Today's entry originally appeared on JOC.com on May 14, 2014
PIERS subscribers - please note that you can register for a free account at JOC.com to read up to 5 articles per month. Subscriptions are $199/year or $19.99/mo.
U.S. containerized exports edged down 0.5 percent year-over-year in March to 1,075,428 TEUs, the second consecutive month of declines, according to preliminary figures from PIERS.
The first quarter of 2014 saw a 2.8 percent decline in volume from the same three months in 2013.
March containerized exports were up 15.1 percent from February.
“Global demand continues to be weak, as evidenced by falling exports of scrap metals and paperboard,” said JOC Economist Mario Moreno. “For the first quarter, exports totaled lower volume than expected, calling for a downward revision to the 2014 export outlook.”
Westbound trans-Pacific exports inched up 0.9 percent year-over-year to 600,043 TEUs in March. The largest regional drop was in exports to Africa, which slipped 13 percent to 27,472 TEUs. The largest regional increase went to the Caribbean region, which climbed 5 percent in volume to 42,788 TEUs in March 2014.
Among March’s Top 25 destination countries, shipments to Saudi Arabia fell the most, down 17 percent year-over-year to 12,197 TEUs. Volume to Vietnam tumbled 14 percent to 16,983 TEUs, and Hong Kong followed with a decline of 13 percent to 30,406 TEUs. Panama saw the steepest growth in exports from the U.S. in March: Shipments jumped 27 percent to 12,516 TEUs. Exports to Chile and the Dominican Republic both climbed 18 percent, to 16,222 TEUs and 12,801 TEUs, respectively.
PIERS is the only authoritative source of complete U.S. export data. Register to learn more today.