A Journal of Commerce report says the automotive industry may be among the businesses most affected by the earthquake and tsunami that struck northern Japan on March 11. 
The automobile industry is the largest U.S. importer of goods shipped from Japan, according to data and analysis from PIERS, and is the third largest exporter of container goods to the U.S.
Although three Japanese ports – Sendai, Hitachinaka and Kashima – have remained closed since the disaster on the northeastern coast, the country’s largest ports, including Tokyo, Kobe and Yokohama in the industrial southern part of the country, were open this week and handling commercial vessels, according to some reports.
However, Mario Moreno, economist for the Journal of Commerce, said Japanese exports "will weaken in the months ahead as the closing of several manufacturing plants prompted by electricity shortages combines with severely damaged roads and bridges to hamper production."
In 2010, imports of auto parts from Japan accounted for 28% of the total U.S. imports of this commodity globally. Boosted by solid gains in U.S. auto sales last year, imports of auto parts from Japan rose 22% in 2010, according to PIERS data. The increase was already slowing in 2011, growing by only 3% year over year in January 2011 vs. 2010.
Moreno’s forecast issued in December anticipated a 2.5% decline in U.S. containerized imports from Japan, coming off high volumes in 2010.
