A report released by economic transportation assessor Martins Associates has shown that ports across the US delivered a staggering US$4.6 trillion to the economy across 2014, a 43% increase compared to its last report published around seven years ago, according to the American Journal of Transportation.
In a previous article by PTI, an infographic was published showing the economic impact of EU shipping – an industry that has contributed around $62.6 billion to the European economy.
Dr. John Martin, President of Martin Associates, said: “The growth in jobs and economic importance of America’s seaports reflects the fact that the value of international cargo handled at these ports increased by $400 billion since 2007, reaching about $1.8 trillion in 2014. It’s important to emphasize that the key growth in our international trade was in U.S. exports, which saw a 60 percent increase in value over the past seven years.”
This comes despite claims that the value of the US dollar is increasing rapidly, and is leaving exporters struggling to cope financially.
PTI has recently sponsored Zepol's Top 20 US ocean port report. To download the report, click here