Port of Charleston Fuels South Carolina?s Record Exports in 2012

South Carolina exported a record $25.3 billion of goods to 197 countries through the Port of Charleston in 2012, according to the recent release of U.S. Department of Commerce figures.

With the deepest waters in the Southeastern region and a total economic impact of over $45 billion per year, the Port of Charleston is recognized as one of the nation’s most efficient ports and has been key to South Carolina’s success as a leading U.S. exporter and regional hub for port-dependent investment projects.

In addition to the state’s overall export growth in 2012, the South Carolina Ports Authority (SCPA) recently announced that container volume at the Port of Charleston was up nearly 10 percent in 2012, totaling 1.5 million 20-foot units at the port’s two container terminals, which the SCPA attributes to new shipping routes and increased Asian trade.

Last year, China and Japan were among South Carolina’s top ten export markets. According to the Small Business Administration, an increasing portion of the 20,000 U.S. businesses which the Port of Charleston services are setting their sights internationally on countries such as Asia, Australia, and the UK.

“South Carolina is rich in exports, both finished goods and agricultural products, which tend to be heavier to ship and which require access to deep water facilities like the Port of Charleston,” said Jim Newsome, president and CEO of the S.C. State Ports Authority. “We expect exports from our port to outpace imports in the coming years, and we are making major strides to enhance our port’s infrastructure and deepen Charleston Harbor in order to continue the positive impacts trade brings to our state.”

To accommodate the expected growth at the Port of Charleston, the SCPA’s has enacted a ten-year, $1.3 billion infrastructure investment plan to target new and existing terminals at the Port of Charleston, allowing the port to handle increased trade demand and post-Panamex cargo. As the Southeast’s only port which can allow all-tide, two-way access to post-Panamax ships, Charleston has a competitive edge over other ports in the region, including Wilmington, Savannah, and Jacksonville.

The Port of Charleston is directly or indirectly tied to one in every five jobs in South Carolina and is expected to have an even greater economic impact on the region over the next ten years. The construction of a new 280-acre terminal alone is expected to increase total container capacity by a full 50 percent.

The $300 million port-deepening project, which will deepen the now 45-foot channel to 50 feet “will drive economic investment and jobs in [South Carolina] while customers across the entire region will benefit from lower supply chain costs,” Newsome added.