FTZ Board Shows Zone Activity at Record Highs in 2013
The value of merchandise received and exported from U.S. Foreign-Trade Zones rose for the fourth straight year to $835.8 billion and $79.5 billion, respectively, according to the recently released annual report of the FTZ Board. The report also says the proportion of shipments received at FTZs involving domestic-status merchandise rose from 58 to 65 percent, which is an increase in operations that combine U.S. and foreign inputs, said the report. The amount of merchandise received by warehouse and distribution operations shot up to $264 billion in 2013, and such operations now represent 32% of all FTZ activity, up from 25% in 2012, it said.
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According to the National Association of Foreign-Trade Zones (NAFTZ), the growth puts both received merchandise and FTZ exports at record highs. Since bottoming out during the economic downturn in 2009, exports from FTZs have more than tripled, according to NAFTZ President Daniel Griswold. Meanwhile, while oil refining still accounts for the vast majority of FTZ production activities, foreign-status petroleum inputs fell by 16% in 2013, which was made up for by increases in other product categories like vehicles, electrical machinery, and consumer products, said the NAFTZ.