Florida's Top 5 Merchandise Trading Partners (in billions)
|
| 1 Brazil |
$13.0 |
| 2 Japan |
7.4 |
| 3 Germany |
6.4 |
| 4 Venezuela |
6.3 |
| 5 China (Mainland) |
5.8 |
Trade
A total of $115 billion in merchandise and goods moved in and out of the state of Florida via land, rail, air and/or sea in 2007.
Brazil remains the state’s top trading partner, accounting for $13 billion of that total, followed by Japan whose total trade with Florida equaled $7.4 billion in 2007. Early quarterly data from 2008 shows that trade with Brazil and Japan continues to be strong.
When tracked by region, no countries trade more with Florida than those located in Latin America and the Caribbean. A full 76% of the state’s exports head south, with Brazil, Venezuela and Colombia as the major destinations.
Florida is the nation’s 3rd largest exporter of high-tech products; sales in 2007 equaled more than $13.3 billion, an increase of more than $977 million from the previous year. Industrial machinery, computers, television equipment and surgical devices are among the state’s top exports.
Florida also has its share of so-called “invisible exports” — accounting, communications, consulting, educational, financial, legal, medical and other services. In 2007, these exports totaled $26 billion and accounted for an estimated 364,000 jobs for Floridians.
Another way to examine exports is to consider those that originate in Florida, such as goods grown, mined, manufactured, assembled or otherwise had value added in the state (regardless of where they exited the United States). In all, Florida-origin exports totaled $44.8 billion in 2007, a 16.3% increase over origin exports in 2006.
Japan and China are the top importers into the state, accounting for about $12.5 billion of imports coming into Florida in 2007. Motor vehicles are the No. 1 import to Florida from the East.
Much of the international commerce coming into and out of the U.S. travels through Foreign Trade Zones (FTZs). In Florida, businesses have access to 20 FTZs, the second largest network in the nation. While primarily located in or around the state’s international airports and seaports, FTZs also function in inland areas such as Ocala, Sebring, Sanford and Homestead. FTZs allow tariff-free value to be added to foreign goods before they are shipped on to other countries.
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