Asia scores high in NY-New Jersey
While JFK and Newark have felt the pinch of high fuel costs due to a largely long-haul trade, rising carrier stars from India and the Middle East offer a welcome respite.
September 1, 2008
Without a doubt, Asia is a leading trading partner for the New York Customs District (NYCD). China continues to dominate imports to the NYCD, but in May 2008 showed a loss of -7.54 per cent compared to 2007. On a commodity basis, out of the top five, the two that had decreased were knit apparel by -40.7 per cent and woven apparel by -21.9 per cent.
For the month of May 2008, Japan had a significant growth of +14.56 per cent due to a growth in all of the top five commodities being imported.
Six of the NYCD’s largest trade partners experienced gains for May 2008, including China and Hong Kong. Th e primary goods driving these markets were machinery, iron and steel, electrical machinery, paper and plastic. India saw a +64.27 per cent increase in exports for May 2008. Th is increase is being driven by gains in eight out of the top ten exported commodities. The largest increase, +1,139.43 per cent, came from tanning and dye products.
While Yangtze River Express Airlines commenced direct service between Shanghai and John F. Kennedy International Airport (JFK) on March 8, 2007, that service was stopped only five months later primarily due to rising fuel costs and inefficient B747-200F aircraft.