WorldCity, 1st Q: Miami, led by exports, growing faster than national average | Connecting Local Business Leaders To The Global Economy

1st Q: Miami, led by exports, growing faster than national average

May 21st, 2007

Miami’s trade with the world grew faster than the national average through the first three months of the year, lead by 13.3 percent growth in exports and double-digit growth in overall trade with its top five trade partners.

The South Florida Customs district’s trade grew 8.3 percent, according to WorldCity analysis of U.S. Census data, led by growth exceeding 10 percent for Brazil, Venezuela, Colombia, the Dominican Republic and China.

South Florida’s exports to Brazil increased $303 million, to Venezuela $123 million and to Colombia $129 million. Although the dollar figures were lower, Miami also saw export increases of greater than 30 percent to Italy, Germany and Japan as well as 28 percent to Peru.

The surge in exports provided the Customs district with a $2.5 billion trade surplus through the first three months of the year. That is 69 percent higher than for the same period of 2006 and 10 times greater than in 2005.

There are roughly four dozen Customs districts in the nation. Miami is one of only a few with a trade surplus and only Seattle’s is larger than Miami’s.

Overall, the Miami Customs district, which runs from Palm Beach through the Florida Keys, is the nation’s 13th-busiest, sandwiched between Cleveland and Philadelphia. U.S. trade grew slightly more than 6 percent through the first quarter.

Among the exports, the biggest increases were in landline phone equipment, computers and computer printers. Computer printers increased more than 1,000 percent, jumping from the 115th ranked export to No. 10.

Change	Jan.-Mar. 2007	Total Trade	Jan.-Mar. 2007	Jan.-Mar. 2006	Dollar Change	Percent Change
		World Total	$18,477,743,686	$17,043,336,396	$1,434,407,290	8.42%
0	1	Brazil	$2,353,387,951	$2,007,508,101	$345,879,850	17.23%
0	2	Venezuela	$1,260,520,430	$1,124,838,943	$135,681,487	12.06%
0	3	Colombia	$1,165,701,011	$1,040,932,946	$124,768,065	11.99%
0	4	Dominican Republic	$1,107,348,870	$999,669,774	$107,679,096	10.77%
2	5	China	$967,227,330	$850,133,605	$117,093,725	13.77%
-1	6	Costa Rica	$926,325,589	$972,696,821	($46,371,232)	-4.77%
-1	7	Honduras	$903,857,020	$869,473,491	$34,383,529	3.95%
0	8	Chile	$651,090,255	$585,256,822	$65,833,433	11.25%
0	9	Guatemala	$525,436,640	$548,290,090	($22,853,450)	-4.17%
2	10	France	$516,399,554	$372,895,730	$143,503,824	38.48%
-1	11	United Kingdom	$509,577,534	$509,760,004	($182,470)	-0.04%
1	12	Peru	$452,956,982	$362,210,305	$90,746,677	25.05%
1	13	Argentina	$425,462,118	$360,960,070	$64,502,048	17.87%
2	14	Ecuador	$399,972,435	$334,168,039	$65,804,396	19.69%
-4	15	El Salvador	$394,801,720	$423,255,445	($28,453,725)	-6.72%
-1	16	Italy	$394,200,633	$351,195,998	$43,004,635	12.25%
0	17	Mexico	$354,444,520	$331,787,573	$22,656,947	6.83%
2	18	Germany	$331,595,561	$250,356,502	$81,239,059	32.45%
-1	19	Bahamas	$313,518,497	$330,311,399	($16,792,902)	-5.08%
2	20	Panama	$272,288,563	$237,533,718	$34,754,845	14.63%
0	21	Japan	$238,897,376	$240,427,006	($1,529,630)	-0.64%
3	22	Paraguay	$228,182,434	$195,946,459	$32,235,975	16.45%
0	23	Haiti	$218,543,457	$221,565,211	($3,021,754)	-1.36%
0	24	Nicaragua	$209,977,992	$199,657,541	$10,320,451	5.17%
3	25	Jamaica	$203,407,417	$166,028,427	$37,378,990	22.51%
1	26	Trinidad and Tobago	$202,268,181	$169,046,488	$33,221,693	19.65%
-8	27	Netherlands	$191,292,897	$281,307,511	($90,014,614)	-32.00%
-2	28	Spain	$188,005,846	$173,223,538	$14,782,308	8.53%
7	29	Switzerland	$170,626,972	$87,085,703	$83,541,269	95.93%
2	30	South Korea	$137,554,063	$121,850,908	$15,703,155	12.89%
-1	31	Taiwan	$133,279,952	$135,464,149	($2,184,197)	-1.61%
-1	32	Netherlands Antilles	$121,708,173	$134,224,167	($12,515,994)	-9.32%
4	33	Hong Kong	$90,877,891	$77,711,768	$13,166,123	16.94%
5	34	Thailand	$87,980,413	$74,151,223	$13,829,190	18.65%
-1	35	India	$86,990,997	$94,029,061	($7,038,064)	-7.48%
-1	36	Cayman Islands	$80,790,185	$90,366,784	($9,576,599)	-10.60%
-8	37	Canada	$75,613,526	$136,375,102	($60,761,576)	-44.55%
3	38	Barbados	$75,547,194	$71,310,923	$4,236,271	5.94%
7	39	Uruguay	$68,664,434	$52,884,829	$15,779,605	29.84%
9	40	Sweden	$67,426,437	$42,723,429	$24,703,008	57.82%
-8	41	Aruba	$63,438,757	$117,427,007	($53,988,250)	-45.98%
2	42	Malaysia	$62,973,473	$55,071,666	$7,901,807	14.35%
10	43	Singapore	$60,407,353	$36,420,637	$23,986,716	65.86%
1	44	Bolivia	$54,216,583	$53,562,086	$654,497	1.22%
5	45	Indonesia	$51,993,412	$39,448,718	$12,544,694	31.80%
1	46	Turks and Caicos Islands	$49,459,717	$47,073,333	$2,386,384	5.07%
4	47	Australia	$48,185,788	$37,555,451	$10,630,337	28.31%
-6	48	Turkey	$48,074,873	$70,182,276	($22,107,403)	-31.50%
-1	49	Austria	$43,355,427	$43,766,157	($410,730)	-0.94%
-10	50	Russia	$42,039,198	$72,619,398	($30,580,200)	-42.11%