In 2007, import containers decreased by 0.4% to 3.7m teu while export containers increased by 22% to 1.5m teu – the Port’s strongest year ever for exports. The movement of empty containers, most of which are sent overseas to be refilled with products, decreased by 10.8% to around 2m teu.
With strong demand in Asia for US produced raw materials, the latter half of the year saw a dramatic increase in exports. Between June and November 2007 there were six consecutive months of export increases of more than 30%, fueling the overall yearly jump of 22%.
The drop in import growth can be attributed to the slowdown in the US economy, said Port executive director Richard Steinke, while the weak dollar provided a bright spot for US firms that export overseas.