In 1,000 TEUs. Source: UNCTAD, Review of Maritime Transport.

US Containerized Trade with Asia, 1996-2007

American trade with several countries of the Pacific is chronically imbalanced, notably with China and Japan. What is notable is the rapidity at which these imbalances have emerged in about a decade. From and imports / exports ratio close to 1 in 1996, it has surged to 3.2 in 2007 (3.2 times more loaded containers traded between Asia in the United States than between the United States and Asia). This trend has implications on the movements of containers as well as on transport costs. The Asian crisis exacerbated imbalances in transpacific containerized shipping, mostly due to Asian currency debasement. In addition, the costs of moving a container from East Asia to the United States have been reduced by 50% during the 1990s, but due to trade imbalances Asian exporters pay on average 50% more in container shipping costs than their American counterparts. In the United States, there are at all times 300,000 to 400,000 empty containers waiting to find cargo. For New York, there are about 100,000 empty containers belonging to leasing companies and 50,000 empty containers belonging to shipping companies in various depots and terminals.