Top Duluth, Minn. Trading Partners

Top US Trading Partners

Duluth, Minn.’s trade increases 4.00 percent through March

Duluth, Minn.’s trade with the world rose to $2,862,868,271 through the first three months of 2012, according to a WorldCity analysis of the latest U.S. Census Bureau data. That’s 4.00 percent increases the Customs district’s total trade during the same time period last year. The district’s exports increased 39.89 percent while imports dropped -8.78 percent.

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

Taking a closer look at the leading trade partners with Duluth, Minn.:

• No.1 Canada’s trade rose 3.51 percent to $2,580,979,523.
  Exports rose 46.17 percent to $886,589,446. Imports fell -10.21 percent to $1,694,390,077.
• No.2 China’s trade fell -2.26 percent to $158,780,697.
  Exports fell -15.20 percent to $55,624,532. Imports rose 6.50 percent to $103,156,165.
• No.3 Vietnam’s trade rose 49.11 percent to $30,191,373.
  Exports rose 133.38 percent to $2,687,827. Imports rose 44.03 percent to $27,503,546.
• No.4 Japan’s trade rose 101.93 percent to $23,766,412.
  Exports rose 113.09 percent to $18,716,652. Imports rose 69.11 percent to $5,049,760.
• No.5 Taiwan’s trade rose 57.81 percent to $19,920,202.
  Exports rose 585.43 percent to $11,133,584. Imports fell -20.11 percent to $8,786,618.

Duluth, Minn.’s top five trading partners through March accounted for 98.28 percent of its trade with the world. The U.S. average for the same period was 52.49 percent.

Duluth, Minn. had trade surpluses with 17 countries and deficits with 21 through March. That compares with 14 surpluses and 17 deficits for the same period one year earlier. The top three surpluses through March of this year were with Japan, $13,666,892; South Korea, $9,082,244; and Hong Kong, $7,065,624. The top three deficits were with Canada ($807,800,631), China ($47,531,633) and Vietnam ($24,815,719).

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.

Duluth, Minn.’s top five exports by value through March were oil, not crude; iron and steel pipes and tubing; insecticides, fungicides; angles, shapes, sections, iron and nonalloy steel; and motor vehicles for transporting people, in that order. Those accounted for 29.81 percent of its total outbound trade. The value of the district’s top five imports, polymers of ethylene, potassic fertilizers, wood, sawed or chipped, greater than 6 meters thic and chemical woodpulp, not dissolving graderapeseed, colza or mustard oil and , accounted for 51.75 percent of all inbound shipments.

Looking more closely at Duluth, Minn. exports:

• Oil, not crude rose 61.91 percent compared to last year to $142,893,089.
• Iron and steel pipes and tubing rose 37.16 percent compared to last year to $58,606,806.
• Insecticides, fungicides rose 136.93 percent compared to last year to $36,437,843.
• Angles, shapes, sections, iron and nonalloy steel rose 80.46 percent compared to last year to $35,476,966.
• Motor vehicles for transporting people fell -13.65 percent compared to last year to $28,115,592.

On the import side:

• Polymers of ethylene fell -12.52 percent compared to last year to $256,428,204.
• Potassic fertilizers fell -37.34 percent compared to last year to $234,771,190.
• Wood, sawed or chipped, greater than 6 meters thic fell -8.94 percent compared to last year to $179,080,274.
• Chemical woodpulp, not dissolving grade fell -20.17 percent compared to last year to $164,552,811.
• Rapeseed, colza or mustard oil fell -29.54 percent compared to last year to $123,203,978.

Last year the Duluth, Minn. district posted total trade with the world of $11,967,825,604. The district’s deficit was $-4,686,208,182. At year end, the region’s top five partners were Canada, China, Vietnam, South Korea and Taiwan. Exports totaled $3,640,808,711 and imports came to $8,327,016,893.