Statistics
$300 billion record set; next is new milestone with imports
February 1st, 2007
LAbecame the first Customs district to ever surpass $300 billion in annual trade, doing so through the first 11 months of the year, according to WorldCity analysis of U.S. Census data.
It also became the first Customs district to surpass $100 billion in trade with a single nation, with China registering $15 billion in exports and $94 billion in imports. When the annual trade statistics are released on Feb. 13, it will show that China will have surpassed $100 billion in imports into the district, also a first.
| 2006 | 2005 | Total Trade | November 2006 YTD | November 2005 YTD | Dollar Change | Percent Change |
|---|---|---|---|---|---|---|
| World Total | $302,011,072,333 | $268,936,779,150 | $33,074,293,183 | 12.30% | ||
| 1 | 1 | China | $108,683,913,390 | $93,792,001,999 | $14,891,911,391 | 15.88% |
| 2 | 2 | Japan | $46,682,648,806 | $42,358,032,048 | $4,324,616,758 | 10.21% |
| 3 | 3 | South Korea | $19,024,018,528 | $16,341,166,693 | $2,682,851,835 | 16.42% |
| 4 | 4 | Taiwan | $15,249,306,721 | $13,704,662,710 | $1,544,644,011 | 11.27% |
| 5 | 5 | Malaysia | $8,905,952,579 | $8,714,140,233 | $191,812,346 | 2.20% |
| 6 | 6 | Germany | $8,561,276,722 | $8,236,379,791 | $324,896,931 | 3.94% |
| 7 | 7 | Thailand | $8,298,518,582 | $7,350,048,792 | $948,469,790 | 12.90% |
| 8 | 9 | Singapore | $7,591,974,736 | $6,530,757,393 | $1,061,217,343 | 16.25% |
| 9 | 8 | Australia | $7,248,010,946 | $6,985,429,823 | $262,581,123 | 3.76% |
| 10 | 10 | Hong Kong | $6,319,259,329 | $6,016,040,862 | $303,218,467 | 5.04% |
| 11 | 11 | United Kingdom | $5,067,076,086 | $5,173,288,106 | ($106,212,020) | -2.05% |
| 12 | 12 | Indonesia | $4,574,717,974 | $4,414,124,947 | $160,593,027 | 3.64% |
| 13 | 13 | Philippines | $4,197,378,340 | $3,944,458,114 | $252,920,226 | 6.41% |
| 14 | 14 | India | $3,410,122,768 | $3,208,308,193 | $201,814,575 | 6.29% |
| 15 | 15 | Vietnam | $3,173,462,486 | $2,487,319,531 | $686,142,955 | 27.59% |
| 16 | 16 | Mexico | $2,998,047,743 | $2,436,935,754 | $561,111,989 | 23.03% |
| 17 | 19 | Netherlands | $2,662,685,912 | $2,208,459,299 | $454,226,613 | 20.57% |
| 18 | 22 | Ecuador | $2,660,824,693 | $1,911,981,642 | $748,843,051 | 39.17% |
| 19 | 28 | Iraq | $2,626,410,304 | $1,190,849,335 | $1,435,560,969 | 120.55% |
| 20 | 17 | Italy | $2,451,761,587 | $2,404,812,132 | $46,949,455 | 1.95% |
| 21 | 20 | France | $2,263,125,540 | $2,182,910,864 | $80,214,676 | 3.67% |
| 22 | 23 | Brazil | $2,240,610,841 | $1,747,398,843 | $493,211,998 | 28.23% |
| 23 | 18 | Saudi Arabia | $2,215,070,268 | $2,257,308,111 | ($42,237,843) | -1.87% |
| 24 | 21 | Belgium | $1,861,904,784 | $1,913,344,097 | ($51,439,313) | -2.69% |
| 25 | 24 | New Zealand | $1,522,741,287 | $1,671,898,529 | ($149,157,242) | -8.92% |
Los Angeles, the nation’s busiest Customs district with more than 11 percent of all U.S. trade, is led by the seaports in Los Angeles and Long Beach and Los Angeles International Airport. It is followed by New York, Detroit, Houston and Laredo, Texas.
Even though its trade is heavily weighted by imports and its deficit is the nation’s largest, Los Angeles has greater exports than all other Customs district except Detroit and New York. China is the leading recipient of the exports leaving Los Angeles, Japan No. 2. Overall, it has a trade surplus with 106 nations and a deficit with 116 nations.
And although China and Asia dominate Los Angeles’ trade, the Customs district will finish the year with more than $1 billion in trade with either 30 or 31 nations, depending on whether Cambodia slips into the Billion Dollar Club for the first time.
Of the 30 that had already registered more than $1 billion in trade through the first 11 months, 13 are Asian nations but eight are European nations, four are nations in the Western Hemisphere, three are Middle Eastern nations and two are Oceanic nations. Bangladesh, a leading apparel-producing nation, is the only new member to the Billion Dollar Club; Cambodia would be should it move into 10 digits,
Los Angeles’ fastest-growing trade partner is Iraq, the only high-ranking nation whose trade will have doubled when the annual statistics are released in February. Other fast-growing nations, on a percentage basis include Vietnam, Mexico, the Netherlands, Ecuador, Brazil, Canada and the aforementioned Bangladesh and Cambodia.
Quite a few nations registered a decrease in trade through the first 11 months, among them the United Kingdom, Saudi Arabia, Belgium, New Zealand and Sweden.
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)