2016Yearbook_Flipbook

2016

THE I SR I SCRAP YEARBOOK

Scrap Exports And Our Trade Balance

Rising global demand for scrap is not only good for the environment, it also provides a useful outlet for our excess scrap supply. U.S. export sales of scrap also significantly benefit the U.S. trade balance. According to figures from the U.S. Census Bureau and U.S. International Trade Commission, the United States exported more than 37 million metric tons of scrap commodities valued at $17.5 billion in 2015. Recovered paper and ferrous scrap exports typically represent the bulk of U.S. scrap exports by volume, accounting for more than 31 million metric tons combined last year, while nonferrous and precious metal scrap have some of the highest per-unit scrap values. Major export destinations for U.S. scrap last year included China ($6 billion), Canada ($2 billion), South Korea ($1 billion), Turkey ($930 million), Mexico ($920 million) and India ($900 million). Did you know that since 2000, net exports of U.S. scrap have made a positive contribution to our balance of trade amounting to more than $210 billion?

Cumulative Impact of Net U.S. Scrap Exports on U.S. Trade Balance Since 2000 ($)

$250,000,000,000

$200,000,000,000

$150,000,000,000

$100,000,000,000

$50,000,000,000

$0

Source: US Census Bureau/US International Trade Commission

23

INSTITUTE OF SCRAP RECYCLING INDUSTRIES, INC.