World Trade a Winner
Somewhat surprisingly, world trade in South Carolina enjoyed some really impressive results last year irrespective of what has been going on with financial recovery in other areas. A report put out by the Los Angeles County Economic Development Corp. found that the increase in trade was “so sudden,” many industry sectors were totally unprepared for it! According to the report, “virtually everyone in the business was caught short — from steamship lines to railroads and truckers to manufacturers and distributors around the world…after spending much of 2009 worrying about sheer survival, concerns about the ability to provide adequate service rose to the forefront in 2010.”
There was an increase of 19.3 percent in container traffic through LA and LB ports with a jump of 17.2 percent for loaded import containers. Two-way trade through the LA Customs District also increased by 21.8 percent last year. This nice surprise was probably spurred significantly by the world’s economic recovery since LA’s top five trading partners all “returned to growth mode, and the expanding economy will also act as a tailwind in 2011.” In addition, international trade was also said to have been responsible for “516,000 jobs thus far in 2011…up 2 percent from 2010.”
Predictions also abound for more development this and next year. This year has witnessed a “mixed opening,” but there has been a continued expansion of the world economy, “suggesting international trade flows will expand further.” Predictions for global trade increases this year range between 6 and 9 percent.
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