The U.S. exported nearly $140 billion in March, making the month the strongest ever for U.S. exports. Panjiva’s Trendspotting report shows that March 2012′s $139 billion in exports represented a 7% increase from March 2011 and was $3 billion higher than the next highest month, January 2011. So, what are the top products and countries of import that drove the increase in U.S. exports?
Civilian aircraft, engines, and parts were the top driver of U.S. exports in March 2012, together comprising over $8.5 billion. In dollar terms, aircraft exports increased 29% from March 2011 to March 2012. Japan and the UAE doubled spending on civilian aircraft imports from the U.S. — other top buyers included China and France. See Panjiva’s report here:
The U.S. exported $1.5 billion more in oil this March than last, which constituted a 36% increase. The top buyers of U.S. oil are the Netherlands, Mexico, Brazil, Singapore, and Peru. See Panjiva’s report here.
Cars and Trucks
Exports of motor vehicles jumped by 146%, from $216 million in March 2011 to $534 million in March 2012. The top importers were Germany, the United Kingdom, and Canada, each doubling imports of U.S. cars. See Panjiva’s report here.
The latest Quarterly Trendspotting Report is now available! The report contains a quantitative analysis of the macro trends shaping global trade during Q1. This report draws on Trendspotting, our intelligence tool which helps sourcing executives figure out which geographies are trending “hot” for the products they seek across the globe.
The report provides a clear view of how some of the most rapidly changing product categories performed relative to the same quarter one year prior:
- The U.S. continues to import a lot of portable computers, cars, oil and flat screen tv’s. New this quarter: steel for oil or gas pipelines.
- On the flip side, the U.S. is importing less cardiovascular medicine. We have no idea why.
- Growing U.S. export categories include: portable computers, airplanes (and related equipment), fuel for airplanes, and cars.
- Don’t believe the hype. The U.S. is still importing a ton from China. NAFTA counties and Saudia Arabia were also big winners in Q1.
- NAFTA countries and the U.A.E. surged as buyers of U.S. exports. Turkey bought a lot less, and interestingly Egypt did too.
This past Tuesday, Panjiva hosted a learning event at the New York Public Library’s Science, Industry and Business Library (SIBL). The Panjiva database is now fully online and accessible to library users, making it possible for students, researchers, and beginning entrepreneurs to have access to Panjiva’s information on global trade – from high-level market trends to detailed shipment and company information.
The NYPL event was a chance to introduce Panjiva to a new set of users and to give those users an opportunity to have guided demonstrations of the system. Thanks to all the staff at the NYPL SIBL who worked on this partnership, especially Maddy Cohen and Peter Bengston. Thanks also to Shirley Leung, the Economic Development Director for the Manhattan Chamber of Commerce who helped to arrange the partnership and the event. If your library or educational institution would like to learn about how to gain access to Panjiva for your members, contact Erika Borden at 646-205-0594 ext. 302.
Greece may be mired in economic depression, but that hasn’t slowed the country’s arms and ammunition imports. Panjiva’s data shows that Greece imported over $40 million of arms and ammunition from the U.S. in February 2012. Further, in Q1 2012 the country imported 3.6% more than the same period last year. So far it seems that Greece’s austerity experiment doesn’t apply to arms and ammunition. With talk of a possible Greek default and/or Euro zone exit, the country may opt to decrease the number of arms imports in the months ahead.
See more on Panjiva’s Trendspotting report.
Updated: We revisited this data and discovered that in fact Iron Man (90 shipments), not Thor (86 shipments), was the character who had generated the most merchandise shipments between February and April. We regret the error, but as a technical company we also find ourselves relieved that engineer-genius Tony Stark is the super hero of choice.
The word from the Panjiva research team: trade activity experienced another healthy bump from March to April. Specifically, the number of waterborne shipments coming into the U.S. experienced a 11% month-over-month increase from March to April. Previous year’s March to April changes: +7% in 2011, +4% in 2010, +10% in 2009, +8% in 2008.
The number of global manufacturers shipping to the U.S. also went up — 9% — from March to April. March-to-April changes in previous years: +6% in 2011, +3% in 2010, +8% in 2009, and +3% in 2008.
- The percentage of significant manufacturers on the Panjiva Watch List remained at 19%.
- The percentage of significant buyers having done business with a Panjiva Watch List supplier in the preceding three months dropped slightly to 25%.
- Manufacturers that have suffered a 50% or greater decline in volume shipped to American customers in the most recent three month period, versus the same period a year ago, are on the Panjiva Watch List.
- “Significant manufacturers” are companies that have sent 10 or more shipments to American customers within the last year. As of the end of April, there were 94,095 significant manufacturers.
- “Significant buyers” are U.S. companies that have received 10 or more shipments from overseas manufacturers within the last year. As of the end of April, there were 81,370 significant buyers.