WorldCity

Colombia FTA in headlines as Clinton aide steps aside

April 7th, 2008

Colombia came within an eyelash of $18 billion in trade with the United States in 2007, according to data from Americas TradeNumbers, an annual WorldCity publication released last week at the opening of the annual Inter-American Development Bank meeting in Miami.

The South American nation was integral today to the lead story in the Wall Street Journal and the New York Times, among others, as a top aide to U.S. Sen. Hillary Clinton resigned as her chief political strategist for her presidential campaign. Mark Penn, who has advised both former President Bill Clinton and his wife for more than a decade, is the chief executive of Burson-Martseller, the global public relations firm, and it represents, among other clients, the government of Colombia.

Sen. Clinton has come out in opposition to a pending free trade agreement with Colombia.

Colombia is the fourth-leading trade partner for the United States in the Western Hemisphere, and the new leader of a third tier of Americas trade partners.

The first tier is Canada and Mexico, with more than $900 million in trade between the two of them. The second tier is Brazil and Venezuela, which both topped $50 billion for the first time in 2007.

Colombia and Chile each had $17 billion and sufficiently distanced themselves from the fourth tier of trade partners, with annual totals between $7 billion and $11 billion.

Colombia only surpassed $10 billion in total U.S. trade for the first time in 2003, and its trade has essentially doubled since 2002.

In 2007, its annual trade with the United States increased 12.7 percent, more than double the Americas average of 5.8 percent. With its 2007 growth, it jumped ahead of Chile into the No. 3 position in the hemisphere.

For more details, import-export statistics for the United States and Colombia can be found at the end of this article.

Both Clinton and her Democratic Party rival, Sen. Barrack Obama, have indicated they are opposed to passage of the Colombia-United States free trade agreement.

In the hemisphere, the United States currently has FTAs with Canada and Mexico in the North America Free Trade Agreement, or NAFTA; with Chile; with Peru; and with the Dominican Republic, Costa Rica, Honduras, Guatemala, El Salvador and Nicaragua in the Dominican Republic-Central America Free Trade Agreement, or DR-CAFTA.

CUSTOMS DISTRICTS: Miami and Houston lead the charge in two-way trade with Colombia but the Mobile, Alabama Customs district has gained the most ground in the last few years. In just three years, from 2004 to 2007, Mobiles trade has more than doubled, from $592.5 million to $1.3 billion, and now commands almost 7 percent of all U.S. trade with the Andean nation.
Miami has been the most important Customs district for Colombian trade for at least 15 years, but the market share, after peaking at 41.9 percent in 1994, has succumbed to pressure from others, and finished 2007 at 27 percent.

EXPORTS: The top three exports to Colombia represent the agricultural, the industrial and the technological corn, machinery parts and computers. Corn became the first U.S. export to exceed $500 million to Colombia in 2007. Overall, exports continued to show significant growth, increasing an impressive 27.6 percent in 2007.

IMPORTS: U.S. imports from Colombia are varied, but oil accounts for 37.6 percent of the total, down from a high of 48.8 percent in 2000. Colombia is known for its flower imports, primarily into Miami, and those grew 13.2 percent in 2007. Iron alloys and coke from coal were two of the fastest-growing imports into the United States in 2007.

BALANCE OF TRADE: After reaching a high of $3.4 billion in 2005, the United States deficit with Colombia has decreased, ending 2007 at $880.5 million. Interestingly enough, that deficit does not come from the top three Customs districts, Miami, Houston and New Orleans, all of which registered a trade surplus with Colombia. The biggest U.S. deficit is between Colombia and San Francisco, at $716.2 million.

To purchase a copy of the sixth annual version of Americas TradeNumbers, which provides the top imports and exports between the United States and the record 24 nations in the Western Hemisphere, click here.

(Actual statistics charts and numbers for this article can be found here on worldcityweb.com.)

Number of U.S. trade surpluses at 127 nations, highest since 1998

February 21st, 2008

Second of Four Articles: A Look at the Top Countries

En route to a record $3.1 trillion in international trade in 2007, the United States registered a trade surplus with 127 nations, the greatest total since 1998, and a deficit with only 106, the lowest total since 1999.

As is a virtual annual rite of passage, the United States broke the previous years records for total trade, total exports and total imports, according to WorldCity analysis of U.S. Census data. But, for only the second time in the last 15 years, the United States did not break the previous years record for the trade deficit. The other year the deficit declined was 2001.

Given the similarities between the economic conditions in 2001 and in 2007, the price the United States must pay, it seems, for a reduced deficit, is a slowing economy. In the case of the 2007 statistics, a weakened U.S. dollar against most of the worlds currencies is also cited as a reason for export strength relative to import strength.

This is the second of four articles about U.S. trade in 2007. The first focused on specific Customs districts. The remaining two will look at specific export commodities and specific import commodities. Charts for this story appear at the bottom of the text.

The sluggish U.S. economy and the weakened dollar did not slow Chinas imports into the United States or the growth in the U.S. deficit with the Asian nation. While 163 nations of the world saw their balance of trade whether in surplus or deficit shift toward the United States, the U.S. deficit with China continued to grow in 2007, rising from $233 billion in 2006 to $256 billion in 2007.

In fact, the U.S. deficit with China is three times greater than the second-largest U.S. deficit, which is with Japan. Mexico is now No. 3, registering a $74.3 billion deficit, a $10 billion increase, enough to surpass Canada in 2007. The U.S. deficit with Canada is $64.7 billion.

The United States has had its largest deficit with China since 2000, when it surpassed Japan for the first time.

Almost 85 percent of the United States $791 billion deficit in 2007 was with just 11 nations, the other seven being Germany, Nigeria, Venezuela, Saudi Arabia, Ireland, Malaysia and Italy. And the U.S. deficit increased with seven of the 11, the exceptions being Japan, Canada, Germany and Malaysia.

In terms of overall, two-way trade, Canada remained the United States No. 1 trade partner, with No. 2 China a distant second. Until 2006, Mexico had been No. 2. It is now No. 3, followed by Japan and Germany.

In 2007, Canada did relinquish to China its long-time hold on the No. 1 ranking for imports into the United States. Chinas imports topped $321 billion in 2007, up 11.7 percent, while Canadas ended the year at $313 billion, up 3.5 percent. The U.S. average for imports was an increase of 5.4 percent, a percentage that has now fallen four straight years. In fact, the 5.4 percent increase is the lowest increase since 2001, when imports declined for the only time in the last 15 years.

Canada is the United States No. 1 export partner, and the total of U.S. exports fell just shy of $250 billion in 2007. Mexico is a distant No. 2 at $137 billion. China is now No. 3, having surpassed Japan in 2007, finishing the year with $65 billion.

Among the fastest-growing top trade partners are India and Vietnam, with 30.5 percent and 29.7 percent increases in total trade. With both nations, their purchase of U.S. exports surged more than 70 percent in 2007 and their imports grew 10.1 percent and 24.1 percent respectively. The United States has a deficit with both.

(Actual statistics charts and numbers for this article can be found here on worldcityweb.com.)

U.S. trade breaks $3 trillion mark; first deficit decline in 15 years

February 15th, 2008

First of Four Articles: A Look at the Top Customs districts

U.S. trade with the world surpassed $3 trillion for the first time in 2007, and for the first time since at least 1992, the deficit declined, according to WorldCity analysis of U.S. Census data released Thursday.

Total U.S. trade ended up at $3.1 billion for the year. The U.S. trade deficit fell from $817.3 billion in 2006 to $790.9 billion in 2007, and that decline was spread across a number of the nations leading Customs districts.

Exports, which surpassed $1 trillion for the first time in 2006, grew $126.1 billion to $1.2 trillion while imports grew $99.8 billion, finishing slightly short of the $2 trillion mark.

Exports surged and imports slowed because of the declining power of the U.S. dollar against most of the worlds currencies, the weakness in the U.S. housing market and the continuing increase in the cost of imported oil.

The strength of exports showed up in a number of leading trading communities across the nation.

This article looks at the year in trade through the prism of the Customs districts. It will be followed in the coming days by articles that focus on the top trade partners, the top exports and the top imports. (Chart below)

Seattle registered the nations largest trade surplus in history, at $15.8 billion, breaking the mark held since 1997 by the Miami Customs district. Miami, the only Customs district to have had a continuous surplus for since 1992, also broke its record as well in 2007, at $11.9 billion.

On the other end, Los Angeles broke its previous record, set in 2006, to register the largest trade deficit in history, at $149 billion but the increase was a mere 0.29 percent as trade with many of its Asian partners, excluding China, slipped. And, at the same time, it surpassed $100 billion in exports for the first time ever, a feat previously accomplished by New York and Detroit.

Among the nations Top 10 Customs districts, New York, Detroit and Houston saw their deficits decline most significantly. The biggest deficit increase among all Customs districts was for No. 7 Chicago, where it jumped $7.8 billion.

Charleston, S.C., was the nations fastest-growing Top 25 Customs district, growing at 15.4 percent, and topping $50 billion for the first time. That is a 91 percent increase since 2002, and the South Carolina Customs district, which ranked No. 19 then, moved up two more slots in 2007 to finish at No. 16 in the nation, fast on the heels of the 15th-ranked Dallas Customs district.

Also growing rapidly in the Top 25 were No. 4 Houston and No. 5 New Orleans, both growing in excess of 14 percent. Oil is a key import for both.

Overall, many Customs districts registered increases in the number of countries with which they conduct at least $1 billion in two-way trade.

There are 34 nations in Los Angeles Billion Dollar Club, up from 31 in 2006. The new nations with more than $1 billion in total trade are Chile, Austria and the United Arab Emirates. Austrias trade more than doubled and the UAE increased almost 80 percent.

Houston has 38 nations in its Billion Dollar Club, having added four from 2006. The four additional nations with at least $ billion in annual trade are Denmark, Libya, Australia and Honduras.

New Orleans has 36, adding Australia and Argentina. Argentinas trade with the New Orleans Customs district increased 71 percent.

Twenty-three nations are now part of the Savannah Customs districts Billion Dollar Club, with India, Turkey, Trinidad and Tobago, and Hong Kong surpassing $1 billion in annual trade in 2007. It was just 12 nations for the Georgia Customs district in 2002.

In Charleston, a record 14 nations joined its Billion Dollar Club, up from 11 the previous three years. In Miami, the record number is 23, an increase of two over the previous year. The additions are Japan and Paraguay. Chicago also has 23 billion-dollar trade partners, with the Philippines and Spain joining the list in 2007.

Seattle remained constant at 19 nations in its Billion Dollar Club, adding Indonesia, Russia and Brazil in 2007 while dropping Australia, Angola and New Zealand.

(Actual statistics charts and numbers for this article can be found here on worldcityweb.com.)

Annual U.S. trade with a record 44 nations will exceed $10 billion

January 19th, 2008

The U.S. will have more than $10 billion in annual trade with a record 44 nations when annual statistics are released next month, up five from the record set the previous year.

New to the $10 Billion Club will be a diverse group: Vietnam, Trinidad and Tobago, Norway, the Dominican Republic and Argentina, according to WorldCity projections based on U.S. Census data through November.

Five years ago, in 2002, there were 28 nations with more than $10 billion in two-way trade with the United States.

(See chart below.)

In fact, when the annual numbers are released, all but eight of the United States Top 100 trade partners will exceed $1 billion in total trade, up three from the previous year when the total was 89.

While the U.S. trade deficit will shrink for only the second time in the last 15 years and overall trade growth will have slowed when compared to recent years, there are several milestones that will be reached and other high points:

 Japan will have surpassed $200 billion in two-way trade with the United States for the first time, the fourth nation to have done so. Canada surpassed $500 billion and China and Mexico each passed $300 billion in 2006.

 The United Kingdom will have broken the $100 billion barrier for 2007.

 The Netherlands, Brazil, Venezuela and Italy are all knocking at the door of the $50 billion barrier through the first 11 months of the year, with the Netherlands and Brazil most likely to make it.

 Singapore and Saudi Arabia both crossed over the $40 billion threshold for the first time in November.

 Among the United States Top 50 trade partners, only one will have grown at more than a 30 percent clip year over year: India, behind U.S. exports growing at a 75 percent clip.

 Among the United States Top 100 trade partners, where the dollars are smaller, the fastest-growing in percentage terms are Azerbaijan (111.3 percent), Belarus (86.1 percent), Gabon (85.6 percent) and Qatar (78 percent).

 Despite the overall decrease in the trade deficit, the U.S. deficit with China continues to grow and will likely have surpassed $250 billion for the first time in 2007.

On the down side, six nations in the Top 50 will have seen their two-way trade with the United States decrease in 2007 Malaysia, which was down 10.4 percent through November; Sweden, which was down 2.2 percent; the Philippines, down 1.8 percent; Singapore, 3 percent; the United Arab Emirates, down 3.9 percent; and Turkey, off 0.8 percent.

(Actual statistics charts and numbers for this article can be found here on worldcityweb.com.)

Local Media Coverage on Global Economic Impact Study (Miami Herald, Sun-Sentinel, etc.)

January 18th, 2008

Multinationals drawn to S. Florida

By Doreen Hemlock
South Florida Sun-Sentinel
January 17, 2008

South Florida often is perceived as a haven for sun and fun, but the area is home to nearly 1,200 offices of multinational companies that garner more than $200 billion in revenue an amount almost as big as the economy of Venezuela or Argentina.

Those are among the findings of a study unveiled Wednesday by Coral Gables-based media company WorldCity and The Beacon Council, Miami-Dade County’s economic development partnership.

The study is the first to quantify the revenue managed by multinationals such as Office Depot, DHL and General Motors in South Florida offices. They handle areas that vary from the entire world to all of the Americas or sometimes, only a local region.

Economic development leaders hope the new data will help lure more businesses to South Florida, especially companies from Europe and Asia looking to manage Latin American and Caribbean operations from a convenient hub.

“This gives us the ammunition when we go to recruit other companies,” said Frank Nero, president of The Beacon Council, at an unveiling of the study for the media Wednesday.

South Florida’s strong and diverse global links from car sales in South America to fuel sales in Asia will help the area weather a potential recession better than other U.S. regions that are more closely tied to one industry or only to their local market, leaders said.

“I think the numbers of companies and size of their revenues will amaze many people and show the substance of what’s driving the South Florida economy,” added JT Tarlton, president of The Broward Alliance, the economic development partnership for Broward County.

For example, the study shows that General Motors operates a little-known office in Miramar in southwest Broward that oversees fast-growing sales in Latin America, the Middle East and Africa that reached $14.6 billion in 2006.

In all, the South Florida offices of 1,183 companies from 56 countries totals $202.8 billion more than double the size of the economy of Miami-Dade County and more than the economies of Chile or Colombia, the research found.

That count is conservative, too, because researchers tallied only those revenues they could confirm and did not extrapolate or apply economic models, said Ian McCluskey, publisher of WorldCity Business magazine.

The research looked only at companies that have an office in South Florida and in another country. It did not count, for example, companies that have sales in Latin America but no office there, or operate stores in South Florida but have no office here.

The true revenues managed may be $40 billion to $50 billion more, because many smaller multinationals with South Florida offices did not provide data, McCluskey said.

The study identified 41 multinational companies that manage more than $1 billion in revenues from their South Florida offices. Top on the list is Delray Beach-based office supply giant Office Depot, which oversees global sales of about $15 billion. GM’s Miramar operation is second on the list, with $14.6 billion in revenues for 2006.

Of the 41 companies, 27 had offices in Miami-Dade, nine in Broward and five in Palm Beach County, the research found. The study is to be formally presented tonight in Coral Gables at an event to be attended by corporate executives.

____

Posted on Thu, Jan. 17, 2008

Study shows ‘power’ of S. Fla. multinationals
www.miamiherald.com
By JIM WYSS

South Florida is home to almost 1,200 multinational corporations from 56 countries. And if their $203-billion combined revenue was measured as gross domestic product, they would rank as the world’s 46th largest economy—just behind Portugal and just ahead of Chile.
Yet South Florida’s multinational sector is largely overshadowed by the glitzy tourism industry and the roller-coaster real estate market.

A new study by WorldCity Business Magazine with the backing of the Beacon Council, Miami-Dade’s economic development agency, hopes to shed some light on the ‘’submerged’’ multinational economy.

The study, which will be officially unveiled Thursday, found that at least 1,183 multinationals call South Florida home. And the top-20 multinational employers account for 180,000 local jobs.

‘’Whether it’s a global headquarters like Burger King or a regional headquarters like HP Latin America, this study reveals the power and global reach of South Florida’s multinational business community,’’ WorldCity Publisher Ian McCluskey said.

Among the corporate ranks are 41 firms—all with at least a regional presence here—that recorded a billion dollars or more in annual revenue. Of those, 27 are in Miami-Dade, nine are in Broward and five are in Palm Beach County.
Topping the list are Office Depot, General Motors, Carnival Corp. and World Fuel Services—all with revenue in excess of $10 billion. All have their global headquarters here save GM, which runs its Latin America, Africa and Middle East divisions from offices in Miramar.

MYTHS BUSTED

The report, titled South Florida Global Economic Impact Study, is one of the most comprehensive of its kind and might help dispel some South Florida myths, said Beacon Council President and Chief Executive Frank Nero.
Nero said that when he goes on trips around the globe to encourage companies to locate here one of the first questions is: ``Do you do business there?’’
‘’Miami is not just a fun-and-sun capital,’’ he said, but rather ``truly what we want it to be—a global business center.’’

While South Florida bills itself as the gateway to Latin America, its multinational community has a decidedly European flavor. After U.S. companies—659 of which have offices here—come the United Kingdom and Spain with 59 each and France with 46.

When Airzone, a Spanish air-conditioning giant that has extensive operations throughout Europe and the Middle East, wanted to start a North American division in 2006, Miami was a natural choice. Not only was Florida amid a building boom that promised lucrative contracts, ‘’but the language and culture are similar to ours, which makes it easier,’’ said Airzone USA General Director Xavier Arias. ``Also, there are daily flights from [Spain] to Miami, which makes it very convenient.’’ Airzone has three employees at its 1,300-square foot office in Miami—but hopes to expand in the future.

To make the multinationals list, companies had to be operating in at least two nations and have a corporate presence here—not merely a retail outlet. Compiling the data was not easy, said McCluskey. There is no central database where multinationals must register and most are under no obligation to disclose sales figures.

CORPORATE SECRETS

Of the 1,183 multinationals researchers identified in South Florida, only 728 provided revenue data. If that missing revenue were added to the total, the sector would likely be worth $250 billion to $300 billion, he said.

South Florida’s strategic location at the center of Latin America, North America and Europe have made it an attractive choice for multinationals looking for a foothold in the region, but competition is fierce, Nero said.

New York, Houston and Atlanta have marketing budgets of $82 million, $40 million and $23 million, respectively, Nero said. Miami-Dade County, by comparison, has a budget of just $1 million a year to attract global headquarters.

That discrepancy shows that even the state’s lawmakers are unaware of the power, and potential, of wooing multinationals, he said.

‘’We need more understanding by our elected officials of what’s driving the economy,’’ he said. ``I don’t think the state understands you cannot market worldwide. . . with the resources we have.’’

2008 Miami Herald Media Company. All Rights Reserved.
http://www.miamiherald.com
____

Posted on Mon, Feb. 11, 2008

South Florida attracting more multinational firms

BY MICHAEL DIAZ JR.

As one of the world’s three most diverse areas (Dubai and Toronto top the list), South Florida offers multinational corporations a vibrant and attractive locale for either a regional or global base for operations.

Hailing from more than 50 countries, some 1,400 South Florida multinational companies—a number expected to grow exponentially over the next decade—produce more than $200 billion in annual revenue, according to a recent Beacon Council and WorldCity study. Yet these staggering numbers could easily double over the next five years as free trade agreements proliferate and South Florida’s ‘’secret’’ spreads: We are much more than just the ‘’Gateway to Latin America’’—we’re a global launching pad.

BANKING CENTER, TOO

Certainly South Florida’s strategic location between Latin America, Europe and North America helps lure multinational corporations to the area. But that’s just part of the attraction. In addition to the obvious advantages presented by a multiethnic and multilingual community and workforce, South Florida boasts the largest concentration of banks south of New York City, with more than $60 billion in deposits—much of it coming from Latin America, second only to Europe, the Middle-East and Africa as a source of multinational investment.
What does this all mean for South Florida’s economy and future? Certainly in the short term, European companies will take advantage of the weakened U.S. dollar to increase their South Florida investments. But our solid historical positioning as the ‘’Gateway to Latin America’’ bodes an even brighter future.

GOOD GROWTH

Recent statistics from Washington, D.C.-based Inter-American Dialogue show that Latin America as a whole has sustained three consecutive years of economic growth, with inflation the lowest since the 1960s. From 2002 to 2006, some 15 million Latin American households climbed above the poverty line. China’s growing demand for Latin America’s raw materials and energy products will continue to fuel regional economic growth. In fact, in the first three quarters of 2007 Latin America received—for the first time in history—more than $100 billion in direct foreign investment.

This economic boom—and anticipated free trade agreements with Colombia, Panama and South Korea (which claims twice as many South Florida-based multinational corporations as Costa Rica, El Salvador, Guatemala and Nicaragua combined)—promises to fuel demand for goods and services here as Latin Americans’ purchasing power continues to grow.

Multinational corporations looking to cash in on the region’s growth cannot be far behind.
International trade’s direct economic benefits—increased sales and profits for U.S. businesses—strengthen our local economy. In addition, regional economic growth spurred by international trade strengthens foreign relationships. The resulting interdependence helps alleviate pressing social problems and minimizes the potential for conflict on sensitive issues such as illegal immigration, unemployment and environmental concerns.

FREE TRADE

While Congressional debate rages on the pros and cons of free trade agreements, both sides recognize a crucial fact of global economic life: The U.S. continues to fight a pitched battle to secure competitive advantages for its products and services in an increasingly complex global marketplace. The agreements play a crucial role in securing such advantages. Exports to free trade agreement partners have grown twice as fast as those to other countries.
Last year $72 billion in trade passed through Miami alone—including 60 percent of all U.S. trade with Central America. Further, the next decade should see a marked increase in Chinese and other Asian businesses in South Florida as they use South Florida ports and resources as a platform for their Latin American investments.

Continued economic growth stimulated by free trade agreements and increasing direct foreign investment in Latin America, coupled with South Florida’s diversity and trade facilities, make the prospect of many more multinational corporations moving to South Florida a sure bet.

Michael Diaz Jr. is a founding partner of Diaz, Reus, Rolff & Targ in Miami and the managing partner of the Litigation and Alternative Dispute Resolution Group of DRRT.
__

2008 Miami Herald Media Company. All Rights Reserved.
http://www.miamiherald.com

Beacon Council Press Release: "South Florida Global Economic Impact Study Reveals Region�s Economic Muscle"

January 17th, 2008

NEWS RELEASE
For Immediate Release

CONTACT:

Aurelia Vasquez – Communications Manager, Beacon Council
Office: 305-579-1341 / Cell: 305-606-3723
avasquez@beaconcouncil.com

Robert Cadogan – Burson-Marsteller
(305) 347-4305 / robert.cadogan@bm.com

South Florida Global Economic Impact Study Reveals Regions Economic Muscle

_$200 billion sum rivals GDP of several Latin American countries_

MIAMI-DADE, FLORIDA January 17, 2008—- Nearly 1,200 multinational companies, 41 of them billion-dollar companies, collectively manage over $200 billion in revenue from South Florida. This economic assessment is among the new findings to be revealed and discussed at the South Florida Global Economic Impact Study Panel Discussion, featuring South Floridas CEOs, The Beacon Council and WorldCity Business at the Coral Gables Country Club at 1007 South Greenway Drive, in Coral Gables, Florida on Thursday, January 17 at 4:00 p.m.

A first-of-its-kind endeavor, the South Florida Global Economic Impact Study tracks and quantifies South Floridas growing role in global economic decision-making, culling data from a wide variety of primary and secondary sources to provide a central source for accurate, up-to-date figures on the region. The data reflects managed revenue by multinationals in South Florida and includes breakdowns by country of origin and employees, both local and managed abroad.

WorldCity and The Beacon Council are hosting the Thursday panel discussion, which will gather over 150 South Florida CEOs, to examine what the study means for the South Florida economy and how CEOs can apply the findings to grow their operations from Miami into their target markets.

The combined revenue managed by South Florida’s 1,200 multinational companies rivals the GDP of several Latin American countries,” said Ian McCluskey, Publisher of WorldCity Business magazine. “Whether it’s a global headquarters like Burger King or a regional headquarters like HP Latin America, this study reveals the power and global reach of South Florida’s multinational business community.”

Some key findings in the study include:

(a) 232 of the companies studied have global headquarters based in South Florida.

(b) The average revenue for companies with global headquarters in South Florida is $434 million.

(c) At $203 billion, the revenue managed by South Florida multinationals is nearly the size of the GDPs of Argentina ($248 billion) and Venezuela ($227 billion) and larger than that of Colombia ($172 billion) and Chile ($161 billion).

(d) While companies from Europe and the United States have long seen Miami as the gateway to the Americas, the data show that a large number of multinational companies originated elsewhere. The study found 27 companies from Canada, 116 from Latin America and the Caribbean and 76 from Asia. Europe accounts for 305 companies while the United States for 659.

(e) The billion-dollar club is made up of 27 Miami-Dade companies, 9 Broward-based companies and 5 Palm Beach County companies. It includes household names, such as Carnival, Citrix and Office Depot, but also a few surprises, like GM, Microsoft, Danone, Nokia and AIG.

The Beacon Council, Miami-Dades official economic development organization, assists multinationals of all sizes in establishing or expanding their operations in Miami-Dade County. Frank Nero, President and CEO of The Beacon Council, supported the study and its findings, saying, South Florida is emerging as a global business destination. Over the past ten years we have diversified our economy and created a regional force that is attracting multinationals across all industry sectors. Their role in our local economy can not be overstated; as they grow and their activities grow, our communities benefit by the new investment and job opportunities created.

Both WorldCity and The Beacon Council cite that it is important for the community as a whole to encourage more companies to establish regional or global headquarters, as well as promote the attractive economic climate. Among the many factors that contribute to the success of the companies covered in the study are: a favorable tax advantages, excellent transportation and technological infrastructure, and a skilled multilingual and multicultural workforce.

The roster of major sponsors for the Global Economic Impact Study conveys both the diversity of the region and the importance of the report. Sponsors include HP Latin America, Blue Cross Blue Shield of Florida, Baptist Health, the University of Miami School of Business, Telefonica USA, Seitlin Insurance, C.B. Richard Ellis, Diaz Reus Rolff & Targ, and Auxis Consulting.

Baird Lobree, President & CEO of Auxis, Inc., is one of the intellectual architects of the study. Lobree stated We applaud WorldCity and The Beacon Council for taking on the tremendous effort to capture the size, strength and power of the South Florida economy. The assets and revenue under management study of South Florida business has been long overdue. It tells and sells South Floridas compelling business value story!

More information on the South Florida Global Economic Impact Study is available at www.worldcityweb.com.

# # # # #

About The Beacon Council

The Beacon Council, Miami-Dade County’s official economic development partnership, is a not-for-profit, public-private organization that focuses on job creation and economic growth by coordinating community-wide programs; promoting minority business and urban economic revitalization; providing assistance to local businesses in their expansion efforts; and marketing Greater Miami throughout the world.

About WorldCity

WorldCity is a media company focused on South Floridas role in the global economy. Through our monthly publication WorldCity Business, our multinational directory Whos Here, eight annual publications including Miami TradeNumbers, U.S. TradeNumbers and Americas TradeNumbers, as well as our monthly breakfast series Connections and our CEO Roundtable, WorldCity unites the international business community of South Florida.

Annual trade growth forecast to slow but numerous records still will fall

January 17th, 2008

U.S. trade with the world in 2007 will have grown at the slowest pace since 2003, when annual statistics are released next month, according to WorldCity projections of U.S. Census data.

But annual trade will have surpassed $3 trillion for the first time ever, on record exports and record imports.

Exports, which surpassed $1 trillion for the first time in 2006, surpassed that total through 11 months of the year, with a value of $1.06 trillion. Imports stood at $1.8 trillion through November, the most recent statistics available, but will almost certainly narrowly have missed $2 trillion in 2007.

The trade deficit will have declined for only the second time in the last 15 years. Through November, it stood at $730.9 billion. The record deficit, set almost annually for many years, stood at $817.3 billion at the end of 2006. The 2007 deficit will likely have been in the range of $800 billion, when the statistics are released.

The only other time the deficit has decreased since 1992 is in 2001, when it fell from $436.1 billion to $411.9 billion.
That year, total trade also fell, and it fell again in 2002 in the aftermath of the Sept. 11 al-Queda terrorist strikes on New York City and Washington, D.C.

Total U.S. trade began to recover in 2003, increasing 6.9 percent after having fallen 0.8 percent in 2002 and 6.5 percent in 2001. The next three years were buoyed by double-digit gains 15.5 percent in 2004, 12.7 percent in 2005 and 12.1 percent in 2006.

In 2007, the deficit will have fallen due largely to a lack of confidence in strength of the U.S. economy, which has resulted in the dollar falling to its lowest point against many of the worlds currencies in a generation. As the dollar falls, U.S. exports are relatively less expensive and U.S. imports are relatively more expensive.

The Seattle Customs district will be the first in the nations history to have a $15 billion annual surplus. Its numbers rise and fall with the fortunes of Boeing, and only two years ago, it ran a $2.9 billion deficit. As the global economy has taken hold, Boeing has received orders for planes from all over the world, from China to the United Arab Emirates. Seattle is the nations seventh-ranked Customs district.

The Miami Customs district will nearly match its record trade surplus of $11.5 billion set in 1997, before the collapse of Argentina and the rise of Chinese imports into the East Coast of the United States. Through the first 11 months of the year, the Miami Customs district surplus stood at $10.4 billion. Miami is the nations 13th-ranked Customs district in dollar terms.

Other developments of note:
 New York City will have come close to surpassing $200 billion in imports in 2007, a milestone Los Angeles surpass in 2005 for the first time. Los Angeles is the nations No. 1-ranked Customs district; New York is No. 2.
 Laredo will likely have narrowly missed surpassing $100 million in imports in 2007. The nations sixth-busiest Customs district, the border town is overwhelmingly dependent on its trade with Mexico.
 New Orleans will have slipped ahead of Laredo and Seattle almost certainly slipped by Chicago when the annual stats are released. Through 11 months, New Orleans stood at $158.3 billion in total trade and a No. 5 ranking while Laredo was at $155.1 billion. Seattle is in more of a horse race with Chicago for the No. 7 ranking. The difference between the two was less than one-half of one percent, or $644 million.
 New York will lead the nation in exports for the first time since 1994. In the intervening years, that distinction has gone first to Los Angeles and more recently Detroit. Through 11 months, New Yorks exports stood at $113 billion, just shy of the annual record set by Detroit in 2006 of $113.7 billion. Detroit, which sits across Lake Michigan from Canada, the nations No. 1 trade partner, is the nations No. 3 Customs district.
 Los Angeles will narrowly miss being the third Customs district with more than $100 billion in exports. At 11 months, its total stood at $91 billion.
 The New Orleans Customs district is likely to have surpassed $50 billion in exports for the first time in 2007, or fall just shy. It is the nations fifth-leading Customs district due to its pivotal positioning on the Mississippi River.
 The Savannah Customs district, which includes the entire state of Georgia and is the nations 10th-ranked Customs district, will have surpassed $30 billion in exports for the first time in 2007 while Miami will have surpassed $40 billion for the first time. Both crossed those marks through November, respectively.
 New York will have become the second Customs district to surpass $300 billion in total trade when the annual statistics are released. Through November, its total stood at $296.9 billion.

(Actual statistics charts and numbers for this article can be found here on worldcityweb.com.)

U.S. exports to Putin's Russia growing far faster than national average

December 23rd, 2007

Vladimir Putin, named Times Person of the Year for 2007 in this weeks issue, might be a controversial and surprising selection, but oil-rich Russias economic performance under his leadership is clear from U.S. trade statistics.

Putting Russia back on the world stage

Among the Top 50 trade partners with the United States, only India and Vietnam have seen their U.S. exports grow at a faster rate in 2007, when compared to the same 10-month period in 2006. U.S. exports to Russia have grown 53.1 percent, while Indias have grown 71.5 percent and Vietnams 62.2 percent, according to WorldCity analysis of the most recent Census data.

Over the longer term, in just the last five years of Putins leadership:
—U.S. trade with Russia has increased at almost three times the national average, up 193 percent compared to 67 percent for the world as a whole;
—Russia is now the United States 20th-leading import partner, up from 27th in 2002;
—On the export side, Russia is now the United States 30th-leading partner, up from 39th in 2002.

Russian oil makes it all possible, of course. Refined petroleum and crude oil make up more than 50 percent of the Russian imports into the United States. Those also fuel the economy, creating the market for U.S. exports.

On the import side, the leading U.S. Customs districts handling Russian trade are New Orleans, Houston, New York and Baltimore. On the export side, New York, Houston and Baltimore are host to the leading airports and seaports.

More than anything, Russia buys U.S. poultry, and the increase in 2007 is more than 75 percent. About 70 percent of that poultry leaves through the Mobile, Ala., Customs district. But the signs of a growing economy are evident in the other top U.S. exports cars, aircraft, machinery parts and tractors. U.S. cars headed to Russia have increased 73 percent through October of 2007, when compared to 2006, and tractors have more than doubled, up 124 percent.

Others show the influence of the city with more billionaires than any other, as the Time coverage of Putins reign points out. The category of paintings, drawings and other artwork jumped from the 92nd leading U.S. export to No. 26 on an increase of more than 400 percent. The category of make-up and skin-care products has nearly tripled in 2007, jumping from No. 66 to No. 23, two ahead of almonds, walnuts and pistachios, both pointing to a society with more disposable income.

Visit our interactive World Trade Map to research Russia’s historical trade with the United States.

(Actual statistics charts and numbers for this article can be found here on worldcityweb.com.)

Baltimore, N.Y. among big gainers in exports

December 21st, 2007

Behind a banged-up U.S. currency, exports are increasing far faster than imports in percentage and dollar terms in 2007, and that is showing up in Baltimore, Puerto Rico, Houston, New Orleans and New York.

In particular, Baltimores exports are up almost 45 percent through October, according to WorldCity analysis of the most recent statistics available from U.S. Census. The big increase is in car exports, which have increased from $1.9 billion to $3.5 billion year over year, an 88.6 percent increase year over year.

Baltimore, which ranked fifth in the nation in car exports in 2006, now ranks third, having moved past the border crossing Customs districts of Buffalo, N.Y., and Laredo, Texas. Detroit is overwhelmingly No. 1, followed by the cars exported from Jacksonville, Fla., which is part of the Tampa Customs district.

Cars from GM, Chrysler and Ford leave from Baltimore, and those cars are now considerably less expensive in the Middle East, Europe and elsewhere. In the Top 10 are three Middle Eastern nations No. 1 Saudi Arabia, No. 6 United Arab Emirates and No. 10 Kuwait. Germany, the United Kingdom and Italy are Nos. 2-4, followed by No. 5 Australia. Spain, France and Belgium are also in the Top 10.

Tractors are also leaving through Baltimore, led by a 157 percent increase in shipments destined for Russia, and a 177 percent increase in those headed for Ukraine. Through 10 months, the total tractor exports from Baltimore topped $1 billion, up from $787 million through the first 10 months of 2006 and up from $342.6 million in the same period of 2002. Of that $1 billion, $297.7 million were on their way to Russia.

Tractors are the second-leading export from Baltimore after cars.

Baltimore, the nations No. 21-ranked Customs district in 2007, has seen its exports increase from $8.1 billion to $11.8 billion, a $3.6 billion increase.

New Yorks exports have increased $15.7 billion, Houstons $12 billion and New Orleans $9.3 billion.

The biggest increase in New Yorks exports is in gold, the No. 2 overall export, which has increased $2.5 billion year over year, or 72.4 percent. The price of gold has been soaring on world markets, and it was over $800 an ounce in late December. About half of all that gold is bound for Switzerland.

New Yorks No. 1 overall export, diamonds, increased $1.5 billion through the first 10 months of the year, or 19 percent. As was the case in Baltimore, the value of car exports is up sharply in New York—$969.4 million, or 60.5 percent. Another big increase is the export of waste and scrap precious metals an increase of 187 percent, or $830 million.

New York remains the nations No. 2-ranked Customs district, behind Los Angeles but it has moved ahead of Detroit to become No. 1 in exports.

In terms of overall trade, the U.S. total through 10 months was $2.6 trillion through the first 10 months of the year, a 7.1 percent increase. In percentage terms, the fastest-growing Customs districts among the Top 25 were San Juan, Puerto Rico, up !4.9 percent, followed by Charleston, S.C., up 13.7 percent; Norfolk, Va., 13.5 percent; and Savannah, Ga., up 13.4 percent.

(Actual statistics charts and numbers for this article can be found here on worldcityweb.com.)

Aircraft, corn, gold exports growing rapidly

December 18th, 2007

The U.S. trade deficit continues to decline on the strength of surging exports of aircraft, printers, corn, wheat, landline phone equipment, gold, and scrap iron and steal — and tepid growth on the import side.

With imports, the United States is experiencing year-over-year declines in cars, computers, computer parts, computer motherboards and cell phone equipment, according to WorldCity analysis of Census statistics through October, the most recent available. Even the value of oil imports has risen only 1 percent.

See Export, Import and Country tables below.

The United States trimmed $32.4 billion from the deficit it registered through the first 10 months of 2006, leaving it at $659 billion through October of 2007. That figure is, nevertheless, higher than it was for the same period in 2005, when it stood at $631.8 billion.

The United States improved its trade balance with 165 nations, when compared to the same period of 2006, and saw its trade position falter with 73 nations.

The most improvement came in trade with Brazil, with a narrowing of the deficit by $5.1 billion, from $6.8 billion to $1.7 billion; Canada, $5.1 billion, from $60.4 billion to $55.3 billion; India, $4.2 billion, from $10 billion to $5.9 billion; and Japan, $4.1 billion, from $73.2 billion to $69.1 billion.

The United States increased its deficit with China by $22.8 billion, from $190.7 billion to $213.5 billion; with Mexico by $6.4 billion, from $53.8 billion to $60.2 billion; and with a handful of other nations by less than $2 billion.

The United States added 16 nations to the list of countries with which it has a trade surplus, including Poland, Honduras, Lithuania, Yemen, Uruguay and Niger. All told, the United States has surpluses with 128 nations and deficits with 106.

Overall, exports increased $101.3 billion through the first 10 months of 2007, to $957.6 billion, with aircraft replacing computer motherboards as the leading export.

Motherboards slipped to No. 3 overall, behind cars, which remained the No. 2 ranked U.S. export. Exports have increased 65 percent since 2002.

Imports increased $68.9 billion through October, or 4.4 percent, to $1.6 trillion. Oil is the leading import and cars are No. 2. Over the same five-year period, imports have increased an almost identical percentage as exports: 68.5 percent.

(Actual statistics charts and numbers for this article can be found here on worldcityweb.com.)

Slumping dollar means surging exports

November 13th, 2007

The drooping U.S. dollar is boosting exports at triple the rate of imports, increasing the number of nations with which the United States has a surplus, and narrowing deficits at Customs districts around the country.

The United States trade balance improved exports grew faster than imports with 157 nations while worsening with 76, according to WorldCity analysis of the most recent U.S. Census data, released Nov. 9 and covering the first nine months of 2007.

A big factor is the weakness of the dollar. The U.S. dollar has fallen against the Euro to record lows, against the Japanese yen, against the British pound, the Canadian dollar and many other of the worlds currencies. Chinas yuan does not float freely against the U.S. dollar, and Chinese exports and the U.S deficit with China continue to grow.

Other highlights:
—The United States registered a trade surplus with 127 nations, a deficit with 105. (See chart below.) Through the first nine months of 2006, the previous year, the total was 115 and 114, respectively.
—Twenty-nine Customs districts improved their trade balance while 18 saw it worsen. Houston and New York, both of which have significant deficits, had the biggest change in the trade balance, shrinking the imbalance.
—Seattles trade surplus, the largest and one of the few in the nation, is on pace to set a record, surpassing $11.5 billion in September, up from $6.4 billion through the first three quarters of 2006. Seattle is home to Boeing, which is exporting large numbers of jets. Miami also has a large trade surplus, due to its links to Latin America. It jumped past $8.2 billion, up from $4.6 billion during the same period of 2006.

Overall, the U.S. deficit fell $36.2 billion when compared to the first nine months of 2006, from $619.9 billion to $583.7 billion. Through the first nine months of 2007, total U.S. trade stood at $2.3 trillion, up 9.5 percent. Exports have risen 11.4 percent while imports have risen 3.67 percent.

(Actual statistics charts and numbers for this article can be found here on worldcityweb.com.)

Multinational study looks at 'revenues under management' in Greater Miami area

October 31st, 2007

South Floridas multinationals oversee in excess of $150 billion in global revenues, according to ongoing and partial research being conducted by WorldCity in conjunction with the Beacon Council.

WorldCity, which maintains a Whos Here database of more than 1,200 multinational companies representing more than 55 nations around the world, all with South Florida offices, intends to complete the research in December and report on its results in early 2008 both in print and at an event.

The top local official for each of the 1,200-plus multinationals will all be invited to the event and receive a copy of a report prepared by WorldCity recapping the results of the survey.

This is an exciting survey, one that has been a long time coming, and one we are glad to be orchestrating with the Beacon Council, said WorldCity President Ken Roberts.

For a relatively small city, at least on the global scene, Miami and South Florida have outsized influence due to the concentration of not only Latin America headquarters but Americas headquarters for European and Asian nations.

In addition to the Beacon Council, the Whos Here revenue study is being sponsored by HP, CBRE, Auxis, the University of Miami, Baptist Hospital and Telefonica.

With oil above $90 per barrel, crude and China play biggest role in deficit since 1992

October 30th, 2007

The U.S. trade imbalance with China and in crude oil are accounting for the greatest percentage of the deficit in 15 years, according to WorldCity analysis of the most recent Census data.

Through the first eight months of the year, the $149 billion crude oil deficit and the $163.8 billion deficit with China are accounting for 60.2 percent of the United States $519.5 billion deficit.

Over the course of the last 15 years, when considering annual data, the range has been a low of 36.1 percent in 1998 to a high of 67.3 percent in 1992.

The big change with oil has been, of course, the increase in price, with the close on Monday nearing $94 per barrel, an increase of almost 50 percent in 2007 alone.

The China story is due not to price but quantity a tremendous surge of imports, from toys to electronics to apparel.

As we approach an election year, there will be increasing discussion of China, of oil and of the trade deficit, said WorldCity President Ken Roberts.

While the combination of high oil prices and increasing Chinese imports are playing a more and more significant role in the U.S. trade deficit, they tend to overshadow the more complete story, which includes record exports. Those exports have been increasing for years, certainly, but a weak dollar makes U.S. products that much more attractive.

(Actual statistics charts and numbers for this article can be found here on worldcityweb.com.)

Americas TradeNumbers in Spanish born of partnership with Summa Group

October 25th, 2007

WorldCity has now published Americas TradeNumbers, an annual publication that looks at U.S. trade with the leading nations of the Western Hemisphere, in Spanish in partnership with Costa Rican publisher the Summa Group.

Known as Comercio de las Americas, the publication will be distributed largely in the Caribbean Basin Central America and the Dominican Republic with additional distribution in Mexico and limited distribution in the United States in places like Miami and Houston.

We are excited to have worked with the Summa Group on this project, said WorldCity President Ken Roberts. They are a well-respected business publisher and we are gratified they were interested in working with us.

“It helps us spread the word that international trade is a good thing for all countries because of the opportunities it creates, and we hope it helps the Summa Group as well as it provides a new product to its loyal readership in the region.

The publication looks at leading imports and exports between the United States and the 22 nations whose U.S. trade exceeds $1 billion, with details on the leading Customs districts for that trade.

It is one of numerous TradeNumbers publications produced by the company, including annual products for Miami, Los Angeles, Georgia, the United States, China, New Orleans and elsewhere.

U.S. trade passes $2 trillion through August, a record

October 25th, 2007

U.S. trade with the world surpassed $2 trillion in August, the first time it has passed that mark in the first two thirds of the year.

Nevertheless, imports in particular and two-way trade in general have slowed considerably in 2007, according to WorldCity analysis of the most recently released U.S. Census data.

Overall, U.S. trade increased at 6.6 percent through the first eight months of the year, and appears to be on a path to the slowest growth in perhaps a decade or longer.

Despite the slower growth, U.S. trade remains on a path to surpass $3 trillion in 2007, when annual figures are released in mid-February. The 2006 total trade figure was $2.9 trillion. Exports surpassed $1 trillion for the first time in 2006; imports will approach $2 trillion in 2007 but are not likely to surpass that milestone until at least 2008.

The slowing import growth, fueled by a host of factors, including downward pressure on the U.S. dollar in global markets and a housing slump, led to a rare decrease in the U.S. trade deficit, from $550 billion through the first eight months of 2006 to $520 billion this year.

(Actual statistics charts and numbers for this article can be found here on worldcityweb.com.)

August is an important month. It is the month when retailer bets on the Christmas holidays start showing up in the form of Asian imports hitting ports in Los Angeles and Long Beach and, increasingly ports like Savannah, New York, Seattle and San Francisco.

Through August, Chinese imports increased 14.6 percent to $205.1 billion, almost four times the national average of 3.8 percent. But other Asian nations were either flat in imports or showed declines, including Japan (-0.8 percent), South Korea (5.8 percent), Taiwan (-0.02 percent), Singapore (5.3 percent) and Malaysia (-10 percent).

Beyond China, which saw total trade increase $31.8 billion through the first eight months of the year, the fastest-growing countries in dollar terms are Canada at $10.9 billion, Germany at $9.1 billion and Mexico at $7.2 billion.

In percentage terms, among top trade partners, Switzerland, Spain, India, Austria and South Africa all showed growth well above average, as did Algeria and Belgium and China, to a lesser extent.

The fastest-growing Customs districts, looking at year over year growth in percentage terms, were three in the Southeastern United States New Orleans, Savannah and Charleston as well as Seattle. In dollar terms, New York, Los Angeles, Houston and New Orleans grew the fastest.

(Actual statistics charts and numbers for this article can be found here on worldcityweb.com.)

Exports, in GOP debate spotlight, continue brisk, record growth

October 9th, 2007

U.S. exports continue their brisk, record-breaking growth, according to WorldCity analysis of the most recent Census data.

International trade, including exports, imports, the deficit, the impact of China on U.S. manufacturing jobs, “fast-track” authority and more, were the topic of discussion during the Republican Party debate on Wednesday night.

What no candidate mentioned was that U.S. exports exceeded $1 trillion in value for the first time in U.S. history in 2006. While imports are rising more quickly than exports in dollar terms, increasing the U.S. trade deficit, exports continue to rise more quickly in percentage terms.

Through the first seven months of 2007, the most recent data available, exports are at a record $651.9 billion, up more than 11.2 percent. Over the last five years, the percentage growth is 63.2 percent, rising to the current level from the July 2002 year-to-date level of $399.4 billion.

More significantly, the increase is widely disbursed. In 2002, 68 specific commodities were valued at more than $1 billion through July. This year, there are 138 export commodities valued at more than $1 billion through July.

Through July, 138 categories of exports exceeded $1 billion in value, an increase from 68 in 2002.

(Actual statistics charts and numbers for this article can be found here on worldcityweb.com.)

Peru FTA next in line after Costa Rica vote

October 9th, 2007

With Costa Ricans having approved ascension into the Central America Free Trade Agreement on Sunday, the next step for the Bush Administrations trade agenda is to win Congressional approval of the Peru-U.S. Free Trade Agreement.

The leading U.S. Customs districts with Peru are Miami, Great Falls, Mont., and Houston, all with more than $1 billion in total trade in 2006, according to WorldCity analysis of the most recent annual Census statistics. Fast-growing Customs districts include Los Angeles and New Orleans.

Of the four pending FTAs, Perus looks like the only one sure to pass, with Panamas a possibility, and Colombia and South Korea mired in controversy and politics and, thus, less likely.

Peruvian President Alan Garcia, opposed to free trade during his first term in the 1980s, is now a firm proponent. “More trade and more investment means less migration, less poverty and less environmental destruction, he is reported to have said during a World Trade Organization meeting held in the capital of Lima in September, before indicating a desire to have more FTAs with other nations.

The Peru-U.S. FTA, signed in April 2006 after agreement was reached at the end of 2005, has won approval of the Senates Finance Committee and the Houses Ways and Means Committee recently. Full congressional approval is expected within a matter of weeks, and certainly before the end of the year.

It is possible that it will be the last FTA agreement of the Bush Administration. If the Peru FTA goes into effect, the Andean nation will join Canada, Mexico, Chile, Costa Rica, Honduras, Guatemala, El Salvador, Nicaragua and the Dominican Republic as nations within the Western Hemisphere in FTAs with the United States.

Peru is the United States 45th ranked trade partner, the 10th overall in the Western Hemisphere. In 2006, the latest year for which statistics are available, trade increased 18.5 percent, or about 50 percent faster than the U.S. average with the world, according to WorldCity analysis.

Exports grew more quickly than imports, rising 26.8 percent compared to 14.8 percent for exports. The effect was to narrow the U.S. trade deficit with Peru to less than $3 billion.

For more information about U.S. trade with Peru and other nations within the Western Hemisphere, purchase the fifth annual Americas TradeNumbers. It offers leading imports and exports as well as top Customs districts for all 22 nations that exceeded more than $1 billion in U.S. trade in 2006.

(Actual statistics charts and numbers for this article can be found here on worldcityweb.com.)

Costa Rica vote benefits Miami, Philadelphia, Houston, Los Angeles

October 8th, 2007

A number of Customs district should benefit from Costa Rica’s apparent vote Sunday to join the Central America Free Trade Agreement, but none as much as Miami.

The South Florida Customs district accounted for almost 50 percent of Costa Rica’s trade with the United States in 2006, according to WorldCity analysis of U.S. Census data.

But while Miami almost accounts for a majority of the two-way trade, other Customs districts are seeing their share grow more rapidly.

Miami’s increase in 2006 was 9.9 percent, slower than the U.S. average of 13.7 percent. Growing the fastest were No. 2 Philadelphia, with an increase of 31.5 percent; No. 4 Los Angeles, up 23.9 percent; No. 6 Tampa, 36.6 percent; No. 7 Cleveland, up 158 percent; and No. 11 Savannah, up 38.9 percent.

Leading Costa Rican imports into the United States, which increased 12.6 percent in 2006, were medical instruments, fruits and computer parts

Leading U.S. exports to Costa Rica were led by computer chips, which accounted for almost one-fourth of the total value.

Costa Rica becomes the final Caribbean Basin nation to join DR-CAFTA, following Guatemala, Honduras, El Salvador, Nicaragua and the Dominican Republic.

In addition to the DR-CAFTA nations, the United States has free trade agreements with Canada, Mexico and Chile in the Western Hemisphere.

The U.S. Congress is considering ratification of the Peru free trade agreement, and approval is expected before the end of the year. A similar treaty with Colombia, as well as one with Panama, are less likely to pass Congress.

The United States and 33 nations in the Western Hemisphere spend years trying to pass the Free Trade Area of the Americas, a hemispheric-wide agreement.

In the United States, that effort began with the first President Bush, continued under former President Clinton but fizzled under the current President Bush largely due to lack of progress between the United States and Brazil over agricultural issues.

More information is available in WorldCity’s Americas TradeNumbers publication, which can be purchased on-line. The publication provides an overview of U.S. trade with the 22 nations in the Western Hemisphere with at least $1 billion in annual U.S. trade.

(Actual statistics charts and numbers for this article can be found here on worldcityweb.com.)

U.S.-Burma trade vaporized in 2003

September 30th, 2007

The worlds attention has once again focused on Burma, an Asian nation with oil and natural gas reserves whose military dictatorship is clamping down on pro-democracy protests led by Buddhist monks.

U.S. trade with Burma, or Myanmar, as the military leaders want it called, is relatively non-existent, due to an import ban passed by Congress in 2003. At that time, Aung San Suu Kyi, first elected in 1990, had been imprisoned once again.

The Nobel Peace Prize winner and head of the National League for Democracy has spent most of the last 18 years in prison or under house arrest.

Through the first seven months of the year, U.S. trade with Burma was $7.2 million, a 51 percent increase over the previous January through July period but a mere sliver of the $225.6 million July 2003 year-to-date figures, before the congressional action.

At that time, the leading imports from Burma related not to energy but apparel sweaters, mens coats, boys shirts, womens blouses and most of it entered the United States through either New York or Los Angeles.

The 2007 trade is 100 percent exports, and imports have been virtually nonexistent since 2003.

Though the first seven months of 2007, the exports have been led by soybean oil cake, phone equipment and automobiles.

In July of 2003, Burma was the United States’ 98th-ranked trade partner. Through of the first seven months of 2007, Burman was ranked No. 200.

(Actual statistics charts and numbers for this article can be found here on worldcityweb.com.)

Inaugural New Orleans TradeNumbers published

September 27th, 2007

WorldCity announced the release of its inaugural edition of New Orleans TradeNumbers, an annual publication that looks at the leading trade partners, top imports and top exports for the nations sixth-busiest Customs district.

It is being released in time for the Journal of Commerce’s Breakbulk Conference in New Orleans in October, sponsored by the Port of New Orleans.

We are excited about launching a publication for the New Orleans area, said WorldCity President Ken Roberts. In an area often yearning for good news, good economic news, this is it. New Orleans trade with the world increased at nearly 50 percent faster than the rate for the United States as a whole.

The publication, co-sponsored by the Port of New Orleans and the Port of South Louisiana, two of the nations busiest seaports, is one of a series of TradeNumbers publications produced for the nations leading Customs districts.

Other TradeNumbers publications produced in 2007 include Miami TradeNumbers, now in its seventh year; Americas TradeNumbers, now in its fifth year; Los Angeles, U.S. and Georgia TradeNumbers, all in their second year; and the China TradeNumbers Special Report, like New Orleans in its inaugural year.

WorldCity will next be producing a version of Americas TradeNumbers, which focuses on U.S. trade within the Western Hemisphere, in Spanish in October.

For more information, contact TradeNumbers Marketing Managter Sari Govantes.at 305-441-2244.