Top Charleston Trading Partners

Top US Trading Partners

Charleston’s trade increases 16.93 percent through March

Charleston’s trade with the world rose to $15,964,974,926 through the first three months of 2012, according to a WorldCity analysis of the latest U.S. Census Bureau data. That’s 16.93 percent increases the Customs district’s total trade during the same time period last year. The district’s exports increased 10.21 percent while imports rose 21.38 percent.

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

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

• No.1 Germany’s trade rose 16.21 percent to $3,682,857,110.
  Exports rose 13.86 percent to $1,204,245,155. Imports rose 17.38 percent to $2,478,611,955.
• No.2 China’s trade rose 18.98 percent to $1,990,914,275.
  Exports rose 23.20 percent to $927,364,162. Imports rose 15.53 percent to $1,063,550,113.
• No.3 United Kingdom’s trade rose 39.61 percent to $974,916,625.
  Exports rose 15.25 percent to $456,641,418. Imports rose 71.54 percent to $518,275,207.
• No.4 India’s trade fell -0.94 percent to $741,063,982.
  Exports fell -2.87 percent to $127,444,302. Imports fell -0.53 percent to $613,619,680.
• No.5 Japan’s trade rose 38.18 percent to $719,417,252.
  Exports rose 37.96 percent to $252,708,798. Imports rose 38.30 percent to $466,708,454.

Charleston’s top five trading partners through March accounted for 50.79 percent of its trade with the world. The U.S. average for the same period was 52.49 percent.

Charleston had trade surpluses with 86 countries and deficits with 86 through March. That compares with 100 surpluses and 72 deficits for the same period one year earlier. The top three surpluses through March of this year were with South Africa, $137,570,570; Saudi Arabia, $132,011,502; and United Arab Emirates, $109,310,407. The top three deficits were with Germany ($1,274,366,800), India ($486,175,378) and Austria ($352,500,938).

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.

Charleston’s top five exports by value through March were motor vehicles for transporting people; aircraft engines, parts; polyethers, epoxides and polyesters, primary forms; rubber tires; and harvesting machinery for poultry, in that order. Those accounted for 44.45 percent of its total outbound trade. The value of the district’s top five imports, medicine, motor vehicle parts, oil, not crude and internal combustion engines, including aircraftaircraft parts and , accounted for 24.10 percent of all inbound shipments.

Looking more closely at Charleston exports:

• Motor vehicles for transporting people rose 22.28 percent compared to last year to $1,932,606,775.
• Aircraft engines, parts rose 17.48 percent compared to last year to $357,771,331.
• Polyethers, epoxides and polyesters, primary forms rose 17.03 percent compared to last year to $152,670,813.
• Rubber tires rose 34.45 percent compared to last year to $114,090,966.
• Harvesting machinery for poultry rose 24.73 percent compared to last year to $109,287,489.

On the import side:

• Medicine rose 104.26 percent compared to last year to $710,804,090.
• Motor vehicle parts rose 9.56 percent compared to last year to $666,835,626.
• Oil, not crude rose 45.14 percent compared to last year to $402,822,926.
• Internal combustion engines, including aircraft rose 23.64 percent compared to last year to $333,013,352.
• Aircraft parts rose 219.36 percent compared to last year to $287,986,312.

Last year the Charleston district posted total trade with the world of $58,671,584,823. The district’s deficit was $-13,686,737,845. At year end, the region’s top five partners were Germany, China, United Kingdom, India and France. Exports totaled $22,492,423,489 and imports came to $36,179,161,334.