U.S. containerised exports in third quarter 2009 compare poorly with the third quarter of 2008, but the 8.2% decline was better (by almost 9 percentage points) than had been forecast, the report shows.

U.S. export performance is almost entirely attributable to the persistent weakness of the dollar in international currency markets. The improvement in import volumes is in line with other economic indicators, including the return to positive growth in the third quarter, marking the end of the recession.

The PIERS trade statistics reveal the emergence of new U.S. trading partners. Trade from Southeast Asia to the United States performed above expectations, driven by Vietnamese exporters, who have been relatively unscathed by the U.S. slowdown. The country helped lift the region’s share of the U.S. export market by 0.4% in the third quarter. Vietnam is also buying more, and it is set to overtake Indonesia as the region’s top destination for U.S. exports.

Trade between the United States and its free-trade partner Jordan also helped buoy exports to this region by 5.8%. U.S. imports from the country increased 15.3% in the third quarter of 2009. Coming on the heels of an increase of 18.3% in the second quarter, Jordan almost single-handedly held imports from the regions to a modest -3.2% fall-off.

Based on third-quarter 2009 data, PIERS Trade Horizons is forecasting a 14.1% increase in imports from the Middle East, thanks in large part to revival in the apparel trade under the U.S.-Jordan FTA.

PIERS Trade Horizons statistics on U.S. containerized trade with the rest of the world are the latest available. The quarterly also forecasts container trade two years out.

The PIERS forecast for import trade volumes in 2010 now calls for annual growth of 6.2%. Growth in export volumes of 5.4% is projected.