Against Backdrop Of Gaza, Ukraine, 10 Predictions For 2023 Trade Results

Contributing sentiments towards policy:

69% : Oil is on track to be the most valuable U.S. export for the first time in at least two decades and perhaps ever.
66% : Passenger vehicles will reclaim the position of the United States' most valuable import, one year after ceding that title to oil.
66% : And oil had been pretty steady in the top spot, replaced occasionally over the years by passenger vehicles.
63% : That will affect U.S. trade totals because oil is the United States most valuable export (more on that in a moment) and its second most valuable import and because the category of refined petroleum products, led by gasoline, is the second-ranked export and eighth-ranked import.
58% : (My company, WorldCity, does business with Port Laredo, the Port of Los Angeles and a number of other airports, seaports and border crossings around the country.)
58% : Passenger vehicle imports are up 24.50% in value, while oil imports are down 22.95%For the second time in three years, the United States is on track to have a new No. 1 trade partner, port, export and import.
56% : This is remarkable only because for so many years, there was virtually no change:-- Canada was the top U.S trade partner until China and then Mexico moved into the top position.-- The Port of Los Angeles was the top "port" -- airport, seaport or border crossing -- until O'Hare replaced it and now Port Laredo is positioned to do so.-- The primary aircraft category was the No. 1 year export after year until refined petroleum replaced it and now oil is positioned to do so.--
54% : This will happen because the total value of oil, gasoline and natural gas exports exceeds the value of imports of oil and gasoline -- meaning those higher prices, should they come, would benefit U.S. exports more than imports.
39% : The Port of Los Angeles will finish the year ranked third among the nation's airports, seaports and border crossings, almost certainly its lowest rank in decades since it was, as noted, No. 1 for decades.

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