The 2016 Panama Canal expansion added a third set of locks while doubling its shipping capacity. With the physical enlargement came a new transit booking system and a slot auction. Both addressed bottlenecks by shortening wait times at peak seasons. In its first fiscal year of operation, the number of ships rose 3.3% while total tonnage increased 22%. This singlehandedly stemmed from the new maximum size of Panama vessels that can transit. As expected, the expansion resulted in some diversion of traffic, higher demand for passage, and new investment in ports – primarily on the East Coast – to accommodate larger ships. The greatest potential impact for manufacturing companies will be on trucking capacity.
In October, MAPI held its most attended webinar of the year: Transfer Pricing & Customs Valuation. In today’s cross-border business environment, transfer pricing and U.S. Customs valuation are integral, and companies must have a clear understanding of the unique requirements of each to the business.
See the most popular content from 2017; the impact of hurricanes on the economy, infrastructure investment, encouraging diversity and inclusion in the workforce, the impacts of the GDPR, and the new language of digital.
Global Economy, Competitiveness, Government Policy, Economic Environment, Labor, Operations, Continuous Improvement, Productivity
A new study by the MAPI Foundation, Productivity Dynamics in U.S. Manufacturing, analyzes productivity growth in a range of manufacturing subsectors over the past 25 years and provides compelling statistical evidence on the importance that capital investment and educated labor have on productivity performance.
Americans are surrounded by manufactured goods at home and work— so how can the manufacturing sector represent only 11% of GDP? The explanation is that it doesn’t. MAPI Foundation research examining the full value chain reveals that manufacturing accounts for 32% of GDP. We also find that the manufacturing multiplier is almost three times as high as official data suggest.
Global Economy, Economic Environment, Global Regulatory Environment, Labor, Growth & Innovation, Research & Development, Research, Innovation, Leadership, Human Resources, Recruiting & Hiring, Operations, Information Technology