|1||Plasma, vaccines, blood||$682.84 M|
|2||Passenger vehicles||$625.91 M|
|3||Scrap of precious metal||$458.77 M|
|4||Medicines in individual dosages||$309.95 M|
|5||Gasoline, other fuels||$301.35 M|
|6||Civilian aircraft, parts||$239.07 M|
|7||Scrap iron, steel||$231.85 M|
|8||Medical instruments||$144.92 M|
|9||Defense-related aircraft, parts||$122.18 M|
|10||Make-up and skin-care products||$116.51 M|
|1||Medicines in individual dosages||$7.5 B|
|2||Passenger vehicles||$4.48 B|
|3||Heterocyclic chemical compounds||$3.08 B|
|4||Gasoline, other fuels||$2.48 B|
|5||Returned exports, without change||$2.19 B|
|7||Furniture, parts||$1.41 B|
|8||Rum, gin, vodka, other liquors||$1.38 B|
|10||Motor vehicle parts||$1.12 B|
Port of Newark’s trade decreases 13.14 percent through July
Port of Newark’s trade with the world fell 13.14 percent, from $114.47 billion to $99.43 billion through the first seven 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 $2.08 trillion, with exports at $799.82 billion and imports at $1.28 trillion. The nation’s total trade decreased 13.79 percent compared to the same period last year. Exports fell 16.38 percent and imports fell 12.08 percent.
Port of Newark ranked No. 5 for total trade among the nation’s roughly 450 airports, seaports and border crossings through July of 2020. During the same period of 2019 it ranked No. 4. It finished No. 4 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; Chicago O’Hare International Airport; John F. Kennedy International Airport; Port Laredo and Port of Newark.
Through July 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 38.35 percent to $11.58 billion.
Exports fell 35.36 percent to $291.25 million. Imports fell 38.42 percent to $11.29 billion.
- Trade with No. 2 Germany fell 19.67 percent to $6.45 billion.
Exports fell 17.72 percent to $616.42 million. Imports fell 19.87 percent to $5.83 billion.
- Trade with No. 3 Italy fell 15.86 percent to $6.18 billion.
Exports fell 49.43 percent to $185.72 million. Imports fell 14.09 percent to $5.99 billion.
- Trade with No. 4 India fell 34.25 percent to $5.32 billion.
Exports fell 50.76 percent to $189.11 million. Imports fell 33.43 percent to $5.13 billion.
- Trade with No. 5 Switzerland fell 14.25 percent to $5.03 billion.
Exports rose 127.62 percent to $331.45 million. Imports fell 17.85 percent to $4.7 billion.
Port of Newark’s top five trading partners through July accounted for 41.44 percent of its trade with the world.
Port of Newark had trade surpluses with 52 countries and deficits with 165 through July. That compares with 52 surpluses and 169 deficits for the same period one year earlier. The top three surpluses through July of this year were with Saudi Arabia, $78.85 million; Panama, $45.75 million; and Dominican Republic, $33.52 million. The top three deficits through July of this year were with China, $11 billion; Italy, $5.81 billion; and Germany, $5.21 billion.
Through July its top exports were Plasma, vaccines, blood; Passenger vehicles; Scrap of precious metal; Medicines in individual dosages; and Gasoline, other fuels, in that order. Those accounted for 28.53 percent of its total outbound trade. The Port’s top imports were Medicines in individual dosages; Passenger vehicles; Heterocyclic chemical compounds; Gasoline, other fuels; and Returned exports, without change, accounting for 21.64 percent of all inbound shipments.
Looking more closely at Port of Newark’s exports:
- Plasma, vaccines, blood fell 30.13 percent compared to last year to $682.84 million.
- Passenger vehicles fell 32.32 percent compared to last year to $625.91 million.
- Scrap of precious metal rose 33.13 percent compared to last year to $458.77 million.
- Medicines in individual dosages fell 2.51 percent compared to last year to $309.95 million.
- Gasoline, other fuels fell 29.12 percent compared to last year to $301.35 million.
On the import side:
- Medicines in individual dosages rose 32.24 percent compared to last year to $7.5 billion.
- Passenger vehicles fell 38.16 percent compared to last year to $4.48 billion.
- Heterocyclic chemical compounds rose 1.37 percent compared to last year to $3.08 billion.
- Gasoline, other fuels fell 61.02 percent compared to last year to $2.48 billion.
- Returned exports, without change rose 158.81 percent compared to last year to $2.19 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.