Statistics

Deficit yes, but there is more balance, when viewed by nations

November 1st, 2006

Los Angeles, the nation’s largest Customs district, has the nation’s largest trade deficit, nearly topping $100 million in the latest release of U.S. data by the Census Bureau and analyzed by WorldCity.

No. 2 New York’s trade deficit through August was $57 billion. Few Customs districts have trade surpluses, in fact. Miami and Seattle generally do, the former because of its close ties to Latin America and the latter because of Boeing’s exports.

But Los Angeles, driven by the Port of Los Angeles, Los Angeles area airports and the Port of Long Beach, also has a trade surplus with 104 countries, not too many fewer than the 116 nations with which is has a deficit. In that regard, Los Angeles’ trade is remarkably balanced.

For a closer look at Los Angeles’ trade with the world, register for the Nov. 15 event launching the Los Angeles TradeNumbers publication, being held at the Biltmore Hotel.

As with many Customs districts around the nation and the United States as a whole, the enormous imbalance in trade with China skews the deficit figure. The $95.5 billion deficit through the first eight months of 2006, the most recent figures available, is derived from $59.1 billion in Los Angeles exports and $154.6 billion in imports.

The United States has an enormous and growing trade deficit as well. Likewise, as with Los Angeles, on a country-by-country basis, the story is far different.

The United States has a trade surplus with 115 nations and a trade deficit with only one more, 116.

The Los Angeles surpluses are with a wide variety of nations, including Australia at the top as well as Singapore, Hong Kong, the Netherlands, France, the United Arab Emirates, Panama, Kuwait, Afghanistan, Niger, French Polynesia, Iceland, Ireland and others.

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)