Miami Customs District Holds Onto Ranking Between San Francisco Cleveland
By Zachary S. Fagenson
The Miami Customs District for the second year in row was came in 11th in respect to dollar value of trade, even though total trade throughout the region was up about $16.4 billion.
The district, which stretches from Port St. Lucie to the Keys, registered about $95.4 billion in trade, below San Francisco’s $107.6 billion but besting the Cleveland district’s $95.4 billion.
The figures come from a recently released World City analysis of US Census Bureau data on cumulative trade during calendar year 2010.
Brazil, Colombia, Switzerland, China and Venezuela were the region’s top five trading partners.
Brazil, which businesses and economic development agencies are watching closely, register $13.3 billion in bilateral trade. Colombia followed with a little more than half that at $6.8 billion and Switzerland came in third with $5.4 billion.
The region’s biggest import in 2010 was gold, which came in at $3.2 billion, followed closely by $2.9 billion worth of oil.
Rounding out the top five imports were $3.7 billion worth of landline and cellular phone equipment, $1.5 billion in imports of returned exports and $1.3 billion worth of computer parts.
On the export side, $5.2 billion worth of air plane parts were shipped out along with $4.9 billion worth of scrap precious metals, $3.7 billion of landline and cellular phone equipment, $3.5 billion worth of computers and just under $2 billion worth of computer parts.
The best news, however, seems to be that Miami trade has more than climbed out of the slump of recent years. Trade through the district in 2008 came in at $90.2 billion, a sharp increase over the $79 billion the previous year. In 2009, as the US and world economies tanked, trade through the region sank back down to $79.1 billion. Last year trade climbed to more than $95 billion, setting a record for the district.
This figure, and what follows, will be closely watched. Gov. Rick Scott and President Obama have made doubling exports, in Florida and nationwide, a five-year goal and many have pegged international trade and business as the industry that led partially out of the downturn and will lead in the future.
Jobs these days can be found in international trade, healthcare and tourism. Read the complete story when you subscribe to e-Miami Today.