The Port of New York & New Jersey a Leading Indicator of Globalization
The Port of New York & New Jersey A Leading Indicator of Globalization Transportation Research Forum Plenary Session March 23, 2006 R.M. Larrabee Director – Port Commerce Department Port Authority of New York & New Jersey The Port Authority of New York & New Jersey Responsible for Airports Tunnels & Bridges PATH Port of NY & NJ World Trade Center Site Established in 1921 by an act of US Congress Financially self-supporting through user fees and bond issues. Board of Commissioners chosen by Governors of NY(6) and NJ(6) International Trade Increases World Trade’s Contribution to 30% U.S. Gross Domestic Product 25% 20% 15% 10% 5% 0% Source:1 U.S.9 8Bureau2 1996 Dollars of Labor19 9Statistics2 2002 2012 Imports Ex por ts Historic Pattern of Growth 25% 20% Gross Domestic Product vs. Import Growth 15% 10% 5% 0% 1995 1996 1997 1998 1999 2000 GDP Grow2001 th 2002 2003 2004 Import Grow th Growth in Trade with Asia 25 20 15 10 Million TEU 5 0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 Total Asia Europe Northeast USA is the Largest Consumer Market Impact on the Port of New York and New Jersey Landbridge 10-State Market Area Algeciras New York/New Jersey GioaTauro Los ANgeles Kobe Jiddah Hong Kong Kaohsiung Colombo Singapore Port of NY/NJ Containers and Total TEUs, 1991 - 2004 4,500,000 4,000,000 4,478,480 3,500,000 4,067,811 Containers TEUs 3,000,000 3,749,014 3,316,276 2,500,000 3,050,746 2,828,878 2,000,000 2,620,113 2,465,993 2,456,886 2,382,639 2,262,792 2,269,145 1,500,000 2,200,922 1,972,692 2,014,052 1,953,006 2,033,879 1,865,471 1,828,636
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