Top Buffalo Trading Partners

Top US Trading Partners

Buffalo’s trade increases 6.85 percent through March

Buffalo’s trade with the world rose to $22,438,128,234 through the first three months of 2012, according to a WorldCity analysis of the latest U.S. Census Bureau data. That’s 6.85 percent increases the Customs district’s total trade during the same time period last year. The district’s exports increased 10.27 percent while imports rose 3.29 percent.

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

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

• No.1 Canada’s trade rose 6.43 percent to $21,143,844,215.
  Exports rose 10.34 percent to $11,494,162,685. Imports rose 2.11 percent to $9,649,681,530.
• No.2 China’s trade rose 8.14 percent to $368,602,686.
  Exports fell -43.61 percent to $19,526,191. Imports rose 13.99 percent to $349,076,495.
• No.3 Japan’s trade rose 80.67 percent to $165,975,357.
  Exports rose 149.01 percent to $96,209,348. Imports rose 31.06 percent to $69,766,009.
• No.4 United Kingdom’s trade fell -21.96 percent to $114,346,304.
  Exports fell -11.42 percent to $40,295,690. Imports fell -26.71 percent to $74,050,614.
• No.5 Germany’s trade fell -23.79 percent to $77,625,302.
  Exports fell -45.79 percent to $19,645,066. Imports fell -11.65 percent to $57,980,236.

Buffalo’s top five trading partners through March accounted for 97.47 percent of its trade with the world. The U.S. average for the same period was 52.49 percent.

Buffalo had trade surpluses with 41 countries and deficits with 94 through March. That compares with 45 surpluses and 97 deficits for the same period one year earlier. The top three surpluses through March of this year were with Canada, $1,844,481,155; Japan, $26,443,339; and Costa Rica, $24,927,944. The top three deficits were with China ($329,550,304), Saudi Arabia ($48,366,670) and Germany ($38,335,170).

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.

Buffalo’s top five exports by value through March were oil, not crude; motor vehicles for transporting people; motor vehicles for transporting goods; petroleum gases, other gaseous hydrocarbons; and medicine, in that order. Those accounted for 28.48 percent of its total outbound trade. The value of the district’s top five imports, motor vehicles for transporting people, petroleum gases, other gaseous hydrocarbons, oil and imports of returned exportsnickle, unwrought 7502 and , accounted for 37.79 percent of all inbound shipments.

Looking more closely at Buffalo exports:

• Oil, not crude rose 1,339.20 percent compared to last year to $980,848,295.
• Motor vehicles for transporting people fell -19.79 percent compared to last year to $837,772,794.
• Motor vehicles for transporting goods rose 0.74 percent compared to last year to $550,525,824.
• Petroleum gases, other gaseous hydrocarbons rose 21.65 percent compared to last year to $532,952,986.
• Medicine fell -3.77 percent compared to last year to $458,281,892.

On the import side:

• Motor vehicles for transporting people rose 26.89 percent compared to last year to $2,575,915,724.
• Petroleum gases, other gaseous hydrocarbons fell -27.18 percent compared to last year to $451,963,386.
• Oil rose 29.44 percent compared to last year to $451,620,809.
• Imports of returned exports rose 3.42 percent compared to last year to $317,774,147.
• Nickle, Unwrought 7502 fell -18.03 percent compared to last year to $222,886,251.

Last year the Buffalo district posted total trade with the world of $88,376,240,915. The district’s surplus was $4,569,267,429. At year end, the region’s top five partners were Canada, China, United Kingdom, Japan and Germany. Exports totaled $46,472,754,172 and imports came to $41,903,486,743.