Top Philadelphia Trading Partners

Top US Trading Partners

Philadelphia’s trade increases 0.04 percent through March

Philadelphia’s trade with the world rose to $19,670,687,518 through the first three months of 2012, according to a WorldCity analysis of the latest U.S. Census Bureau data. That’s 0.04 percent increases the Customs district’s total trade during the same time period last year. The district’s exports increased 6.59 percent while imports dropped -1.69 percent.

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

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

• No.1 Germany’s trade rose 20.96 percent to $1,613,205,087.
  Exports fell -20.42 percent to $449,768,625. Imports rose 51.40 percent to $1,163,436,462.
• No.2 United Kingdom’s trade fell -6.52 percent to $1,553,360,296.
  Exports fell -23.27 percent to $635,437,226. Imports rose 10.13 percent to $917,923,070.
• No.3 Nigeria’s trade fell -71.30 percent to $867,785,345.
  Exports rose 28.80 percent to $6,666,898. Imports fell -71.48 percent to $861,118,447.
• No.4 Saudi Arabia’s trade rose 68.76 percent to $805,381,366.
  Exports rose 25.98 percent to $149,458,412. Imports rose 82.92 percent to $655,922,954.
• No.5 Israel’s trade fell -34.52 percent to $782,679,491.
  Exports fell -15.27 percent to $39,298,918. Imports fell -35.29 percent to $743,380,573.

Philadelphia’s top five trading partners through March accounted for 28.58 percent of its trade with the world. The U.S. average for the same period was 52.49 percent.

Philadelphia had trade surpluses with 97 countries and deficits with 87 through March. That compares with 87 surpluses and 102 deficits for the same period one year earlier. The top three surpluses through March of this year were with United Arab Emirates, $312,514,742; Belgium, $206,504,827; and Turkey, $110,098,441. The top three deficits were with Nigeria ($854,451,549), Germany ($713,667,837) and Israel ($704,081,655).

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.

Philadelphia’s top five exports by value through March were medicine; medical instruments for surgeons, dentists, vets; motor vehicles for transporting people; oil, not crude; and radar and remote control equipment, in that order. Those accounted for 23.51 percent of its total outbound trade. The value of the district’s top five imports, oil, medicine, oil, not crude and motor vehicles for transporting peoplegrapes, fresh or dried and , accounted for 62.20 percent of all inbound shipments.

Looking more closely at Philadelphia exports:

• Medicine fell -24.14 percent compared to last year to $309,337,584.
• Medical instruments for surgeons, dentists, vets rose 31.52 percent compared to last year to $213,493,243.
• Motor vehicles for transporting people rose 63.95 percent compared to last year to $188,773,593.
• Oil, not crude rose 8.60 percent compared to last year to $162,811,493.
• Radar and remote control equipment rose 3,905.73 percent compared to last year to $151,779,285.

On the import side:

• Oil fell -12.51 percent compared to last year to $5,480,242,964.
• Medicine fell -17.70 percent compared to last year to $2,149,568,877.
• Oil, not crude rose 139.56 percent compared to last year to $987,534,784.
• Motor vehicles for transporting people rose 32.39 percent compared to last year to $545,047,081.
• Grapes, fresh or dried rose 3.90 percent compared to last year to $358,417,193.

Last year the Philadelphia district posted total trade with the world of $84,354,762,777. The district’s deficit was $-49,848,145,787. At year end, the region’s top five partners were Nigeria, United Kingdom, Germany, Israel and Saudi Arabia. Exports totaled $17,253,308,495 and imports came to $67,101,454,282.