|1||Passenger vehicles||$447.4 M|
|2||Plasma, vaccines, blood||$446.36 M|
|3||Scrap of precious metal||$329.6 M|
|4||Medicines in individual dosages||$223.05 M|
|5||Civilian aircraft, parts||$170.39 M|
|6||Scrap iron, steel||$170 M|
|7||Gasoline, other fuels||$124.65 M|
|8||Medical instruments||$107.3 M|
|9||Make-up and skin-care products||$92.78 M|
|10||Motor vehicle parts||$87.19 M|
|1||Medicines in individual dosages||$4.64 B|
|2||Passenger vehicles||$3.55 B|
|3||Heterocyclic chemical compounds||$1.96 B|
|4||Returned exports, without change||$1.84 B|
|5||Gasoline, other fuels||$1.61 B|
|7||Furniture, parts||$1 B|
|8||Rum, gin, vodka, other liquors||$978.24 M|
|10||Motor vehicle parts||$847.67 M|
Port of Newark’s trade decreases 14.1 percent through May
Port of Newark’s trade with the world fell 14.1 percent, from $80.9 billion to $69.49 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 Newark ranked No. 4 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 Newark’s top trade partners were No. 1 China, No. 2 Germany, No. 3 Italy, No. 4 India and No. 5 Switzerland. Through the same period of the previous year, the top trade partners were held by China, India, Germany, Italy and Switzerland, respectively.
Taking a closer look at its leading trade partners:
- Trade with No. 1 China fell 27.78 percent to $9.45 billion.
Exports fell 24.02 percent to $239.14 million. Imports fell 27.87 percent to $9.21 billion.
- Trade with No. 2 Germany fell 9.38 percent to $5.23 billion.
Exports fell 8.48 percent to $506 million. Imports fell 9.48 percent to $4.73 billion.
- Trade with No. 3 Italy fell 0.52 percent to $5.07 billion.
Exports fell 54.57 percent to $139.38 million. Imports rose 2.94 percent to $4.93 billion.
- Trade with No. 4 India fell 22.7 percent to $4.54 billion.
Exports fell 38.86 percent to $163.56 million. Imports fell 21.93 percent to $4.38 billion.
- Trade with No. 5 Switzerland fell 1.9 percent to $4.09 billion.
Exports rose 161.41 percent to $272.56 million. Imports fell 6.1 percent to $3.81 billion.
Port of Newark’s top five trading partners through May accounted for 40.84 percent of its trade with the world.
Port of Newark had trade surpluses with 57 countries and deficits with 159 through May. That compares with 51 surpluses and 168 deficits for the same period one year earlier. The top three surpluses through May of this year were with Saudi Arabia, $92.44 million; Panama, $36.46 million; and Dominican Republic, $26.71 million. The top three deficits through May of this year were with China, $8.97 billion; Italy, $4.79 billion; and Germany, $4.22 billion.
Through May its top exports were Passenger vehicles; Plasma, vaccines, blood; Scrap of precious metal; Medicines in individual dosages; and Civilian aircraft, parts, in that order. Those accounted for 27.51 percent of its total outbound trade. The Port’s top imports were Medicines in individual dosages; Passenger vehicles; Heterocyclic chemical compounds; Returned exports, without change; and Gasoline, other fuels, accounting for 21.37 percent of all inbound shipments.
Looking more closely at Port of Newark’s exports:
- Passenger vehicles fell 37.07 percent compared to last year to $447.4 million.
- Plasma, vaccines, blood fell 40.05 percent compared to last year to $446.36 million.
- Scrap of precious metal rose 22.78 percent compared to last year to $329.6 million.
- Medicines in individual dosages fell 7.43 percent compared to last year to $223.05 million.
- Civilian aircraft, parts fell 21.39 percent compared to last year to $170.39 million.
On the import side:
- Medicines in individual dosages rose 16.64 percent compared to last year to $4.64 billion.
- Passenger vehicles fell 29.77 percent compared to last year to $3.55 billion.
- Heterocyclic chemical compounds fell 7.5 percent compared to last year to $1.96 billion.
- Returned exports, without change rose 213.45 percent compared to last year to $1.84 billion.
- Gasoline, other fuels fell 61.79 percent compared to last year to $1.61 billion.
Last year Port of Newark posted total trade with the world of $195.57 billion. The Port’s deficit was $161.3 billion. Exports totaled $17.13 billion and imports came to $178.43 billion.