U.S. Containerized Exports Drop 3 Percent in October, Economist for The Journal of Commerce/PIERS Predicts Slow Growth in 2012

Dec 21, 2011, 01:05 ET from The Journal of Commerce/PIERS

NEWARK, N.J., Dec. 21, 2011 /PRNewswire/ -- U.S. containerized exports dropped 3 percent year-over-year in October after a strong third quarter, an abrupt brake that included the first decline in motor vehicle exports in more than a year, reported The Journal of Commerce/PIERS. Year-to-date export volume was still up 7.1 percent, however. JOC/PIERS Economist Mario O. Moreno forecasts a 5.8 percent growth for 2011 slowing to 3.8 percent for full year 2012.

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Overall U.S. containerized volume, measured in 20-foot-equivalent units, fell to 1,008,273 TEUs in October 2011, as markets in Europe, the Mediterranean and South America tumbled. "Demand from Europe continues to decline as European economies struggle with ongoing sovereign debt problems and decelerating manufacturing activity," Moreno said.

A 7 percent overall drop marked the first year-over-year decline in motor vehicles in 14 months. For Northern Europe, this accounted for an exports loss of 38 percent. Brazilian demand for miscellaneous plastic products, wood pulp and chemicals reversed sharply, leading to a 25 percent decrease to 25,444 TEUs of containerized exports shipped there.

On the upswing are exports to Africa, up 20 percent due to increased demand for grocery products, poultry and vinyl alcohol, and China, where meat volumes jumped 195 percent and U.S. logs and lumber rose 64 percent. Across the geographic spectrum, export losses were offset by gains of 125 percent in synthetic resins, 38 percent in meat, 17 percent in logs and lumber, 27 percent in poultry and 7 percent in mixed metal scrap.

A full analysis of the JOC/PIERS findings is available online at www.joc.com.

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About PIERS -- PIERS is the most comprehensive database of U.S. waterborne trade activity in the world providing information services to thousands of subscribers globally. Launched more than 35 years ago, PIERS was the first venture in digital global trade intelligence and quickly became the industry standard for accuracy, reliability and insight. Our unique infrastructure and proprietary technology allow us to not only publish import data but also complete coverage of U.S. export transactional data. PIERS is a division of UBM Global Trade, and a sister company of The Journal of Commerce.  For more information, visit www.piers.com, or call 800-952-3839 (+1-973-776-8660).

About UBM Global Trade -- UBM Global Trade is the leading provider of proprietary data, news, business intelligence and analytical content supporting commercial maritime, rail, trucking, warehousing and logistics industries worldwide. The company's portfolio of more than 100 online, print and interactive workflow business solutions includes The Journal of Commerce, Breakbulk, RailResource, PIERS and an array of international trade and transportation databases and directories. UBM Global Trade, a subsidiary of UBM plc, is headquartered in Newark, NJ, with offices throughout the United States. For more information, explore www.ubmglobaltrade.com or call 800-223-0243 (+1-973-848-7250 outside the U.S. or Canada).  

SOURCE The Journal of Commerce/PIERS