Source: http://worldcityweb.com/home/MIA/statistics/view/122/

Miami-Spain Annual Report: No. 25 trade partner- Trade with Spain plunges

July 27th, 2006

Commerce with Spain saw the greatest drop of any of Miami’s top trade partners.

Spain turned to South Florida for medical supplies and the Miami Customs District handled rising imports of Spanish tiles and stone last year, but overall trade between the two dropped 30 percent.

No other of Miami’s top traders saw such a steep falloff.

Bilateral trade between Spain and the Miami Customs District totaled $717 million as the European nation fell seven places in South Florida’s trade partner list to anchor the bottom of the Top 25.

The greatest plunge came in Miami exports to Spain. They plummeted nearly 47 percent to total just under $41 million. Imports, meanwhile, dropped 17 percent to $465 million.

For the United States as a whole, trade with Spain was up 11 percent. Two southern U.S. ports that have been siphoning some trade away from Miami both saw increases in their commerce with Spain. Spain’s trade with the Houston/Galveston Customs District skyrocketed 42 percent last year while that with Georgia’s Savannah Customs District jumped nearly 9 percent.

Charleston, S.C., meanwhile, saw its trade with the European country jump 28.5 percent last year.

Miami exported nearly $252 million-worth of medical instruments to Spain, reflecting a dramatic 219 percent jump. Exports of aircraft parts also went up. They jumped 11.5 percent to $14 million.

But computer parts the second most important export fell in value by 83 percent to close the year at $34 million, and computers declined 55 percent to less than $9 million.

Yacht exports also dropped, plunging 69 percent to less than $14 million.

Miami’s construction boom played a role on the import side as South Florida registered gains in its imports of ceramic tiles the top product from Spain and stone monuments.

Tile imports rose nearly 13 percent to $76 million and stone products jumped nearly 23 percent to $28 million.

Non-crude oil imports were also up, jumping 141 percent to nearly $28 million.

Imports of computer parts, however, dived. They closed the year at $42 million, down more than 77 percent.

Recent Reports

Beacon Council Press Release: "South Florida Global Economic Impact Study Reveals Region’s Economic Muscle" (01/17/2008)

Multinational study looks at 'revenues under management' in Greater Miami area (10/31/2007)

7th annual Miami TradeNumbers released (06/18/2007)

1st Q: Miami, led by exports, growing faster than national average (05/21/2007)

Annual trade statistics: Miami soars past $70 billion but is losing ground (02/13/2007)

Miami in danger of falling a notch, to No. 14 behind Philadelphia (02/01/2007)

Third quarter trade results: Miami headed on pace for a strong 2006 (12/11/2006)

DR-CAFTA nations help propel Miami growth (09/15/2006)

Looking ahead (08/02/2006)

Export spree boosts Miami trade (08/02/2006)

Export frenzy feeds top traders (08/02/2006)

Mid-tier traders are on the move (08/02/2006)

Tapping trade opportunities (08/02/2006)

Understanding trade’s value (08/02/2006)

Deciphering the data (08/01/2006)

rising tide (08/01/2006)

Miami-Costa Rica Annual Report: No. 5 trade partner- Med-tech goods shape trade (07/27/2006)

Miami-Honduras Annual Report: No. 6 trade partner- Apparel dominates exchange (07/27/2006)

Miami-China Annual Report: No. 7 trade partner pushing for the top spot (07/27/2006)

Miami-Colombia Annual Report: Trade with No. 4 trade partner Colombia blooms (07/27/2006)

Miami-Dominican Republic Annual Report:No. 3 Trade partners- Slowing the trade pace (07/27/2006)

Miami-Venezuela Annual Report:Win-win with No. 2 trade partner Venezuela (07/27/2006)

Miami-Brazil Annual Report: No.1 Trade Partner Brazil loses ground in South Florida (07/27/2006)

Miami-Guatemala Annual Report: No. 8 trade partner- From apparel to agro products (07/27/2006)

Miami-Chile Annual Report: No. 9 trade partner Chile posts big trade gains (07/27/2006)

Miami-El Salvador Annual Report: No. 10 trade partner- Trade holds steady (07/27/2006)

Miami-Argentina Annual Report: No. 11 trade partner- Surplus-boosting year (07/27/2006)

Miami-UK Annual Report: No. 12 trade partner- Tapping the Americas' gateway (07/27/2006)

Miami-France Annual Report: No. 13 trade partner- Global products for good living (07/27/2006)

Miami-Mexico Annual Report: No. 14 trade partner- Reaching to Yucatan Peninsula (07/27/2006)

Miami-Italy Annual Report: No. 15 trade partner- Italian luxury captivates Miami (07/27/2006)

Miami-Peru Annual Report: No. 16 trade partner- Tariff exemptions boost trade (07/27/2006)

Miami-Ecuador Annual Report: No. 17 trade partner- Keeping on the proven path (07/27/2006)

Miami-Bahamas Annual Report: No. 18 trade partner- Feeding the toursim sector (07/27/2006)

Miami-the Netherlands Annual Report: No. 19 trade partner- High-speed growth (07/27/2006)

Miami-Germany Annual Report: No. 20 trade partner- Trade with Germany climbs (07/27/2006)

Miami-Panama Annual Report: No.21 trade partner headed toward $1 billion (07/27/2006)

Miami-Japan Annual Report: No. 22 trade partner- Import hike causes trade boost (07/27/2006)

Miami-Haiti Annual Report: No. 23 trade partner- Clothing connection (07/27/2006)

Miami-Paraguay Annual Report: No. 24 trade partner riding high on exports (07/27/2006)

Miami-Spain Annual Report: No. 25 trade partner- Trade with Spain plunges (07/27/2006)

Latin America plays growing role in South Florida trade, helping fuel a $2.2 billion surplus (03/15/2006)