Top Chicago Trading Partners

Top US Trading Partners

Chicago’s trade increases 8.10 percent through March

Chicago’s trade with the world rose to $44,030,086,283 through the first three months of 2012, according to a WorldCity analysis of the latest U.S. Census Bureau data. That’s 8.10 percent increases the Customs district’s total trade during the same time period last year. The district’s exports increased 6.12 percent while imports rose 8.65 percent.

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

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

• No.1 China’s trade rose 12.45 percent to $11,280,373,617.
  Exports rose 6.05 percent to $994,904,457. Imports rose 13.12 percent to $10,285,469,160.
• No.2 Canada’s trade rose 21.66 percent to $6,330,337,279.
  Exports rose 167.37 percent to $18,624,136. Imports rose 21.46 percent to $6,311,713,143.
• No.3 Japan’s trade rose 13.09 percent to $4,466,532,309.
  Exports rose 13.76 percent to $1,100,255,739. Imports rose 12.88 percent to $3,366,276,570.
• No.4 Germany’s trade rose 14.10 percent to $2,797,747,010.
  Exports rose 6.77 percent to $908,299,078. Imports rose 17.99 percent to $1,889,447,932.
• No.5 South Korea’s trade fell -4.34 percent to $1,782,770,280.
  Exports rose 30.93 percent to $487,091,527. Imports fell -13.14 percent to $1,295,678,753.

Chicago’s top five trading partners through March accounted for 60.54 percent of its trade with the world. The U.S. average for the same period was 52.49 percent.

Chicago had trade surpluses with 110 countries and deficits with 89 through March. That compares with 107 surpluses and 85 deficits for the same period one year earlier. The top three surpluses through March of this year were with Russia, $261,309,815; Australia, $209,923,351; and Hong Kong, $209,575,275. The top three deficits were with China ($9,290,564,703), Canada ($6,293,089,007) and Japan ($2,266,020,831).

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.

Chicago’s top five exports by value through March were aircraft; medicine; medical instruments for surgeons, dentists, vets; orthopedic appliances, artificial body parts; and computers, in that order. Those accounted for 38.02 percent of its total outbound trade. The value of the district’s top five imports, oil, landline, cellular phone equipment, computers and medicineimports of returned exports and , accounted for 44.55 percent of all inbound shipments.

Looking more closely at Chicago exports:

• Aircraft rose 28.54 percent compared to last year to $1,280,053,527.
• Medicine rose 21.88 percent compared to last year to $1,056,633,068.
• Medical instruments for surgeons, dentists, vets fell -7.25 percent compared to last year to $612,382,378.
• Orthopedic appliances, artificial body parts rose 44.36 percent compared to last year to $367,059,776.
• Computers rose 18.51 percent compared to last year to $267,454,421.

On the import side:

• Oil rose 23.07 percent compared to last year to $6,087,678,358.
• Landline, cellular phone equipment fell -14.32 percent compared to last year to $3,141,559,628.
• Computers rose 26.69 percent compared to last year to $2,678,329,019.
• Medicine fell -3.67 percent compared to last year to $1,984,546,835.
• Imports of returned exports rose 83.10 percent compared to last year to $1,522,871,618.

Last year the Chicago district posted total trade with the world of $176,538,302,626. The district’s deficit was $-103,283,204,508. At year end, the region’s top five partners were China, Canada, Japan, Germany and South Korea. Exports totaled $36,627,549,059 and imports came to $139,910,753,567.