Source: http://worldcityweb.com/home/MIA/publications/magazine/51/873/

(4) South Florida Exports: Winners & Losers

by WC

The only constant seems to be the rapid pace of change. Look no further for proof of that old maxim than a comparison of the Top 50 exports from South Florida in 2002 and the Top 50 today, using the most recent Census data available.

First, the good news. Miami exports to the world are up an impressive 14 percent through the first 10 months of 2007 when compared to the same period in 2006. That compares to a national average of 1,1.83 percent, which is still relatively strong in recent historical terms. Over five years comparing October 2002 year-to-date figures and similar figures for 2007 South Florida is showing a 68 percent increase in exports to the world compared to 66 percent for the nation as a whole.

Fourteen commodities have entered the Top 50 since 2002, including computer printers, now the 10th-ranked export category. Most of the printers are headed for Latin America and the Caribbean. In 2002, the printing equipment that falls under this category was valued at only $29.3 million, and carried a 143 ranking. Through the first 10 months of 2007, the total was $672.1 million.

An equally impressive climb occurred with the export of something at the opposite end of the spectrum precious metal scrap. With a value of $8.7 million in 2002, it ranked as South Floridas No. 317th most-important export. Through the first 10 months of 2007, it is up 298 notches to No. 19, at $350.5 million. More than $38 million of that is headed to Switzerland.

If there are 14 new commodities in the Top 50, there are also 14 that fell out to make way. While most of those entering are more of the modern world amplifiers and speakers, centrifuges and filters, unrecorded media those falling out are not. Eight of the 14 are apparel-related, showing the impact China and the rest of Asia are having on the apparel industry that was once based in South Florida, then based in the Caribbean Basin so that it could be cut here and assembled there for re-import.

Recorded music, No. 19 in October 2002 year-to-date figures with a value of $186.3 million, has fallen this year to zero a 100 percent decrease. The same is true for photocopiers and similar machines, according to Census data, though with combination printer-copier-fax machine-scanner so common and inexpensive, the more likely explanation is simply a technology transition.

But in apparel, mens and boys suits have fallen in value from $255.5 million to $11.5 million, a nearly 96 percent decrease. Bras, girdles and garters have fallen 89.3 percent. Knit or crocheted sweaters, pullovers and vests have fallen almost 94 percent.