MARAD: PORTS LOST $29.5 BILLION TO NAFTA PARTNERS IN 1999
U.S. ports in 1999 lost $29.5 billion in cargo business to Canada and Mexico, according to figures released last week by the U.S. Maritime Administration.
' Canadian ports accounted for the lion’s share — $26.8 billion — with exports amounting to a value of about $8.8 billion and imports, $18 billion.
U.S. cargoes moving through Mexican ports carried a value of $2.7 billion. Imports accounted for 86 percent of the tonnage, and 96 percent of the value, MarAd said.
Most of the exports moving out of Canada were destined for Europe, while exports out of Mexico were destined primarily to countries in the Americas.
Imports via Mexico were chiefly from Japan, China, South Korea, Taiwan and Singapore, while Europe and Japan continued as the primary origin for imports via Canada.
Most of the cargo moving in and out of Canada consisted of parts and accessories for motor vehicles.
Leading commodity exports moving out of Mexico were transport vehicles and automobiles. Leading imports were integrated circuits, electronic storage batteries, and automatic data processing machines.