|1||Plasma, vaccines, blood||$1.12 B|
|2||Motor vehicle parts||$363.8 M|
|3||Chemical wood pulp, not dissolving grade||$299.47 M|
|4||Pork meat, fresh, frozen or chilled||$252.66 M|
|5||Raw tobacco||$234.37 M|
|7||Nylon, polyester, other polyamides||$228.73 M|
|8||Scrap of precious metal||$218.54 M|
|9||Wood, sawed or chipped, greater than 6 meters thic||$172.08 M|
|10||Medicines in individual dosages||$166.47 M|
|1||Medicines in individual dosages||$1.39 B|
|2||Printers, all types, parts||$863.6 M|
|3||Motor vehicle parts||$591.25 M|
|4||Photo-sensitive semi-conductors, parts||$537.51 M|
|5||Furniture, parts||$528.65 M|
|6||Medical instruments||$377.05 M|
|7||Seats, excluding barber, dental||$354.75 M|
|8||Linens for bed, bath and kitchen||$236.17 M|
|9||Transmission shafts, bearings, gears||$201.25 M|
|10||Rubber tires||$199.65 M|
Port of Virginia’s trade decreases 11.46 percent through June
Port of Virginia’s trade with the world fell 11.46 percent, from $37.62 billion to $33.31 billion through the first six 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 $1.77 trillion, with exports at $687.16 billion and imports at $1.08 trillion. The nation’s total trade decreased 14.28 percent compared to the same period last year. Exports fell 16.57 percent and imports fell 12.75 percent.
Port of Virginia ranked No. 16 for total trade among the nation’s roughly 450 airports, seaports and border crossings through June 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 June Port of Virginia’s top trade partners were No. 1 China, No. 2 Germany, No. 3 India, No. 4 Japan and No. 5 Italy. 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 22.35 percent to $4.8 billion.
Exports rose 19.3 percent to $1.15 billion. Imports fell 30.06 percent to $3.65 billion.
- Trade with No. 2 Germany fell 10.03 percent to $3.69 billion.
Exports rose 2.78 percent to $752.12 million. Imports fell 12.81 percent to $2.94 billion.
- Trade with No. 3 India fell 21.72 percent to $1.93 billion.
Exports fell 24.3 percent to $415.83 million. Imports fell 20.98 percent to $1.52 billion.
- Trade with No. 4 Japan fell 5.63 percent to $1.63 billion.
Exports fell 5.86 percent to $661.3 million. Imports fell 5.47 percent to $969.05 million.
- Trade with No. 5 Italy fell 24.56 percent to $1.39 billion.
Exports fell 26.98 percent to $181.17 million. Imports fell 24.18 percent to $1.21 billion.
Port of Virginia’s top five trading partners through June accounted for 40.36 percent of its trade with the world.
Port of Virginia had trade surpluses with 112 countries and deficits with 78 through June. That compares with 108 surpluses and 86 deficits for the same period one year earlier. The top three surpluses through June of this year were with Belgium, $712.33 million; The Netherlands, $279.46 million; and Egypt, $259.69 million. The top three deficits through June of this year were with China, $2.5 billion; Germany, $2.19 billion; and India, $1.1 billion.
Through June its top exports were Plasma, vaccines, blood; Motor vehicle parts; Chemical wood pulp, not dissolving grade; Pork meat, fresh, frozen or chilled; and Raw tobacco, in that order. Those accounted for 18.53 percent of its total outbound trade. The Port’s top imports were Medicines in individual dosages; Printers, all types, parts; Motor vehicle parts; Photo-sensitive semi-conductors, parts; and Furniture, parts, accounting for 18.61 percent of all inbound shipments.
Looking more closely at Port of Virginia’s exports:
- Plasma, vaccines, blood rose 1.83 percent compared to last year to $1.12 billion.
- Motor vehicle parts rose 5.38 percent compared to last year to $363.8 million.
- Chemical wood pulp, not dissolving grade fell 7.78 percent compared to last year to $299.47 million.
- Pork meat, fresh, frozen or chilled rose 243.83 percent compared to last year to $252.66 million.
- Raw tobacco fell 26.52 percent compared to last year to $234.37 million.
On the import side:
- Medicines in individual dosages fell 5.2 percent compared to last year to $1.39 billion.
- Printers, all types, parts fell 19.56 percent compared to last year to $863.6 million.
- Motor vehicle parts fell 31.7 percent compared to last year to $591.25 million.
- Photo-sensitive semi-conductors, parts rose 209.87 percent compared to last year to $537.51 million.
- Furniture, parts fell 21.14 percent compared to last year to $528.65 million.
Last year Port of Virginia posted total trade with the world of $74.98 billion. The Port’s deficit was $25.2 billion. Exports totaled $24.89 billion and imports came to $50.09 billion.