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Global Reach
Location, transportation, resources and diversity make Florida a leader in international trade.
Exports
New Arrivals Among the 2,300 foreign-affiliated companies in Florida in 2007 are several recent arrivals, including: Global Presence Total holdings by non-U.S. companies in 2004 (most recent data) were valued at $31.7 billion, putting Florida in 11th place among all U.S. states. In the same year, total holdings in Florida by firms with at least 50% foreign ownership reached $26.7 billion. Canada, the United Kingdom and Germany are the countries with the largest presence in Florida. The majority of foreign-affiliated holdings are in the manufacturing industry, which also is responsible for approximately 28% of jobs at foreign- affiliated companies. |
Reaching Far and Wide
Florida has 20 Foreign Trade Zones, mostly located at or near its seaports and international airports, where value can be added to foreign goods tariff-free before shipping them on to another country. These trade zones, plus solid transportation options, are two good reasons why Florida exports so many goods.
In 2006, Florida’s total exports topped $52 billion, up from $37 billion in 2004. The majority of exports leaving the U.S. from Florida are headed for destinations in Latin America and the Caribbean.
Meanwhile, the amount of Florida-origin exports also continues to increase. The latest figures show that exports grown, mined, manufactured or assembled in Florida totaled $38.5 billion in 2006, a whopping 15.5% increase over the previous year’s Florida-origin exports. Florida ranks an impressive 7th in the nation in value of origin exports. The state’s leading export category is computers and electronic products, which alone accounted for 29% ($11.1 billion) of Florida’s total merchandise exports in 2006.
Some 222 foreign destinations received exports from Florida in 2006. At $3.7 billion, Brazil remained the largest market for Florida-origin exports in 2006, while the biggest growth market, in dollar terms, was Venezuela. Export shipments from Florida to Venezuela have more than doubled in the last five years, rising from $1.2 billion in 2002 to $2.9 billion in 2006.
In addition to tangible products, Florida exports knowledge-intensive services in the legal, accounting, medical, educational and consulting fields, too. Enterprise Florida estimates that professional services accounted for as much as $23 billion in exports in 2006.
 Florida-origin phosphate moves through the Port of Tampa's Mosaic Terminal for export. [Photo: Tampa Port Authority] |
Business Beat - Week of May 3rd
