WorldCity, Georgia tops $70 billion in trade .. Malaysia's trade doubles; phone equipment triples | Connecting Local Business Leaders To The Global Economy

Georgia tops $70 billion in trade
Malaysia's trade doubles; phone equipment triples

February 14th, 2006

Georgia’s trade with the world topped $70 billion for the first time in 2005, according to annual statistics released by the Census Department on Feb. 10 and analyzed by WorldCity.

Led by the Port of Savannah and Atlanta International Airport, Georgia registered $72.5 billion in imports and exports, maintaining its position as the United States’ seventh-busiest Customs district.

2005	2004	Total Trade	2005	2004	Dollar Change	Percent Change
		.World Total	$72,449,009,446	$60,409,945,926	$12,039,063,520	19.93%
1	1	China	$12,128,492,493	$9,400,028,683	$2,728,463,810	29.03%
2	2	Japan	$7,892,528,048	$6,991,471,077	$901,056,971	12.89%
3	3	Germany	$6,396,625,951	$5,773,655,871	$622,970,080	10.79%
4	4	South Korea	$4,106,682,484	$3,674,226,925	$432,455,559	11.77%
5	5	United Kingdom	$3,918,995,071	$3,615,671,203	$303,323,868	8.39%
6	11	Malaysia	$3,301,451,513	$1,544,173,528	$1,757,277,985	113.80%
7	7	Ireland	$2,423,579,039	$2,181,372,328	$242,206,711	11.10%
8	6	Netherlands	$2,329,798,146	$2,355,460,640	($25,662,494)	-1.09%
9	8	Australia	$2,162,183,238	$1,944,284,303	$217,898,935	11.21%
10	9	Italy	$2,159,476,917	$1,935,410,373	$224,066,544	11.58%
11	10	Taiwan	$2,030,475,628	$1,561,306,164	$469,169,464	30.05%
12	12	France	$1,608,601,689	$1,405,901,975	$202,699,714	14.42%
13	15	Singapore	$1,543,164,345	$999,263,160	$543,901,185	54.43%
14	13	Belgium	$1,324,686,096	$1,165,831,654	$158,854,442	13.63%
15	16	Thailand	$1,256,643,814	$989,669,434	$266,974,380	26.98%
16	14	Sweden	$1,188,056,224	$1,128,728,959	$59,327,265	5.26%
17	20	Trinidad and Tobago	$1,135,031,743	$767,228,150	$367,803,593	47.94%
18	19	Indonesia	$1,018,102,096	$775,642,948	$242,459,148	31.26%
19	17	Hong Kong	$935,202,156	$892,576,010	$42,626,146	4.78%
20	18	Spain	$925,743,571	$850,953,365	$74,790,206	8.79%
21	21	Brazil	$908,670,650	$725,037,945	$183,632,705	25.33%
22	22	India	$685,651,676	$611,332,375	$74,319,301	12.16%
23	24	Venezuela	$631,046,346	$468,287,435	$162,758,911	34.76%
24	27	Switzerland	$576,294,050	$425,555,767	$150,738,283	35.42%
25	23	Israel	$571,594,468	$514,576,142	$57,018,326	11.08%

Only Los Angeles, New York, Detroit, Laredo, New Orleans and Houston ranked ahead of Georgia, among the nearly four dozen U.S. Customs districts. In May, WorldCity will host a half-day event and release the annual publication Georgia TradeNumbers at the Intercontinental Buckhead in Atlanta, providing an in-depth look at the state’s imports and exports with the world, by nation and commodity, as well as updates from leading airport and seaport officials.

To register for the event, sponsored by the Datamyne as well as the Georgia Department of Economic Development and Atlanta International Airport, click here.

In 2005, 18 nations recorded more than $1 billion in trade with Georgia, an increase of four from the previous year. The new members of the $1 Billion Club are Singapore, Thailand, Trinidad and Tobago, and Indonesia. The biggest surge in trade among the top trade partners was with Malaysia, a tech manufacturing powerhouse, which saw its trade with Georgia more than double in 2005, according to WorldCity analysis. It ranked as the state’s sixth leading trade partner, with more than $3.3 billion in total trade, moving up five slots. Almost $3 billion of that trade was in imports into Georgia. The value of imports was nearly twice as great as that of exports, $47.9 billion to $24.6 billion, almost identical to the national ratio. That led to a trade deficit of $23.2 billion, which is likely to grow. Imports grew at nearly twice the rate as exports, 23 percent to 14 percent. Fastest-growing import? Telephone equipment, which jumped 11 notches to become the No. 2 import into Georgia in 2005, behind only motor vehicle imports. The value of those imports surged more than 357 percent to $2 billion. Other fast-growing imports in dollar value were refined petroleum products and petroleum gases. On the export side, phone equipment remains the No. 1 commodity, but the value slipped $144 million. Jet parts, optical fibers and chemical wood pulp were fast-growing exports.

Top Imports

2005		2005	2004	Dollar Change	Percent Change
	Total, All Commodities	$24,566,369,055	$21,596,720,913	$2,969,648,142	13.75%
1	Electric equipment for line telephony	$1,594,688,568	$1,738,901,078	($144,212,510)	-8.29%
2	Regional jet parts	$1,510,990,186	$1,192,366,331	$318,623,855	26.72%
3	Motor vehicles for transporting people	$881,972,313	$893,649,557	($11,677,244)	-1.31%
4	Optical fibers	$853,799,394	$590,210,163	$263,589,231	44.66%
5	Aircraft parts	$828,299,877	$700,264,721	$128,035,156	18.28%
6	Chemical woodpulp	$803,758,700	$582,394,870	$221,363,830	38.01%
7	Aircraft	$694,662,241	$715,295,922	($20,633,681)	-2.88%
8	Medical instruments for surgeons, dentists, vets	$615,791,545	$568,846,239	$46,945,306	8.25%
9	Computers	$614,998,825	$543,965,193	$71,033,632	13.06%
10	Motor vehicles for transporting goods	$599,395,413	$498,717,544	$100,677,869	20.19%
11	Cotton, not carded or combed	$484,122,929	$637,403,700	($153,280,771)	-24.05%
12	Kaolin clays	$467,669,559	$428,398,853	$39,270,706	9.17%
13	Computer parts	$451,506,350	$347,595,194	$103,911,156	29.89%
14	Polyethers, expoxides and polyesters, primary forms	$397,252,042	$221,381,576	$175,870,466	79.44%
15	Yachts and other boats	$319,192,613	$205,981,610	$113,211,003	54.96%

Top Exports

2005		2005	2004	Dollar Change	Percent Change
	Total, All Commodities	$47,882,640,391	$38,813,225,013	$9,069,415,378	23.37%
1	Motor vehicles for transporting people	$4,727,899,913	$4,794,618,922	($66,719,009)	-1.39%
2	Electric equipment for line telephony	$2,077,821,401	$454,901,569	$1,622,919,832	356.76%
3	Medicine	$1,931,462,616	$1,845,776,051	$85,686,565	4.64%
4	Computers	$1,449,568,943	$1,215,253,255	$234,315,688	19.28%
5	Self-propelled heavy construction machinery	$1,261,436,701	$990,981,446	$270,455,255	27.29%
6	Petroleum gases, other gaseous hydrocarbons	$1,197,733,929	$665,512,001	$532,221,928	79.97%
7	Motor vehicle parts	$1,105,622,427	$856,001,055	$249,621,372	29.16%
8	Oil, not crude	$1,021,453,480	$557,421,291	$464,032,189	83.25%
9	Transmission apparatus for cellular phones	$903,116,441	$718,589,138	$184,527,303	25.68%
10	Furniture, parts	$845,027,074	$663,574,528	$181,452,546	27.34%
11	Exports of repaired imports Imports of returned exports	$653,454,282	$536,193,675	$117,260,607	21.87%
12	Regional jet parts	$621,834,361	$518,378,491	$103,455,870	19.96%
13	Toys, scale models, puzzles	$578,179,644	$500,581,662	$77,597,982	15.50%
14	Computer parts	$509,560,154	$424,705,891	$84,854,263	19.98%
15	Saws, drills and other hand tools	$455,055,502	$386,634,383	$68,421,119	17.70%