U.S. containerized exports fell 6.1% year-over-year in June, to 925,043 TEUs, according to PIERS Data. This was the lowest volume seen since June 2011 and the first time volume fell below 1 million TEUs since January 2013. June containerized exports tumbled 12.5%from May.
“Asia appears to be the main source of weakness,” said PIERS/Journal of Commerce economist Mario Moreno in the August report of JOC Insights. “Foreign investors are pulling billions of dollars out of emerging bond markets in response to signs the Fed may start scaling back its stimulus program, adversely impacting emerging economies in Asia.”
U.S. containerized exports to Asia in June fell 7.5% y-o-y. The trade to Asia also inched down 0.7% year-to-date. January through June exports to all regions increased 0.3% compared with the first half of 2012.
Of June’s top 25 containerized export commodities, the largest declines were in automobiles, down 36%; pet and animal feeds, down 35%t; and auto parts, down 32%. The highest year-over-year increases were in miscellaneous grocery products, which soared 178%; metalware, up 119%; and miscellaneous apparel, up 21%.
Among June’s top 25 destination countries, shipments to Indonesia fell the most, down 43% y-o-y to 12,662 TEUs. Volume to Singapore declined 22% to 10,555 TEUs, and Vietnam followed with a loss of 16% to 13,331 TEUs. The Netherlands saw the steepest growth in exports from the U.S. in June: shipments rose 16% to 18,655 TEUs. Shipments to Belgium totaled 24,472 TEUs in the month, up 14% y-o-y. Exports to India also climbed 14%t, to 29,312 TEUs.
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