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| Port of Los Angeles, busiest port breaks all time record. |
From LA Times/Ron White, 12/15/11. "A rising tide of exports has been flowing through the nation's busiest
seaport complex this year, helped by a weak dollar and a strengthening
U.S. manufacturing sector. In November, more U.S. goods than ever before moved out of the Port of
Los Angeles to foreign destinations, with 195,878 outbound cargo
containers, up 15% from the same month last year. For the 11-month period ended
Nov. 30, the port sent 1.9 million containers to foreign shores,
surpassing its annual record of 1.8 million boxes, set in 2010.
Goods moving through the port for sale in Asia and other world markets included manufactured items such as integrated circuits and micro assemblies, agricultural goods, raw materials and discretionary consumer items such as California wines.
A weak U.S. dollar made these goods more affordable, but the tepid domestic economy also has forced Americans to find new income through foreign markets. "It has been a robust year for exports," said Jock O'Connell, an international trade expert with Beacon Economics. "On an inflation-adjusted basis, this may, for example, turn out to be the best year ever for California exports."
Traditionally, imports have been the dominant news at the ports of Los Angeles and Long Beach, which rank first and second, respectively, in the nation in the number of cargo containers handled. The neighboring ports move more than 40% of the nation's Asian imports. But the big story this year has been the growth in foreign markets for goods through the Los Angeles Customs District and California as a whole.
"Finished goods are also part of the rising export picture, and that is really good news for the California and U.S. economies," said John Husing, an economist who concentrates on international trade and its effect on the Inland Empire. Exports also have been strong at other U.S. ports. And although U.S. export volume is expected to increase by nearly 7% this year, some experts project that the growth rate could be much slower next year. In California, exports this year include $5.26 billion in electronics such as integrated circuits and micro assemblies; $5.2 billion in "electrical apparatus for line telephony," including mobile phone components; $2.54 billion in semiconductor devices; and $2.39 billion in industrial machinery, including computers, O'Connell said." Read more ...
Goods moving through the port for sale in Asia and other world markets included manufactured items such as integrated circuits and micro assemblies, agricultural goods, raw materials and discretionary consumer items such as California wines.
A weak U.S. dollar made these goods more affordable, but the tepid domestic economy also has forced Americans to find new income through foreign markets. "It has been a robust year for exports," said Jock O'Connell, an international trade expert with Beacon Economics. "On an inflation-adjusted basis, this may, for example, turn out to be the best year ever for California exports."
Traditionally, imports have been the dominant news at the ports of Los Angeles and Long Beach, which rank first and second, respectively, in the nation in the number of cargo containers handled. The neighboring ports move more than 40% of the nation's Asian imports. But the big story this year has been the growth in foreign markets for goods through the Los Angeles Customs District and California as a whole.
"Finished goods are also part of the rising export picture, and that is really good news for the California and U.S. economies," said John Husing, an economist who concentrates on international trade and its effect on the Inland Empire. Exports also have been strong at other U.S. ports. And although U.S. export volume is expected to increase by nearly 7% this year, some experts project that the growth rate could be much slower next year. In California, exports this year include $5.26 billion in electronics such as integrated circuits and micro assemblies; $5.2 billion in "electrical apparatus for line telephony," including mobile phone components; $2.54 billion in semiconductor devices; and $2.39 billion in industrial machinery, including computers, O'Connell said." Read more ...
Posted by Kathy Meeh
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