U.S. containerized exports increased 11.6 percent in the first quarter of 2011, and the 3,006,592 TEUs exported represented the highest volume since the second quarter of 2008.
“The first quarter gains are a reflection of a continuing expansion of global manufacturing and a tumbling U.S. dollar,” said Mario Moreno, economist for the Journal of Commerce and its sister company PIERS, which published the export numbers.
Fabrics led the growth, expanding 66 percent over the first quarter of 2010. Shipments of lumber and auto parts each increased 33 percent.
Shipments to China, the largest overseas market for U.S. exports, were up 77,030 TEUs, an increase of 14 percent. Exports to Japan, the second largest market, increased 13 percent. The largest percentage gain was exports to Brazil, which were up 29 percent over last year’s first quarter.
The value of the dollar fell 5 percent since Jan. 1 against a basket of currencies, making U.S. exports more competitive and indicating that strong growth potential remains this year.
The Journal of Commerce Online
Login
