Key findings from the initial Trendspotting Report from Panjiva revealed three key conclusions about the current state of global trade:
-- U.S. sourcing executives are still dependent on China. The sheer dollar value of imports from China grew by more than $13bn. This is disconnected from what Panjiva is hearing directly from sourcing execs who are eager to do business elsewhere. U.S. companies continue to be dependent on imports from China.
-- High-end products are in demand in U.S. -- Smartphones and precious stones came in as the top drivers of imports this quarter with a 21-percent and 40-percent change, respectively.
-- American manufacturing hype is mostly just that -- Export growth was driven first and foremost by an increase in oil exports. Other export winners included cars and high-end electrical products suggesting that the manufacturing resurgence is not broad-based.
The complete report, with more in-depth analysis on specific geographies and product categories, is available for free download at http://panjiva.com/info/q1_tradeflows/.
The new quarterly analysis complements Panjiva's monthly global trade reports.
"Our quarterly Trendspotting Report gives sourcing executives a clear, in-depth view of how trade is adjusting each quarter in order to make smarter, more informed business decisions on geographies that are trending 'hot' for the products they seek around the globe," said Josh Green, CEO of Panjiva. "The Trendspotting technology makes complicated U.S. government data more accessible to sourcing teams and powers insight into the movers and shakers of global trade."
