Statistics
New Orleans sets record for trade, passes $150 billion
February 16th, 2007
The New Orleans Customs district’s trade with the world topped $150 billion for the first time ever in 2006, according to U.S. Census statistics released this week and analyzed by WorldCity.
Also in 2006, New Orleans registered more than $100 billion in total imports for the first time ever. New Orleans, the nation’s sixth-busiest Customs district, only passed $100 billion in total trade for the first time two years before, in 2004.
Overall, New Orleans’ trade increased at more than 17 percent, more rapidly than the U. S. average of 12 percent. Among the Top 10 Customs districts, only Houston and Seattle grew more rapidly.
“New Orleans is so critical to the economic health not just of the immediate area but the entire Midwest that feeds off the Mississippi River traffic,” said WorldCity President Ken Roberts. “So those results show the ultimate strength not just of the local seaports in and around New Orleans but the U.S. economy overall.”
| 2006 | 2005 | Total Trade | 2006 | 2005 | Dollar Change | Percent Change |
|---|---|---|---|---|---|---|
| World Total | $153,034,232,587 | $130,369,162,897 | $22,665,069,690 | 17.39% | ||
| 1 | 2 | Mexico | $11,571,725,140 | $8,890,055,988 | $2,681,669,152 | 30.16% |
| 2 | 1 | Canada | $10,467,454,568 | $10,449,911,698 | $17,542,870 | 0.17% |
| 3 | 3 | China | $10,128,436,997 | $8,406,977,082 | $1,721,459,915 | 20.48% |
| 4 | 4 | Saudi Arabia | $9,887,056,050 | $8,173,228,680 | $1,713,827,370 | 20.97% |
| 5 | 5 | Japan | $8,843,003,615 | $7,624,908,306 | $1,218,095,309 | 15.98% |
| 6 | 6 | Venezuela | $7,293,990,596 | $7,336,848,660 | ($42,858,064) | -0.58% |
| 7 | 7 | Nigeria | $6,957,335,847 | $6,791,203,422 | $166,132,425 | 2.45% |
| 8 | 8 | Malaysia | $6,849,255,565 | $6,514,742,968 | $334,512,597 | 5.13% |
| 9 | 10 | Germany | $5,167,214,613 | $3,980,537,068 | $1,186,677,545 | 29.81% |
| 10 | 11 | Brazil | $4,950,049,261 | $3,599,031,132 | $1,351,018,129 | 37.54% |
| 11 | 13 | France | $4,826,668,524 | $3,182,003,289 | $1,644,665,235 | 51.69% |
| 12 | 9 | United Kingdom | $4,548,829,392 | $4,116,335,987 | $432,493,405 | 10.51% |
| 13 | 12 | Russia | $4,405,906,621 | $3,463,927,928 | $941,978,693 | 27.19% |
| 14 | 16 | Iraq | $3,695,551,348 | $2,522,976,692 | $1,172,574,656 | 46.48% |
| 15 | 15 | Angola | $3,432,397,686 | $2,726,856,070 | $705,541,616 | 25.87% |
| 16 | 14 | Ireland | $3,333,945,286 | $3,016,728,820 | $317,216,466 | 10.52% |
| 17 | 17 | Netherlands | $2,873,722,618 | $2,083,666,194 | $790,056,424 | 37.92% |
| 18 | 18 | Algeria | $2,762,638,969 | $2,020,075,797 | $742,563,172 | 36.76% |
| 19 | 19 | Singapore | $2,335,125,545 | $1,831,355,114 | $503,770,431 | 27.51% |
| 20 | 20 | Belgium | $2,126,507,373 | $1,830,982,985 | $295,524,388 | 16.14% |
| 21 | 23 | South Korea | $2,021,411,496 | $1,701,758,860 | $319,652,636 | 18.78% |
| 22 | 22 | Taiwan | $1,771,254,836 | $1,726,457,339 | $44,797,497 | 2.59% |
| 23 | 21 | Kuwait | $1,713,631,699 | $1,827,855,841 | ($114,224,142) | -6.25% |
| 24 | 25 | Italy | $1,612,685,538 | $1,300,887,478 | $311,798,060 | 23.97% |
| 25 | 28 | Israel | $1,375,040,967 | $982,720,051 | $392,320,916 | 39.92% |
| 26 | 30 | Indonesia | $1,355,783,462 | $927,841,311 | $427,942,151 | 46.12% |
| 27 | 26 | Trinidad and Tobago | $1,352,432,181 | $1,204,316,066 | $148,116,115 | 12.30% |
| 28 | 24 | Colombia | $1,340,149,150 | $1,344,378,531 | ($4,229,381) | -0.31% |
| 29 | 27 | Egypt | $1,260,388,882 | $1,042,040,253 | $218,348,629 | 20.95% |
| 30 | 29 | Aruba | $1,258,311,112 | $928,160,005 | $330,151,107 | 35.57% |
| 31 | 31 | South Africa | $1,079,116,311 | $926,391,279 | $152,725,032 | 16.49% |
| 32 | 33 | India | $1,046,898,398 | $808,875,221 | $238,023,177 | 29.43% |
| 33 | 32 | Switzerland | $1,033,115,367 | $916,496,012 | $116,619,355 | 12.72% |
| 34 | 34 | Thailand | $1,024,722,499 | $795,202,642 | $229,519,857 | 28.86% |
| 35 | 35 | Norway | $955,136,622 | $744,960,951 | $210,175,671 | 28.21% |
| 36 | 38 | Australia | $867,746,163 | $626,170,861 | $241,575,302 | 38.58% |
| 37 | 43 | Turkey | $789,520,478 | $525,331,591 | $264,188,887 | 50.29% |
| 38 | 40 | Hong Kong | $635,497,230 | $546,509,785 | $88,987,445 | 16.28% |
| 39 | 44 | Argentina | $609,589,130 | $507,720,607 | $101,868,523 | 20.06% |
| 40 | 36 | Dominican Republic | $589,623,145 | $659,003,268 | ($69,380,123) | -10.53% |
| 41 | 42 | Philippines | $568,920,815 | $528,635,594 | $40,285,221 | 7.62% |
| 42 | 45 | Jamaica | $562,493,095 | $469,533,184 | $92,959,911 | 19.80% |
| 43 | 39 | Honduras | $549,957,129 | $587,896,456 | ($37,939,327) | -6.45% |
| 44 | 41 | Spain | $547,920,412 | $530,680,791 | $17,239,621 | 3.25% |
| 45 | 37 | Ecuador | $522,568,225 | $636,440,924 | ($113,872,699) | -17.89% |
| 46 | 50 | Peru | $506,579,287 | $339,943,629 | $166,635,658 | 49.02% |
| 47 | 81 | Libya | $495,408,599 | $90,860,367 | $404,548,232 | 445.24% |
| 48 | 48 | Sweden | $485,464,010 | $396,237,530 | $89,226,480 | 22.52% |
| 49 | 46 | Guatemala | $422,803,493 | $420,419,044 | $2,384,449 | 0.57% |
| 50 | 63 | Chad | $385,413,308 | $179,790,358 | $205,622,950 | 114.37% |
The primary driver for the 2006 growth was imports into the Port of New Orleans as well as Morgan City and Lake Charles. While the Customs district includes airports and seaports in Mississippi, Arkansas and Tennessee, it is dominated by New Orleans and Louisiana. The New Orleans seaport registered $38.5 billion of the district’s $100 billion in imports, followed by Morgan City’s $25.5 billion.
Mexico is the new No. 1 trade partner, slipping past Canada. The Top 10 also includes China, Saudi Arabia, Japan, Venezuela, Nigeria, Malaysia, Germany and Brazil.
Mexico registered 30 percent growth in 2006, led by surging imports into New Orleans. Canada was the first nation to ever exceed $10 billion in trade with New Orleans when it did so in 2005; in 2006, it was joined by Mexico and China.
New Orleans had 34 members in its Billion Dollar Club in 2006, those nations whose total imports and exports exceed $1 billion, an impressive seven more than the previous year.
The Customs districts’ imports far exceeded its exports, leading to a $73 billion trade deficit, the third-largest in the nation behind Los Angeles and New York. Nevertheless, New Orleans had a trade surplus with 113 nations, while registering a trade deficit with 104. The largest deficits are with the oil-producing countries of Saudi Arabia, Nigeria, Venezuela, Mexico, Angola and Russia as well as manufacturers like Malaysia and China.
U.S. trade narrowly missed the $3 trillion mark for the year, ending at $2.9 trillion. Exports for the first time ever surpassed $100 billion.