Statistics

Baltimore, N.Y. among big gainers in exports

December 21st, 2007

Behind a banged-up U.S. currency, exports are increasing far faster than imports in percentage and dollar terms in 2007, and that is showing up in Baltimore, Puerto Rico, Houston, New Orleans and New York.

In particular, Baltimore’s exports are up almost 45 percent through October, according to WorldCity analysis of the most recent statistics available from U.S. Census. The big increase is in car exports, which have increased from $1.9 billion to $3.5 billion year over year, an 88.6 percent increase year over year.

Baltimore, which ranked fifth in the nation in car exports in 2006, now ranks third, having moved past the border crossing Customs districts of Buffalo, N.Y., and Laredo, Texas. Detroit is overwhelmingly No. 1, followed by the cars exported from Jacksonville, Fla., which is part of the Tampa Customs district.

Cars from GM, Chrysler and Ford leave from Baltimore, and those cars are now considerably less expensive in the Middle East, Europe and elsewhere. In the Top 10 are three Middle Eastern nations No. 1 Saudi Arabia, No. 6 United Arab Emirates and No. 10 Kuwait. Germany, the United Kingdom and Italy are Nos. 2-4, followed by No. 5 Australia. Spain, France and Belgium are also in the Top 10.

Tractors are also leaving through Baltimore, led by a 157 percent increase in shipments destined for Russia, and a 177 percent increase in those headed for Ukraine. Through 10 months, the total tractor exports from Baltimore topped $1 billion, up from $787 million through the first 10 months of 2006 and up from $342.6 million in the same period of 2002. Of that $1 billion, $297.7 million were on their way to Russia.

Tractors are the second-leading export from Baltimore after cars.

Baltimore, the nation’s No. 21-ranked Customs district in 2007, has seen its exports increase from $8.1 billion to $11.8 billion, a $3.6 billion increase.

New York’s exports have increased $15.7 billion, Houston’s $12 billion and New Orleans’ $9.3 billion.

The biggest increase in New York’s exports is in gold, the No. 2 overall export, which has increased $2.5 billion year over year, or 72.4 percent. The price of gold has been soaring on world markets, and it was over $800 an ounce in late December. About half of all that gold is bound for Switzerland.

New York’s No. 1 overall export, diamonds, increased $1.5 billion through the first 10 months of the year, or 19 percent. As was the case in Baltimore, the value of car exports is up sharply in New York—$969.4 million, or 60.5 percent. Another big increase is the export of waste and scrap precious metals an increase of 187 percent, or $830 million.

New York remains the nation’s No. 2-ranked Customs district, behind Los Angeles but it has moved ahead of Detroit to become No. 1 in exports.

In terms of overall trade, the U.S. total through 10 months was $2.6 trillion through the first 10 months of the year, a 7.1 percent increase. In percentage terms, the fastest-growing Customs districts among the Top 25 were San Juan, Puerto Rico, up !4.9 percent, followed by Charleston, S.C., up 13.7 percent; Norfolk, Va., 13.5 percent; and Savannah, Ga., up 13.4 percent.

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Annual U.S. trade with a record 44 nations will exceed $10 billion (01/19/2008)

Annual trade growth forecast to slow but numerous records still will fall (01/17/2008)

U.S. exports to Putin's Russia growing far faster than national average (12/23/2007)

Baltimore, N.Y. among big gainers in exports (12/21/2007)

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Annual Report: No. 24 Switzerland - Swiss trade keeping time (07/26/2006)

Annual Report: No. 25 Australia- U.S. posts $8.4 billion surplus (07/26/2006)

Annual Report: No. 23 Hong Kong - U.S. expands trade surplus (07/25/2006)

Annual Report: No. 21 Israel - Glittering give-and-take (07/23/2006)

Annual Report: No. 20 India - Rising player on trade scene (07/22/2006)

Annual Report: No. 19 Thailand - Gains seen in tech products (07/21/2006)

Annual Report: No. 16 Singapore - U.S. sees growth in surplus (07/20/2006)

Annual Report: No. 18 Belgium - Diamonds, medicines lead trade (07/19/2006)

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