Source: http://worldcityweb.com/home/LA/statistics/view/136/

Six-month report: LA up 12 percent, slower than national average

August 30th, 2006

Los Angles’ trade with the world is up $168 billion through the first six months of 2006 but its growth pace, at 12.4 percent, is slightly below the national average of 13.5

The Customs district, led by Los Angeles International Airport and the Ports of Long Beach and Los Angeles, continues to distance itself from the No. 2 ranked Customs district in the United States, New York, according to WorldCity analysis of U.S. Census data.

The difference between top-ranked Los Angeles and New York at the midway point in 2003 was $2.6 billion. This year, it is more than $12.2 billion.

Rank Imports June 2006 YTD June 2005 YTD Dollar change Percent Change
Total All Imports $111,733,064,918 $100,988,809,115 $10,744,255,803 10.64%
1 Computers $11,109,441,118 $10,079,363,736 $1,030,077,382 10.22%
2 Motor vehicles for transporting people $10,400,118,949 $9,952,844,901 $447,274,048 4.49%
3 Crude oil from Petroleum, bituminous minerals $5,267,929,375 $3,388,767,580 $1,879,161,795 55.45%
4 Computer parts $4,021,505,930 $3,470,845,863 $550,660,067 15.87%
5 Color TVs, computer monitors $3,547,262,917 $2,637,427,955 $909,834,962 34.50%
6 Transmission apparatus for cellular phones $2,249,310,826 $2,385,240,818 $(135,929,992) -5.70%
7 Footware, sole of rubber, plastic or leather; upper leather $2,126,041,995 $2,038,546,139 $87,495,856 4.29%
8 Oil, not crude $2,115,940,658 $1,172,356,942 $943,583,716 80.49%
9 Furniture, parts $2,046,517,920 $1,877,878,653 $168,639,267 8.98%
10 Women's or girls' suits, not knit $1,960,057,148 $1,844,015,133 $116,042,015 6.29%
11 Motor vehicle parts $1,882,736,050 $1,652,835,389 $229,900,661 13.91%
12 Rubber tires $1,428,966,366 $1,160,103,179 $268,863,187 23.18%
13 Seats, excluding barber, dental $1,409,275,067 $1,151,851,789 $257,423,278 22.35%
14 Electronic integrated circuits $1,370,657,779 $1,238,552,113 $132,105,666 10.67%
15 Toys, scale models, puzzles $1,215,799,161 $1,293,654,326 $(77,855,165) -6.02%
16 Footware, sole and upper rubber or plastic $1,205,494,599 $1,142,202,736 $63,291,863 5.54%
17 Motorcycles, including mopeds $1,203,444,325 $1,086,926,373 $116,517,952 10.72%
18 Parts for arcade, parlor games $1,146,919,926 $1,209,634,133 $(62,714,207) -5.18%
19 Sweaters, pullovers, vest, knit or crocheted $1,144,349,554 $1,224,675,199 $(80,325,645) -6.56%
20 Reception apparatus for cellular phones $1,127,654,231 $1,190,939,204 $(63,284,973) -5.31%
21 Travel goods, including handbags, wallets, jewelry cases $1,093,311,618 $1,032,612,517 $60,699,101 5.88%
22 Electric equipment for line telephony $1,055,394,690 $922,633,101 $132,761,589 14.39%
23 Diamonds, not mounted $954,634,061 $865,998,106 $88,635,955 10.24%
24 Exports of repaired imports Imports of returned exports $895,127,134 $904,398,334 $(9,271,200) -1.03%
25 Unrecorded media for audio $857,230,002 $797,527,395 $59,702,607 7.49%

Los Angeles’ two fastest-growing imports when compared against 2005, in percentage terms, are crude oil (80 percent) and refined petroleum products (55 percent) gains due to the increased cost of oil.

Computer parts, rubber tires and seats are all advancing at an above-average clip while several imports cellular equipment, toys, and sweaters and like apparel are down through June.

Overall, imports grew $10.7 billion, or 10.6 percent. Exports, meanwhile, grew at a faster percentage, 17 percent, although a far less significant dollar figure, $6.4 billion.

Rank Exports June 2006 YTD June 2005 YTD Dollar Change Percent Change
Total, All Exports $43,662,657,184 $37,230,890,836 $6,431,766,348 0.172753491
1 Electronic integrated circuits $4,023,381,874 $3,244,209,360 $779,172,514 0.240173314
2 Aircraft parts $2,356,543,614 $2,067,531,655 $289,011,959 0.13978599
3 Cotton, not carded or combed $1,558,713,670 $946,768,801 $611,944,869 0.646350903
4 Computers $1,285,417,354 $1,064,317,357 $221,099,997 0.207738787
5 Regional jet parts $895,339,146 $793,509,837 $101,829,309 0.128327721
6 Computer parts $866,171,918 $821,733,932 $44,437,986 0.054078314
7 Motor vehicle parts $697,825,024 $571,501,048 $126,323,976 0.221038923
8 Miscellaneous machines, parts $673,832,213 $406,080,560 $267,751,653 0.659355998
9 Medical instruments for surgeons, dentists, vets $672,662,499 $578,345,097 $94,317,402 0.163081528
10 Motor vehicles for transporting people $627,685,111 $521,478,737 $106,206,374 0.203663863
11 Scrap iron, steel $557,435,902 $442,293,276 $115,142,626 0.260330944
12 Machinery parts $483,147,405 $655,502,646 $(172,355,241) -0.262935996
13 Human blood, animal blood, plasma, vaccines $473,058,130 $451,530,921 $21,527,209 0.047676046
14 Parts for cellular communications $464,119,084 $364,691,349 $99,427,735 0.272635299
15 Photo-sensitive semi-conductors, parts $424,586,408 $425,988,104 $(1,401,696) -0.003290458
16 Raw hides, skins of cows, horses $421,955,875 $293,402,766 $128,553,109 0.438145525
17 Aluminum waste and scrap $421,133,325 $186,398,374 $234,734,951 1.259318662
18 Polyethers, expoxides and polyesters, primary forms $374,892,703 $308,267,833 $66,624,870 0.216126572
19 Exports of repaired imports Imports of returned exports $373,915,057 $480,798,200 $(106,883,143) -0.222303542
20 Prepared foods, beverages $373,846,709 $360,439,540 $13,407,169 0.037196721
21 Centrifuges, filters, machines and parts $368,585,462 $273,908,708 $94,676,754 0.345650763
22 Miscellaneous electrical machinery $357,828,049 $293,428,723 $64,399,326 0.219471786
23 Polymers of ethylene $354,110,506 $380,009,537 $(25,899,031) -0.068153634
24 Copper waste and scrap $349,605,163 $188,640,906 $160,964,257 0.853283948
25 Electric equipment for line telephony $345,081,178 $328,475,884 $16,605,294 0.050552551

Leading gains among exports are cotton, scrap iron, animal hides, scrap aluminum and copper waste and scrap.

The country with the largest appetite for all that scrap iron and iron is, of course, Los Angeles’ top-ranked trade partner, China, which with $43 billion in trade, has more than twice that of No. 2 Japan, at $20.5 billion. Japan, in turn, has more than twice that of No. 3-ranked South Korea, which recorded $8.2 billion through the first six months of the year.

Rank Total Trade June 2006 YTD June 2005 YTD Dollar Change Percent Change
World Total $126,978,997,328 $113,079,698,782 $13,899,298,546 12.29%
1 China $42,947,064,472 $36,972,332,244 $5,974,732,228 16.16%
2 Japan $20,530,006,662 $18,601,591,065 $1,928,415,597 10.37%
3 South Korea $8,199,821,324 $7,366,879,940 $832,941,384 11.31%
4 Taiwan $6,503,818,904 $5,946,257,329 $557,561,575 9.38%
5 Malaysia $3,833,716,345 $3,571,053,355 $262,662,990 7.36%
6 Germany $3,798,617,540 $3,824,215,211 $(25,597,671) -0.67%
7 Thailand $3,507,120,976 $3,087,138,718 $419,982,258 13.60%
8 Singapore $3,331,445,143 $2,892,482,966 $438,962,177 15.18%
9 Australia $3,180,790,297 $2,951,519,797 $229,270,500 7.77%
10 Hong Kong $2,663,036,643 $2,467,749,753 $195,286,890 7.91%
11 United Kingdom $2,159,585,945 $2,487,518,521 $(327,932,576) -13.18%
12 Indonesia $1,960,024,685 $2,064,505,030 $(104,480,345) -5.06%
13 Philippines $1,887,833,614 $1,492,586,260 $395,247,354 26.48%
14 India $1,510,007,608 $1,356,374,154 $153,633,454 11.33%
15 Ecuador $1,352,215,629 $913,664,163 $438,551,466 48.00%
16 Vietnam $1,247,313,644 $992,186,916 $255,126,728 25.71%
17 Saudi Arabia $1,188,773,789 $1,090,822,575 $97,951,214 8.98%
18 Mexico $1,158,622,887 $933,962,645 $224,660,242 24.05%
19 Netherlands $1,116,458,131 $934,091,783 $182,366,348 19.52%
20 Italy $1,083,803,929 $1,142,223,044 $(58,419,115) -5.11%
21 France $1,030,685,339 $963,773,227 $66,912,112 6.94%
22 Brazil $947,153,282 $658,540,861 $288,612,421 43.83%
23 Iraq $900,544,181 $367,427,853 $533,116,328 145.09%
24 Belgium $881,382,757 $854,179,596 $27,203,161 3.18%
25 New Zealand $693,268,633 $754,480,673 $(61,212,040) -8.11%

Through the first six months, 21 nations contributed more than $1 billion in total trade to Los Angeles, with another six to eight likely to follow by years’ end.

The country with the fastest-growing trade, in percentage, is Iraq. L.A. trade with Iraq is up 145 percent, with imports making up 99 percent of that, a greater trade imbalance than that with China. Trade is also growing quickly with two Latin American nations, Brazil and Ecuador.

Recent Reports

2nd annual L.A. TradeNumbers released (05/30/2007)

LA trade up at twice the national average (04/23/2007)

Los Angeles rips up the trade record book (02/13/2007)

$300 billion record set; next is new milestone with imports (02/01/2007)

Los Angeles poised to set U.S. trade record (12/11/2006)

LA trade continues march toward $300 billion (11/13/2006)

Deficit yes, but there is more balance, when viewed by nations (11/01/2006)

Six-month report: LA up 12 percent, slower than national average (08/30/2006)

A trifecta: Passing Japan, China is top destination for LA exports, in addition to imports and total trade (07/28/2006)

The nation's most important trade district continues its romance with fast growing Asia (03/15/2006)

LA trade growth at 11%
China, India, Ecuador are best performers (01/01/2006)