ATLANTA, GA Shipping between the United States and China in 2005 grew at a faster pace than between the U.S. and all world markets, with a dramatic widening of the trade imbalance between the two countries, The Colography Group, Inc. said in summarizing its annual analysis of air and ocean trade between the U.S. and 224 of its trading partners.
U.S. imports by all modes from China last year rose by 19.2% to 129.6 billion pounds, according to The Colography Group data. The value of those imports soared by 24.4% to US$235.2 billion. By contrast, total U.S. import tonnage, including from China, rose by 4.2%. Import value increased 15.1%, largely due to the run-up in petroleum prices.
The U.S. exported 74.2 billion pounds to China last year, up less than 2% from 2004. The value of those goods rose by 13%. Total U.S. exportsincluding Chinareached 791.2 billion pounds, a 1.2% gain. The value of those goods rose just under 10%.
In the ocean trade, nearly 128 billion pounds of Chinese exports arrived at U.S. ports last year, a 19% increase from 2004 levels. The value of seafreighted goods from China rose 21% to US$180 billion. By contrast, U.S. ocean exports to China grew less than 2% to 73.9 billion pounds. U.S. ocean export value grew by 16% to US$23.4 billion.
The vessel trade imbalance with China had a direct impact on total directional flows. Last year, 2.2 trillion pounds valued at US$889 billion were imported into the U.S. by sea, dwarfing the 785 billion pounds (valued at US$261.8 billion) exported from the U.S. on the water.
Approximately 1.8 billion poundsnearly 20% of all U.S.-bound air tradeoriginated in China last year, a 21% increase from 2004 levels. The value of those imports totaled US$54.8 billion, a stunning 37% above 2004.
U.S. air exports to China gained in 2005, though at a much slower pace and at much lower levels than comparable imports from China. Tonnage grew 3% to 265.3 million pounds, while the value of those goods rose 8% to US$11.0 billion.
From the U.S., 5.9 billion pounds of airfreight was exported globally in 2005, up 1.4% from 2004, The Colography Group said. The value of those goods rose by 7.9% to US$254.3 billion.
Total U.S. air import tonnage was virtually flat year-over-year at 9.2 billion pounds. Air import value rose 8.5% to US$375.9 billion.
Ted Scherck, President, The Colography Group, comments, For each pound air shipped to China, about seven pounds were imported. For every dollar of air value exported to China, nearly five dollars was imported. In the ocean trade, imports from China swelled by more than 20 billion pounds, while exports, albeit off a smaller base, rose only by 1.4 billion pounds. The data quantifies the oft-stated belief the widening U.S. trade gap with China shows little signs of narrowing.
Among other findings in The Colography Groups annual U.S. International Cargo By Commodity and Country database:
· Air shipments in 2005 accounted for .75% of all U.S. export tonnage, essentially flat from 2004 levels. Air accounted for .42% of all U.S. import tonnage, down from .43% in 2004.
· In 2005, the U.S. imported more vessel tonnage from Venezuela than from any other trading partner, underscoring the importance of petroleum products in the trade between the two nations.
· China was the number one market for vessel value, both in terms of U.S. imports and exports.
ABOUT THE COLOGRAPHY GROUPS U.S. INTERNATIONAL CARGO BY COMMODITY AND COUNTRY
The Colography Groups database offers the worlds broadest and most in-depth analysis of commerce to and from the United States. Covering trade between the U.S. and 224 countries, the report contains detailed and actionable information on air and vessel cargo value, weight and distribution of demand by country and by commodity group. The database also provides regional cargo summaries for selected groups of countries that comprise nine Colography world areas.
ABOUT THE COLOGRAPHY GROUP, INC.
In its 24th year, The Colography Group, Inc. specializes in strategic consulting solutions, supported by the worlds richest and most comprehensive shipping databases, to businesses, governments and financial analysts seeking to capitalize on opportunities in the global time-definite, or expedited, cargo market. Its data is based on information gained from on-going and detailed interviews with thousands of shipping decision-makers. Through these interviews, The Colography Group extracts actionable market intelligence used by its consultants to help clients develop and execute their transportation strategies. The Colography Group is based in Atlanta.