|1||Plasma, vaccines, blood||$1.59 B|
|3||Raw tobacco||$729.68 M|
|4||Chemical wood pulp, not dissolving grade||$537.48 M|
|5||Motor vehicle parts||$515.9 M|
|6||Wood, sawed or chipped, greater than 6 meters thic||$465.43 M|
|7||Polyamides, primary forms||$316.49 M|
|8||Soybean oilcake, other solid residue, not ground||$297.81 M|
|9||Nonelectric rail locomotives, tenders||$281.05 M|
|10||Non-woven fabric||$241.47 M|
|1||Medicines in individual dosages||$2.56 B|
|2||Printers, all types, parts||$1.71 B|
|3||Motor vehicle parts||$1.3 B|
|4||Furniture, parts||$1.14 B|
|5||Seats, excluding barber, dental||$724.78 M|
|6||Toys, children's bicycles, games||$704.36 M|
|7||Engine parts||$465.63 M|
|8||Taps, cocks and valves for pipes, tanks||$452.09 M|
|9||Linens for bed, bath and kitchen||$444.98 M|
|10||Transmission shafts, bearings, gears||$422.41 M|
Port of Virginia’s trade increases 1.96 percent through October
Port of Virginia’s trade with the world rose 1.96 percent, from $60.5 billion to $61.69 billion 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 Virginia ranked No. 16 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. 16. It finished No. 16 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 Virginia’s top trade parters 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, Brazil and Japan, respectively.
Taking a closer look at its leading trade partners:
- Trade with No. 1 China fell 1.97 percent to $11.62 billion.
Exports fell 23.44 percent to $1.93 billion. Imports rose 3.82 percent to $9.69 billion.
- Trade with No. 2 Germany rose 13.74 percent to $7.26 billion.
Exports fell 12.09 percent to $1.08 billion. Imports rose 19.9 percent to $6.18 billion.
- Trade with No. 3 India rose 21.63 percent to $3.73 billion.
Exports rose 34.11 percent to $881.95 million. Imports rose 18.22 percent to $2.84 billion.
- Trade with No. 4 Italy rose 14.32 percent to $2.78 billion.
Exports rose 0.76 percent to $457.19 million. Imports rose 17.43 percent to $2.33 billion.
- Trade with No. 5 Japan fell 0.03 percent to $2.53 billion.
Exports rose 11.67 percent to $932.57 million. Imports fell 5.77 percent to $1.6 billion.
Port of Virginia’s top five trading partners through October accounted for 45.27 percent of its trade with the world.
Port of Virginia had trade surpluses with 118 countries and deficits with 82 through October. That compares with 118 surpluses and 89 deficits for the same period one year earlier. The top three surpluses through October of this year were with Belgium, $1.11 billion; The Netherlands, $488.7 million; and South Africa, $354.27 million. The top three deficits through October of this year were with China, $7.76 billion; Germany, $5.1 billion; and India, $1.96 billion.
Through October it’s top exports were Plasma, vaccines, blood; Soybeans; Raw tobacco; Chemical wood pulp, not dissolving grade; and Motor vehicle parts, in that order. Those accounted for 20.32 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 18.11 percent of all inbound shipments.
Looking more closely at Port of Virginia’s exports:
- Plasma, vaccines, blood rose 10.6 percent compared to last year to $1.59 billion.
- Soybeans rose 27.36 percent compared to last year to $812.53 million.
- Raw tobacco rose 13.76 percent compared to last year to $729.68 million.
- Chemical wood pulp, not dissolving grade rose 4.1 percent compared to last year to $537.48 million.
- Motor vehicle parts fell 55.05 percent compared to last year to $515.9 million.
On the import side:
- Medicines in individual dosages rose 34.81 percent compared to last year to $2.56 billion.
- Printers, all types, parts fell 6.39 percent compared to last year to $1.71 billion.
- Motor vehicle parts rose 11.52 percent compared to last year to $1.3 billion.
- Furniture, parts rose 6.93 percent compared to last year to $1.14 billion.
- Seats, excluding barber, dental rose 7.12 percent compared to last year to $724.78 million.
Last year Port of Virginia posted total trade with the world of $70.09 billion. The Port’s deficit was $18.25 billion . At the end of the year, the port’s top five trade partners were Canada, Germany, Iceland, Norway and The Netherlands. Exports totaled $25.92 billion and imports came to $44.17 billion.