| March 2012 |
Total Exports From U.S. Virgin Islands
| Rank | Commodity | Total YTD Exports |
|---|---|---|
1 | Oil, not crude | $286,589,581 |
2 | Oils derived from high temperature coal tar | $18,134,421 |
3 | Jewelry, parts | $13,190,265 |
4 | Sulfur | $3,434,862 |
5 | Natural or cultured pearls; precious, semiprecious | $1,950,694 |
6 | Diamonds, not mounted | $1,843,681 |
7 | Petroleum products | $1,829,135 |
8 | Rum, gin, vodka, other liquors | $1,305,482 |
9 | Yachts and other boats | $1,019,500 |
10 | Scrap iron, steel | $696,462 |
Total Imports To U.S. Virgin Islands
| Rank | Commodity | Total YTD Imports |
|---|---|---|
1 | Oil | $660,307,588 |
2 | Oil, not crude | $237,237,598 |
3 | Molasses from sugar | $9,058,284 |
4 | Imports of returned exports | $5,138,620 |
5 | Natural or cultured pearls; precious, semiprecious | $4,594,278 |
6 | Wrist and pocket watches, not precious metals | $3,615,887 |
7 | Diamonds, not mounted | $2,909,200 |
8 | Petroleum gases, other gaseous hydrocarbons | $2,072,817 |
9 | Beer | $2,013,981 |
10 | Rum, gin, vodka, other liquors | $1,564,442 |
| March 2012 |
Top U.S. Virgin Islands Trading Partners
| Rank | Country | Total YTD |
|---|---|---|
1 | VENEZUELA | $553,919,448 |
2 | AZERBAIJAN | $108,355,019 |
3 | NETHERLANDS | $100,325,759 |
4 | GABON | $93,240,014 |
5 | NIGER | $75,368,661 |
6 | BAHAMAS | $50,068,233 |
7 | GHANA | $43,293,250 |
8 | BRAZIL | $38,560,256 |
9 | GUADELOUPE | $34,461,972 |
10 | CANADA | $33,863,189 |
Top US Trading Partners
| Rank | Country | Total YTD |
|---|---|---|
1 | CANADA | $153,987,495,076 |
2 | MEXICO | $122,398,351,478 |
3 | CHINA | $120,983,448,879 |
4 | JAPAN | $54,762,867,594 |
5 | GERMANY | $38,277,050,668 |
6 | UNITED KINGDOM | $28,840,373,748 |
7 | SOUTH KOREA | $25,150,256,689 |
8 | BRAZIL | $19,088,773,913 |
9 | SAUDI ARABIA | $18,638,133,172 |
10 | FRANCE | $17,857,130,070 |
U.S. Virgin Islands’s trade decreases -63.93 percent through March
U.S. Virgin Islands’s trade with the world rose to $1,267,324,147 through the first three months of 2012, according to a WorldCity analysis of the latest U.S. Census Bureau data. That’s -63.93 percent decreases the Customs district’s total trade during the same time period last year. The district’s exports decreased -27.53 percent while imports dropped -69.40 percent.
Through March the district’s top trade partners were No. 1 Venezuela, No. 2 Azerbaijan, No. 3 Netherlands, No. 4 Gabon and No. 5 Niger. Through the first three months of the last year, top five spots were held by Venezuela, Gabon, Netherlands Antilles, Canada and Nigeria, respectively.
Taking a closer look at the leading trade partners with U.S. Virgin Islands:
- No.1 Venezuela’s trade fell -66.18 percent to $553,919,448.
Exports fell -9.53 percent to $60,975. Imports fell -66.18 percent to $553,858,473. - No.2 Azerbaijan’s trade rose 12.29 percent to $108,355,019.
Exports fell to $0. The total for the comparable period in 2011 was $0 so a percentage cannot be calculated. Imports rose 12.29 percent to $108,355,019. - No.3 Netherlands’s trade rose 378.08 percent to $100,325,759.
Exports rose 374.75 percent to $95,059,733. Imports rose 447.45 percent to $5,266,026. - No.4 Gabon’s trade fell -88.72 percent to $93,240,014.
Exports fell to $0. The total for the comparable period in 2011 was $0 so a percentage cannot be calculated. Imports fell -88.72 percent to $93,240,014. - No.5 Niger’s trade rose 106.33 percent to $75,368,661.
Exports fell to $0. The total for the comparable period in 2011 was $0 so a percentage cannot be calculated. Imports rose 106.33 percent to $75,368,661.
U.S. Virgin Islands’s top five trading partners through March accounted for 73.48 percent of its trade with the world. The U.S. average for the same period was 52.49 percent.
U.S. Virgin Islands had trade surpluses with 29 countries and deficits with 49 through March. That compares with 22 surpluses and 47 deficits for the same period one year earlier. The top three surpluses through March of this year were with Netherlands, $89,793,707; Bahamas, $50,068,233; and Ghana, $43,293,250. The top three deficits were with Venezuela ($553,797,498), Azerbaijan ($108,355,019) and Gabon ($93,240,014).
Meanwhile, total U.S. trade increased to $934,379,177,983, up 8.63 percent compared to the same period last year. The nation’s exports climbed 3.54 percent to $30,467,217,700 as imports rose 5.09 percent to $43,800,507,934. The nation’s top five trade districts so far this year, by value, are New York City, Los Angeles, Houston, Detroit and Laredo. The overall trade deficit was $-171,264,242,143, up compared to the same period of last year when the deficit was $-157,930,951,909.
U.S. Virgin Islands’s top five exports by value through March were oil, not crude; oils derived from high temperature coal tar; jewelry, parts; sulfur; and natural or cultured pearls; precious, semiprecious, in that order. Those accounted for 97.21 percent of its total outbound trade. The value of the district’s top five imports, oil, oil, not crude, molasses from sugar and imports of returned exportsnatural or cultured pearls; precious, semiprecious and , accounted for 98.03 percent of all inbound shipments.
Looking more closely at U.S. Virgin Islands exports:
- Oil, not crude fell -25.30 percent compared to last year to $286,589,581.
- Oils derived from high temperature coal tar fell -46.16 percent compared to last year to $18,134,421.
- Jewelry, parts rose 9.59 percent compared to last year to $13,190,265.
- Sulfur rose compared to last year to $3,434,862. The total for the comparable period in 2011 was $0 so a percentage cannot be calculated.
- Natural or cultured pearls; precious, semiprecious rose 20.32 percent compared to last year to $1,950,694.
On the import side:
- Oil fell -76.78 percent compared to last year to $660,307,588.
- Oil, not crude rose 35.93 percent compared to last year to $237,237,598.
- Molasses from sugar rose 183.22 percent compared to last year to $9,058,284.
- Imports of returned exports fell -44.50 percent compared to last year to $5,138,620.
- Natural or cultured pearls; precious, semiprecious rose 50.48 percent compared to last year to $4,594,278.
Last year the U.S. Virgin Islands district posted total trade with the world of $14,523,904,358. The district’s deficit was $-9,886,486,960. At year end, the region’s top five partners were Venezuela, Gabon, Azerbaijan, Netherlands and Canada. Exports totaled $2,318,708,699 and imports came to $12,205,195,659.