Top Boston Trading Partners

Top US Trading Partners

Boston’s trade decreases -5.71 percent through March

Boston’s trade with the world rose to $6,712,544,060 through the first three months of 2012, according to a WorldCity analysis of the latest U.S. Census Bureau data. That’s -5.71 percent decreases the Customs district’s total trade during the same time period last year. The district’s exports decreased -6.34 percent while imports dropped -5.49 percent.

Through March the district’s top trade partners were No. 1 Canada, No. 2 China, No. 3 United Kingdom, No. 4 Germany and No. 5 Ireland. Through the first three months of the last year, top five spots were held by Canada, China, Germany, Ireland and France, respectively.

Taking a closer look at the leading trade partners with Boston:

• No.1 Canada’s trade rose 8.70 percent to $1,268,232,846.
  Exports rose 56.35 percent to $14,617,737. Imports rose 8.31 percent to $1,253,615,109.
• No.2 China’s trade fell -3.87 percent to $787,098,032.
  Exports rose 16.65 percent to $176,775,072. Imports fell -8.53 percent to $610,322,960.
• No.3 United Kingdom’s trade rose 63.18 percent to $735,453,770.
  Exports fell -4.97 percent to $153,021,258. Imports rose 101.07 percent to $582,432,512.
• No.4 Germany’s trade fell -5.86 percent to $591,341,964.
  Exports fell -15.09 percent to $204,087,614. Imports fell -0.15 percent to $387,254,350.
• No.5 Ireland’s trade fell -26.68 percent to $390,018,015.
  Exports rose 13.04 percent to $105,562,417. Imports fell -35.14 percent to $284,455,598.

Boston’s top five trading partners through March accounted for 56.2 percent of its trade with the world. The U.S. average for the same period was 52.49 percent.

Boston had trade surpluses with 86 countries and deficits with 84 through March. That compares with 91 surpluses and 80 deficits for the same period one year earlier. The top three surpluses through March of this year were with Turkey, $70,365,999; Malta, $67,649,216; and Egypt, $35,792,437. The top three deficits were with Canada ($1,238,997,372), China ($433,547,888) and United Kingdom ($429,411,254).

Meanwhile, total U.S. trade increased to $934,379,177,983, up 8.63 percent compared to the same period last year. The nation’s exports climbed 3.54 percent to $30,467,217,700 as imports rose 5.09 percent to $43,800,507,934. The nation’s top five trade districts so far this year, by value, are New York City, Los Angeles, Houston, Detroit and Laredo. The overall trade deficit was $-171,264,242,143, up compared to the same period of last year when the deficit was $-157,930,951,909.

Boston’s top five exports by value through March were medical instruments for surgeons, dentists, vets; scrap iron, steel; oil, not crude; medical equipment for physicals; and centrifuges, filters, machines and parts, in that order. Those accounted for 29.68 percent of its total outbound trade. The value of the district’s top five imports, oil, not crude, medical instruments for surgeons, dentists, vets, orthopedic appliances, artificial body parts and fish fillets, chilled or frozenpetroleum gases, other gaseous hydrocarbons and , accounted for 47.91 percent of all inbound shipments.

Looking more closely at Boston exports:

• Medical instruments for surgeons, dentists, vets fell -23.32 percent compared to last year to $170,724,955.
• Scrap iron, steel rose 45.42 percent compared to last year to $135,878,235.
• Oil, not crude rose 15,124.81 percent compared to last year to $67,937,656.
• Medical equipment for physicals rose 0.22 percent compared to last year to $65,861,278.
• Centrifuges, filters, machines and parts rose 4.16 percent compared to last year to $65,022,139.

On the import side:

• Oil, not crude rose 9.45 percent compared to last year to $1,694,246,128.
• Medical instruments for surgeons, dentists, vets fell -3.90 percent compared to last year to $272,284,345.
• Orthopedic appliances, artificial body parts fell -31.11 percent compared to last year to $161,325,279.
• Fish fillets, chilled or frozen rose 9.84 percent compared to last year to $148,216,840.
• Petroleum gases, other gaseous hydrocarbons fell -34.12 percent compared to last year to $124,199,720.

Last year the Boston district posted total trade with the world of $29,048,466,039. The district’s deficit was $-12,822,164,547. At year end, the region’s top five partners were Canada, China, Germany, United Kingdom and France. Exports totaled $8,113,150,746 and imports came to $20,935,315,293.