1.1 trillion and imports at $1.67 trillion. The nation’s total trade decreased 0.32 percent compared to the same period last year. Exports fell 0.71 percent and imports fell 0.07 percent.
Port of Virginia ranked No. 16 for total trade among the nation’s roughly 450 airports, seaports and border crossings through August of 2019.
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 August Port of Virginia’s top trade partners were No. 1 China, No. 2 Germany, No. 3 India, No. 4 Italy and No. 5 Japan. Through the same period of the previous year, the top trade partners were held by China, Germany, India, Italy and Japan, respectively.
Taking a closer look at its leading trade partners:
- Trade with No. 1 China fell 5.94 percent to $8.45 billion.
Exports fell 15.18 percent to $1.38 billion. Imports fell 3.9 percent to $7.07 billion.
- Trade with No. 2 Germany fell 5.57 percent to $5.43 billion.
Exports rose 13.79 percent to $974.29 million. Imports fell 8.96 percent to $4.45 billion.
- Trade with No. 3 India rose 12.55 percent to $3.33 billion.
Exports rose 1.57 percent to $727.69 million. Imports rose 16.06 percent to $2.61 billion.
- Trade with No. 4 Italy rose 10.64 percent to $2.51 billion.
Exports fell 18.41 percent to $299.56 million. Imports rose 16.26 percent to $2.21 billion.
- Trade with No. 5 Japan rose 15.52 percent to $2.34 billion.
Exports rose 27.52 percent to $934.2 million. Imports rose 8.71 percent to $1.4 billion.
Port of Virginia’s top five trading partners through August accounted for 43.58 percent of its trade with the world.
Port of Virginia had trade surpluses with 113 countries and deficits with 87 through August. That compares with 113 surpluses and 85 deficits for the same period one year earlier. The top three surpluses through August of this year were with Belgium, $990.18 million; The Netherlands, $308.52 million; and Saudi Arabia, $289.22 million. The top three deficits through August of this year were with China, $5.7 billion; Germany, $3.48 billion; and Italy, $1.91 billion.
Through August its top exports were Plasma, vaccines, blood; Soybeans; Motor vehicle parts; Chemical wood pulp, not dissolving grade; and Raw tobacco, in that order. Those accounted for 19.23 percent of its total outbound trade. The Port’s top imports were Medicines in individual dosages; Printers, all types, parts; Motor vehicle parts; Furniture, parts; and Seats, excluding barber, dental, accounting for 17.93 percent of all inbound shipments.
Looking more closely at Port of Virginia’s exports:
- Plasma, vaccines, blood rose 6.69 percent compared to last year to $1.38 billion.
- Soybeans fell 25.23 percent compared to last year to $518.73 million.
- Motor vehicle parts rose 9.22 percent compared to last year to $478.88 million.
- Chemical wood pulp, not dissolving grade rose 6.74 percent compared to last year to $448.17 million.
- Raw tobacco fell 37.01 percent compared to last year to $404.7 million.
On the import side:
- Medicines in individual dosages fell 1.48 percent compared to last year to $1.95 billion.
- Printers, all types, parts rose 8.1 percent compared to last year to $1.5 billion.
- Motor vehicle parts rose 8.01 percent compared to last year to $1.14 billion.
- Furniture, parts fell 2.01 percent compared to last year to $897.61 million.
- Seats, excluding barber, dental fell 4.25 percent compared to last year to $571.53 million.
Last year Port of Virginia posted total trade with the world of $73.83 billion. The Port’s deficit was $24.66 billion. At the end of the year, the port’s top five trade partners were China, Germany, India, Italy and Japan. Exports totaled $24.58 billion and imports came to $49.24 billion.