Statistics

Third-quarter trade up 7 percent

December 11th, 2006

As third quarter 2006 trade figures were released, Malaysia remained the fastest growing of Boston’s top trade partners. The Boston Customs District’s commercial exchange with the Southeast Asian country has nearly doubled in the past year.

Through September, Boston’s trade with the world rose 7 percent to $25.1 billion.

Year-to-date trade between Boston and Malaysia stood at $667.5 million as the third quarter closed. The exchange was led by $550 in exports from Boston an increase of 40 percent when compared with trade results in the same period of 2005. Computer chips accounted for 90 percent of the export value.

In the third quarter results, Malaysia advanced six places the roster of the Customs district’s trading partners to reach the No. 11 spot—jumping in front of Italy, Belgium, Venezuela, Switzerland and Taiwan.

Canada remains Boston’s top trading partner, with $2.9 billion-worth of goods exchanged in the first nine months of the year, although their exchange is lagging 3.5 percent behind 2006 results.

About 96 percent of the district’s trade with Canada came in the form of imports from the northern country. The bulk was $2.7 billion in non-crude petroleum.

Boston’s exports to Canada plummeted 85 percent to close the third quarter at $66.7 million. At the end of the third quarter in 2005, the exports were $450 million.

Germany, Boston’s second most important partner, is closing in on Canada as its trade with the Customs district rose 17 percent to $2.7 billion at the end of September. Exports to Germany rose 14.5 percent to $1.5 billion and imports totaled $1.2 billion, a jump of 20 percent from the first nine months in 2005.

Leading products to Germany were hormones, including insulin, and surgical instruments. Chin’s importance as a trade partner also increased as its exchange with Boston reached $2.5 billion, dominated by some $2.3 billion-worth of imports.

Six-month report: Boston trade up slightly, but exports drop (08/22/2006)

Boston exports slip, as five of Top 10 commodities are down (06/28/2006)

Despite important medical exports, Boston's $31.6 billion in annual trade is dependent on imports (03/15/2006)

Boston's trade increases 6.4%Canada, Netherlands leapfrog Germany (01/01/2006)