CBP Posts FY 2009 Import Trade Trends Report
U.S. Customs and Border Protection has recently posted its "Import Trade Trends" report for fiscal year 2009.
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According to CBP, the report is produced biannually and features graphical analysis and trade highlights. While the Census Bureau produces monthly trade statistics at the aggregate level, CBP's Import Trade Trends report is designed to trace major trade patterns and their impact on CBP workload and initiatives.
Highlights of FY 2009 Report
Highlights of CBP's FY 2009 Import Trade Trends report include:
Import levels fell in FY 2009, modest growth projected for FY 2010. During the first six months of FY 2009, U.S. imports rapidly declined. Seasonal patterns resumed in late spring 2009, resulting in moderate recovery in trade. Continued stability and modest growth were projected for FY 2010.
Import compliance rate was 98.5%. Based on a random sampling, 98.5% of the FY 2009 imports were materially compliant with all U.S. trade laws and regulations, a rate that is statistically comparable to recent years. Trade partnership participants, managed accounts, and larger importers tend to have higher compliance measurement rates than other importer groups.
China surpassed Canada as top U.S. trading partner. China surpassed Canada as the U.S. top trading partner in FY 2009, and is well-positioned to increase its lead through FY 2010.
C-TPAT and ISA entries Customs-Trade Partnership Against Terrorism (C-TPAT) and Importer Self-Assessment (ISA) entries represent 8.1% of all entries and are projected to represent 9% of FY 2010 entries.
AD/CV duties dropped in FY 2009. Antidumping and countervailing duties dropped 36% since FY 2008. China accounted for 47% of all AD duties imposed in FY 2009. and steel, furniture, chemicals, graphite, and machinery accounted for nearly 36% of all AD duties from China.
More than half of all cargo entries are paperless. More than half of all cargo entries are now paperless. Nearly all land border truck shipments are paper.
Number of consignees decreased in FY 2009. More than 711,000 consignees imported in FY 2009, a decrease of more than 8% from FY 2008. Consignee levels have been on the decline for the last four years. The top 3,000 consignees account for 74% of all import value and 50% of all entries filed.
High value imports include petroleum, machinery, etc. Petroleum products (that comply with Tariff Chapter 27) account for 15% of the highest value imported goods in FY 2009. Other high value imports include returned American goods, machinery and parts, textiles, medical equipment, chemicals, and pharmaceuticals.
ISA began expanding into non-revenue areas. ISA began expanding into non-revenue areas in FY 2009, including the pilot of ISA for Product Safety. The 195 ISA participants in FY 2009 account for 17% of all import value and 8% of all entry summaries.
70% of all imports were free or conditionally duty free. 70% of all imports were free or conditionally free from duty. It is estimated that trade agreements continue to save U.S. importers more than $4 billion annually.
FY 2009 Import Trade Trends report available at http://www.cbp.gov/linkhandler/cgov/trade/trade_programs/trade_trends/09_yr_end.ctt/09_yr_end.pdf.