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Transpacific trade demand lower than expected
POSTED: 9:33 a.m. EDT, October 30,2007

Transpacific trade demand has dropped in the recent months under the influence of fluctuations of the US' economy, Xinhua reported.

The volume of container cargo imported from Asia via all US ports was far lower than the estimation of the industry analysts.

A leading international trade data provider, the US-based PIERS, has adjusted this year's trade growth from 9.2 per cent to 7.2 per cent. But it still remains confident about 2008's market and expects growth can recover to 9.2 per cent in 2009.

The depreciation of US dollar and the strong growth in the Asian economy slightly stimulated the US export growth. PIERS has predicted this year's growth of US container exports to Asia to be 6.7 per cent, slightly higher than the earlier forecast of 6.2 per cent.

PIERS expects that China will continue to be the largest exporter to the US with a growth of 13.4 per cent in 2008, while a drop of 2.5 per cent will be seen in Japanese exports to the US.

From: schednet
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