U.S. containerized exports jumped 8.2% year-over-year in August, to 1,073,240 TEUs, according to PIERS. This was the highest monthly export volume since March 2012.
Volume has been rising and falling over the past year, but have not seen a Y-o-Y increase of more than 4.9% in any particular month until August. The last increase of this level was a 9.6% jump in June 2012.
August containerized exports rose 11.0% from July. For the first eight months of 2013, exports were up 1.6% Y-o-Y ; August exports climbed 10.8% from containerized volume in January.
“Outbound containerized trade was surprisingly strong in August, partly attributed to China’s growing demand for consumer goods, notably food products,” PIERS/Journal of Commerce economist Mario Moreno said in the October report of JOC Insights. “Looking ahead, U.S. exports of grains and flour to China are expected to turn around over the 2013-2014 forecast period as severe flooding earlier this year has cut into China’s reserves at a time when demand for high quality wheat is on the rise.”
Among August’s top 25 destination countries, mainland China saw the steepest growth in exports from the U.S. in August: shipments rose 26% to 272,865 TEUs. Shipments to Colombia totaled 15,287 TEUs in the month, up 20% Y-o-Y. Exports to Chile climbed 18%, to 15,116 TEUs. Shipments to Hong Kong fell the most, down 16% Y-o-Y to 25,818 TEUs. Volume to Thailand declined 12% to 12,337 TEUs, and Saudi Arabia followed with a loss of 8% to 12,539 TEUs.
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