U.S. Department of Commerce ranks Miami area #5 in exports
Miami area merchandise exports increased more than 20 percent in 2011
A report recently released by the U.S. Department of Commerce's International Trade Administration showed a 20.2 percent increase between 2010 and 2011 in merchandise exports for the Miami/Fort Lauderdale/Pompano Beach metropolitan statistical area (Miami MSA). The report showed that the Miami MSA registered $43.1 billion in merchandise exports for 2011 compared to $35.9 billion for 2010, an increase of $7.3 billion.
The extraordinary growth registered by the Miami MSA allowed it to be ranked as the fifth highest metropolitan statistical area exporter compared to other regions across the country. Key merchandise export categories for the Miami metropolitan area in 2011 included computer and electronic products, transportation equipment, machinery (except electrical), chemicals, and miscellaneous manufactured commodities. Top export markets for Miami included Brazil, Venezuela, Colombia, Mexico, and Switzerland.
"This very positive report from the Department of Commerce confirms the tremendous success our international trade initiatives at Miami International Airport and Port Miami continue to have," said Miami-Dade County Mayor Carlos A. Gimenez. "Increasing trade has the direct result of increasing long-term jobs in our community, which is the type of economic activity we need in order to continue to position Miami-Dade County as an attractive community for businesses to invest in."
The ITA works with American businesses to identify export opportunities for their products and to support the President's National Export Initiative, which aims to double U.S. exports by the end of 2014. This initiative has a specific focus on helping metropolitan areas identify regional strengths in order to increase their exports and support local jobs. In 2011, for every $1 billion in exports, an estimated 5,000 jobs are supported.
"We are proud to help Miami-Dade County continue its expansion as one of the country's top trade hubs," said Miami-Dade Aviation Director José Abreu. "Through July of this calendar year, the value of exports at Miami International Airport (MIA) is more than $25 billion, or 60 percent of all the trade from the Miami Customs District. Cargo tonnage at MIA also continues to grow with an increase of nearly five percent this year."
"South Florida's stature as an international hub for trade and commerce will only continue to grow," said PortMiami Director Bill Johnson. "The $2 billion investment in infrastructure improvements at PortMiami supports our goal to double cargo traffic over the next decade and new initiatives, such as the recently announced PortMiami Foreign Trade Zone 281, are designed to keep us competitive in the global marketplace."
For more information on the impact of MSAs on U.S. exports, including fact sheets for the top 50 exporting MSAs in 2011, visit http://www.trade.gov/mas/ian/metroreport/index.asp. For more information on exporting, contact the U.S. Commercial Service in Miami at (305) 526-7425, in Fort Lauderdale at (954) 356-6640, or visit www.export.gov/Florida.