Statistics

U.S. trade growth at 14 percent through August

October 16th, 2006

U.S. trade with the world is up nearly 14 percent through the first eight months of the year, as the international shipping community moves into the holiday season ahead of the rest of America.

That growth is led by Mexico, China, Malaysia, the Netherlands and Venezuela.

The only country among the leading nations to show a decline, year over year, was Ireland, down slightly more than 1 percent, according to WorldCity analysis of Customs data.

The leading gainers among top Customs district were Houston, New Orleans, Seattle, Philadelphia and Dallas. Through eight months, the top five Customs districts Los Angeles, New York, Detroit, Laredo, Houston all topped $100 billion in trade, up from three in the same period of 2005.

Overall, exports are up just under 14 percent to $676 billion. The top 12 export categories all topped $10 billion, up from eight through August in 2005. The top export is computer chips, up more than 15 percent.

The fastest-growing top exports, year over year, are aircraft (No. 2, up 27 percent), refined petroleum products (No. 8, 33 percent), gold (No. 20, 49 percent) and corn No. 21, 36 percent).

Imports are increasing at about the same 14 percent rate as exports, though not the same dollar value, given the imbalance between the two. Oil remains the top import, valued at $154 billion, up 34 percent and nearly double the value of the No. 2 import, motor vehicles. The top 17 imports surpassed $10 billion through the first eight months of the year, according to WorldCity analysis of the most recent Census data.

Other fast-growing top imports include refined petroleum products (No. 3 overall, up 39 percent) and TV and computer monitors (No. 11, 27 percent).

The top 24 imports are increased through the first eight months of the year. No. 25, sweaters, fell slightly more than 1 percent.

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