U.S. Waterborne Foreign Trade Dipped in 2012

America’s waterborne foreign trade took a downward turn in 2012, falling 3.7 percent from the year before to just more than 1.29 billion metric tons, according to data collected and reported by the U.S. Census Bureau. That reversed the pattern of growth of the previous two years, dropping trade tonnage well below levels attained in the peak years of 2008 and 2007. Exports were barely higher than the 2011 record, while imports fell 6.5 percent to a 15-year low of some 720 million tons. The value of trade grew by 3.1 percent to $1.8 trillion, with increases of 3.8 percent for exports and 2.7 percent for imports.

Asia remained America’s leading trading region, with cargo volume from January through December marginally higher at 334.4 million tons. The strongest growth came from trade with China and South Asia, especially India.

Within the Western Hemisphere, tonnage declines from 2011 prevailed in U.S. trade with Canada, the Caribbean, Central America, Mexico and South America. Cargo tonnage increases occurred in U.S. trade with the European Union and the Middle East, but elsewhere the pattern of change was negative. Especially hard hit were U.S. imports from Sub-Saharan Africa, down 36 percent from 80.2 million to 51.6 million tons, mostly due to steep declines in petroleum from Nigeria and Angola. Comparisons of the volume and value of U.S. sea trade by world region for the years 2011-2012 are presented in Tables I and II of the first attachment. 

Twenty-five countries generated roughly 78 percent of both the volume and value of U.S. international waterborne trade in 2012. Five alone – China, Mexico, Canada, Venezuela and Saudi Arabia – accounted for 36 percent of total tonnage; 41percent of the dollar total came from trade with China, Japan, Germany, Mexico and Saudi Arabia. Rankings of America's Top 25 trading partners in 2012 based on volume (Table III) and value (Table IV) of cargo can be found in the second attachment.

New Orleans was the top U.S. Customs district in 2012 based on export and total foreign seaborne cargo volume, while the Houston/Galveston district led in import tonnage. Ranked by dollar value, the Los Angeles district stood first in imports and total trade while Houston/Galveston topped the export list. See the third attachment for the 2012 rankings by volume (table A) and value (table B) of seaborne cargo. 

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