Despite signs that the U.S. economy is poised to slow in the new year, there appears to be no end to steady growth in trade moving through local seaports, the Long Beach Press-Telegram reports.
Fueled by expanding Asian markets, a weakening dollar, dropping fuel prices and continued American demand for cheap goods, both imports and exports were up by about 13 percent at the Los Angeles-Long Beach seaport complex in 2006.
Not much is expected to change in the coming 12 to 18 months, though growth in imports is expected to slow.
The weak dollar continues making U.S. products and raw materials more attractive around the globe, helping push exports last year to their highest levels in nearly a decade.
Most exports leaving local ports are raw materials, machinery and chemicals used for producing items in Asia that generally return here as electronics, furniture, automobiles and other retail products.
Expect exports to increase again this year, according to Port of Long Beach Executive Director Dick Steinke.
Sinking fuel prices are another good sign for port trade, especially for the small army of drivers hired to haul containers and bulk materials in and out of the harbor complex.
