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U.S. Customs Import Trends FY 2010 Mid-Year Report

U.S. Customs Import Trends FY 2010 Mid-Year Report

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Published by dougj1
U.S. Customs and Border Protection Import Trends Report for Mid-Year FY 2010
U.S. Customs and Border Protection Import Trends Report for Mid-Year FY 2010

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Published by: dougj1 on Jul 12, 2010
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01/19/2011

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Fiscal Year 2010Mid-Year Report
JUNE 2010
importTrade trends
U.S. Customs and border Protection
 
 A 
s the rst six months o scal year 2010 comes to aclose, there have been some changes at U.S. Customsand Border Protection (CBP). Perhaps the most noticeableis my coming aboard as the agency’s new Commissioner. Ihad the privilege o joining the distinguished and dedicatedmen and women o CBP at the end o March. Teopportunity to serve at the agency’s helm is both a greathonor and a rst-rate challenge.For those o you who have been longtime readers o this report, you also will notice that there is somethingdierent about this issue o 
Import rade rends.
Tereport, rst published in 1998 as CBP’s ocial, singlesource o trade statistics, has a new look and a new approach to communicating about the work that we do.Te mission at CBP remains the same. Protectingthe homeland and the nation’s borders remain ourcritical mission. rade enorcement and support remainsa keystone o CBP’s oundation. Since America’sounding, unds collected rom duties andthe enorcement activities done by this agency havebeen essential to the nancial health o the country,and more recently, the saety and well-being o  American citizens.My intent moving orward is to strengthensignicantly our ability to serve as a acilitator o trade while maintaining the highest level o security or ournation. A core aspect o this approach is to view ourborders as fows o goods and cargo and o passengersand people, not merely as juridical lines on a map orpolitical boundaries between countries. We apply thisview beore and ater goods arrive in the United States.Security and trade go hand-in-hand. Te two, in act,are inseparable. By improving our risk management andtrade segmentation practices, we can utilize our layeredsecurity approach to achieve this synthesis. We expeditethe movement o lawul and trusted traders and travelersprecisely to ocus on the trac we know least about, andthereore, present the greatest risk. Partnerships withindustry and government, verications o productionand supply chains, and audits o import records allcontribute to securing our borders and acilitatingthe fow o goods. CBP will work hard to integratesecurity and best trade practices so that the two arecomplementary. We will seek out actively the assistanceo the private sector without whose collaboration wecannot succeed. As the economy rebounds, 2010 has been a moretypical year in terms o trade trends. In 2009, ater many successive years o growth, both the volume and value o goods imported into the U.S. declined dramatically. Tis, o course, was a leading indicator o the worldwide economiccontraction that ollowed the global nancial crisis.Domestic economic health can be measured by thevalue o our imports. Tis year that translates to goodnews. During the rst quarter o scal year 2010, theU.S. resumed normal trade patterns. Imports are now approaching 2006 levels, with 2007 levels within reach.Te trend suggests continued growth beyond 2010.
Import rade rends 
provides a snapshot o the globaleconomy. It allows us to analyze trade activity duringthe last six months and to readily establish trend linesderived rom comparisons with perormance in previousyears. Based on the data that’s been collected by CBP, weconrm that ordinary seasonal patterns are recurring in amanner that refects our recovering economy. According to the Central Intelligence Agency’s
Te World Factbook,
U.S. import value exceeds 95 percent o the gross domestic product or all countries in the worldcombined. Even though imports were down in 2009,CBP processed imports valued at more than $1.7 trillionand the agency generated nearly $30 billion or the U.S.reasury. CBP remains the largest revenue generator orthe U.S. Government ater the Internal Revenue Serviceand the Social Security Administration. Among other developments this year, CBPestablished the
Commercial argeting and Analysis Center (CAC)
, an interagency working group, to ocus onimport saety issues. By partnering with other ederalagencies, CBP can more eectively protect Americanconsumers rom unsae imports and at the same timecoordinate review and inspection activities with otheragencies or which CBP serves as executive agent at theborder. CBP continues to move orward in modernizingthe agency’s business and inormation technology processes to acilitate trade. In February, a new phaseo the
 Automated Commercial Environment (ACE)
wasimplemented, allowing importers to le antidumpingand countervailing duty entry summaries electronically or the rst time.Moreover, not surprisingly, during scal year2009, China established itsel as our top source o imports. As the economies o the U.S. and Chinabecome increasingly intertwined, it is my expectationthat our capacity to resolve issues o mutual interestcollaboratively will be enhanced in such crucial areas asintellectual property rights and consumer product saety.Finally, I restate my intention to operationalizeour commitment to secure trade acilitation. I look orward to working with the private sector and with ourpartner agencies to contribute both to the security andthe prosperity, as well as the economic competitivenesso our nation.
1
Message from the Commissioner 
   M   e   s   s   a   g   e   f   r      m    t   h   e   C      m   m   i   s   s   i      n   e   r
U.S. Customs and border protectionU.S. Customs and border protection
 Alan BersinCommissioner 
 
3
U.S. Customs and border protection
4
U.S. Customs and border protection
 
   S   t   a   t   i   s   t   i   c   a   l   H   i   g   h   l   i   g   h   t   s
4
statistical highlights Mid-Fiscal Year 2010
•
During the rst six months o scal year 2009, U.S. imports rapidly declined.Seasonal patterns resumed by mid-year 2010, resulting in a moderate recovery in trade.
•
Imports are now at levels last seen in scal year 2006. Continued stability andmodest growth are projected or scal year 2010.
•
Te total value o imports processed by U.S. Customs and Border Protection was slightly more than $1.7 trillion in scal year 2009, a 25 percent decreaserom the previous year. By year end 2010, it is projected that the value o imports will increase 6 percent, totaling $1.8 trillion.
•
Consistent with recent years, only 29 percent o imported goods weredutiable. Te remaining goods were duty ree or ree under tari preerenceprograms.
•
During the rst six months o scal year 2010, CBP collected $15 billionin revenue or the U.S. government. It is projected that $31 billion will becollected by year end.
•
 A total o $130 million in antidumping/countervailing duties were collectedduring the rst hal o scal year 2010, down slightly rom the same periodlast year.
•
 Ater the Revenue Gap declined or ve, consecutive years, preliminary measurements indicate that the level o uncollected duties rose to 1.4 percent, which is roughly equivalent to levels reported in scal year 2007.
•
Based on a random sampling, 98.6 percent o the scal year 2010 imports were materially compliant with all U.S. trade laws and regulations. Tiscompliance rate is slightly higher than recent years.
•
Entry volume at the mid-point o scal year 2010 is 13 million. By year end,27 million entries are expected, an increase o 5 percent rom scal year 2009.
•
China surpassed Canada as the United States’ top source o imports in scalyear 2009, and is projected to maintain its lead through scal year 2011.

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