Posted by Kevin Palmstein on Thursday, July 30, 2009
From time to time, we will give breakdowns of specific U.S. Customs Districts, countries, and commodities to provide insight into how the economy is affecting a single part of the trade puzzle. For this entry, we are focusing on the ports of New York City and New Jersey. This port region is one of the busiest trade regions in the United States and is important to the entire U.S. economy.
Here are the key trade statistics for year to date 2009 updated through May.
Top Trading Partners by Value
Imports
| Country |
YTD 2009 $ |
Change from
Jan-May 2008 |
| China |
$11,305,012,679 |
-8.3% |
| Germany |
$4,562,442,698 |
-34.9% |
Israel
|
$4,332,251,379 |
-31.7% |
| Italy |
$3,854,634,743 |
-31.1% |
| United Kingdom |
$3,531,814,389 |
-39.6% |
Exports
| Country |
YTD 2009 $ |
Change from
Jan-May 2008 |
| United Kingdom |
$4,591,019,256 |
-27.6% |
| Germany |
$2,922,505,854 |
-23.6% |
Switzerland
|
$2,834,638,780 |
-50.7% |
| France |
$2,452,282,127 |
-5.8% |
| Israel |
$2,385,379,538 |
-42.9% |
Top Products by Value
Imports
| HTS Code |
YTD 2009 $ |
| 7102.39 - Diamonds - Nonindustrial |
$3,672,168,922 |
| 3004.90 - Medicaments - In Measured Doses |
$3,281,315,233 |
2710.11 - Petroleum Oils
Oils from Bituminous Minerals Light Oils (70% or More) |
$2,798,677,326 |
2710.19 - Petroleum Oils
Oils from Bituminous Minerals (70% or More) |
$1,619,714,302 |
| 8703.23 - Passenger Motor Vehicles |
$1,525,374,624 |
2709.00 - Petroleum Oils
Oils from Bituminous Minerals, Crude |
$1,356,197,818 |
| 9701.10 - Paintings, Drawings and Pastels |
$922,342,433 |
| 8703.24 - Passenger Motor Vehicles Over 3,000 CC |
$894,491,859 |
| 8411.91 - Parts of Turbojets or Turbopropellers |
$877,882,970 |
7113.19 - Jewelry and Parts of
Precious Metal other than Silver |
$836,727,845 |
Exports*
| HTS Code |
YTD 2009 $ |
| 7102.39 - Diamonds - Nonindustrial |
$2,926,339,656 |
| 9701.10 - Paintings, Drawings and Pastels |
$1,848,245,159 |
7113.19 - Jewelry and Parts of
Precious Metal other than Silver |
$1,306,201,156 |
| 3004.90 - Medicaments - In Measured Doses |
$980,658,598 |
| 8803.30 - Parts of Airplanes or Helicopters |
$670,443,914 |
8703.23 - Passenger Motor Vehicles
between 1,500 and 3,000 CC |
$521,273,120 |
| 3002.20 - Vaccines for Human Medicine |
$420,804,915 |
2710.19 - Petroleum Oils
Oils from Bituminous Minerals (70% or More) |
$388,734,406 |
8542.31 - Processors and Controllers
Electronic Integrated Circuits |
$384,565,025 |
*Excludes HTS group 8800.00 for Exports, see http://www.census.gov/foreign-trade/statistics/notices/aircraft/index.html for details
Data for this report was taken from U.S. Census Bureau merchandise trade data. For more information about how Zepol analyzes trade using our trade data tools, please visit www.zepol.com.
Posted by Kevin Palmstein on Friday, July 24, 2009
As a Minnesota based company, we run into people who have certain expectations of 'Minnesota Nice'. We work hard to fill that positive stereotype by providing quality customer service, personalized support throughout the sales process, and constant updates and enhancements to our products that meet our customers' growing needs.
However, sometimes stereotypes can cause confusion and problems in business because we think we already know all the answers.
For example, China is the place to go to get cheap rice right? Nope. Changes in China's social, cultural, and economic climates have greatly reduced their agricultural output. Right now, the place to get rice is Thailand, who dwarfs all other countries' output in both total volume and value imported into the United States. In fact the U.S. imported 77% of its rice from Thailand in the last 12 months; a whopping 982,335,403 pounds!
While the above anecdote is amusing, it also proves a good point. Doing proper research into all avenues of your business is indispensable. It will ensure you are dealing with quality suppliers, that you are able to see the market shifts before you are stuck with a warehouse full of unwanted products, and that no one is profiting from your brand name but you. Proactive trade research and some industry knowledge ensures your business keeps moving forward.
Category: General
Posted by Kevin Palmstein on Friday, July 17, 2009
Zepol has been in several publications over the last couple of weeks. It is nice to get press that is focused on how Zepol is helping companies analyze their markets and turn information into the knowledge needed to succeed in their international environments.
Below are some of the mentions that we have received over the last couple of weeks:
Minneapolis Star Tribune - Zepol thrives in hard times by monetizing import data
Long Beach Business Journal - Ports' Budget Reflect Impact of Slumping Cargo Numbers
Patent, Trademark & Copyright Journal - Protecting IP Through Trade Data Intelligence
Petfood Industry - Import and Export Trends U.S. trade data show petfood faring relatively well
American Journal of Transportation - Forest Products 2009
We are humbled by this attention, but know that more and more companies are looking for trade data to advance their trade intelligence. For more news from Zepol, please visit our News and Events page.
Posted by Kevin Palmstein on Tuesday, July 14, 2009
The U.S. Census Bureau released their Merchandise Trade data numbers on July 10th, 2009. The Merchandise Trade deficit decreased from $38.1 billion in April to $33.0 billion in May. These numbers are very similar to last month's update ( click here to see last month's update), and it seems like the trade economy has been in a holding pattern for the last 3 months.
Below is an in-depth breakdown of the U.S. Census Merchandise Trade data released on last Friday. This month we have highlighted 5 interesting items that we found while looking at May's data; here are the hightlights:
- Oil is the main driver in the decrease of the Merchandise Trade deficit
- Trade with China is hurting
- Iranian Exports are still up nearly 400%
- Auto Exports are down 57% over last year
- Canada and Mexico hold the largest share of both Exports and Imports
Click here for Zepol’s U.S. Census Merchandise Trade Data Update for May 2009
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