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Statistics
Long view shows New York losing ground
October 16th, 2006
New York’s trade has more than doubled since the early 1990s, but it has fallen in that time from its perch as the nation’s leading Customs district for total trade and exports because its growth rate has been slower than most other U.S. Customs districts.
In 1994, Los Angeles became the nation’s leading Customs district, a position it has held for every year since then except for 2001. Surprisingly, New York recaptured the top rank that year, despite the disruption of the Sept. 11 terrorist attacks, because Los Angeles’ trade fell even more.
That year, 2001, is the only year in the “modern era” of trade since the fall of the Berlin Wall and the opening of the former Soviet bloc nations to trade that U.S. trade has fallen.
New York also used to be No. 1 in total exports but Los Angeles took the top spot in 1995, holding the honor until 1998. That year, New York slipped ahead of Los Angeles but Detroit surpassed both and has remained No. 1 ever since.
When it comes to trade deficit, New York has been No. 2 to Los Angeles since the early 1990s.
Through the first eight months of this year, New York’s trade with the world increased $20.3 billion and almost 12 percent compared to the same eight-month period in 2005, according to WorldCity analysis of the most recent U.S. Census data. Its total trade was valued at $193.7 billion.
| Rank Change | 2006 | 2005 | Total Trade | August 2006 YTD | August 2005 YTD | Dollar Change | Percent Change |
|---|---|---|---|---|---|---|---|
| World Total | $193,673,722,543 | $173,380,231,697 | $20,293,490,846 | 11.70% | |||
| 0 | 1 | 1 | China | $19,981,224,559 | $17,524,968,981 | $2,456,255,578 | 14.02% |
| 0 | 2 | 2 | Japan | $15,215,442,423 | $14,127,275,893 | $1,088,166,530 | 7.70% |
| 2 | 3 | 5 | United Kingdom | $14,923,843,061 | $11,415,155,514 | $3,508,687,547 | 30.74% |
| -1 | 4 | 3 | Germany | $13,146,353,357 | $12,279,737,009 | $866,616,348 | 7.06% |
| -1 | 5 | 4 | Israel | $11,922,610,396 | $11,684,065,381 | $238,545,015 | 2.04% |
| 0 | 6 | 6 | Italy | $9,542,335,209 | $8,879,283,003 | $663,052,206 | 7.47% |
| 0 | 7 | 7 | France | $8,582,907,032 | $8,191,880,104 | $391,026,928 | 4.77% |
| 0 | 8 | 8 | Switzerland | $7,642,308,735 | $6,698,337,841 | $943,970,894 | 14.09% |
| 0 | 9 | 9 | India | $7,153,206,200 | $6,528,069,605 | $625,136,595 | 9.58% |
| 1 | 10 | 11 | Belgium | $5,997,740,568 | $5,238,084,907 | $759,655,661 | 14.50% |
| 2 | 11 | 13 | Netherlands | $5,349,737,289 | $4,372,902,116 | $976,835,173 | 22.34% |
| -2 | 12 | 10 | South Korea | $5,064,761,358 | $5,331,778,609 | $(267,017,251) | -5.01% |
| -1 | 13 | 12 | Ireland | $4,200,067,221 | $4,422,680,707 | $(222,613,486) | -5.03% |
| 0 | 14 | 14 | Hong Kong | $3,962,449,537 | $3,691,111,924 | $271,337,613 | 7.35% |
| 1 | 15 | 16 | Singapore | $3,280,380,038 | $2,804,000,750 | $476,379,288 | 16.99% |
| -1 | 16 | 15 | Taiwan | $3,268,319,176 | $3,125,479,944 | $142,839,232 | 4.57% |
| 3 | 17 | 20 | South Africa | $3,168,852,364 | $2,362,443,515 | $806,408,849 | 34.13% |
| 1 | 18 | 19 | Russia | $3,039,846,151 | $2,393,885,096 | $645,961,055 | 26.98% |
| -1 | 19 | 18 | Brazil | $3,036,427,917 | $2,480,404,446 | $556,023,471 | 22.42% |
| -3 | 20 | 17 | Spain | $2,914,630,890 | $2,492,449,369 | $422,181,521 | 16.94% |
| 2 | 21 | 23 | Canada | $2,497,596,777 | $1,875,865,229 | $621,731,548 | 33.14% |
| -1 | 22 | 21 | Sweden | $2,351,646,180 | $2,315,293,530 | $36,352,650 | 1.57% |
| -1 | 23 | 22 | Thailand | $1,943,077,529 | $2,029,913,543 | $(86,836,014) | -4.28% |
| 0 | 24 | 24 | Turkey | $1,649,019,583 | $1,663,897,538 | $(14,877,955) | -0.89% |
| 5 | 25 | 30 | Finland | $1,349,471,663 | $995,545,100 | $353,926,563 | 35.55% |
Total exports increased $9.1 billion and 15.4 percent while imports were up $11.2 billion and 9.8 percent. The deficit grew $2.1 billion, or 3.8 percent.
Among imports, refined petroleum products increased more than 52 percent, year over year, and it leapfrogged diamonds and motor vehicles to occupy the No. 1 position.
| Rank Change | 2006 | 2005 | August 2006 YTD | August 2005 YTD | Dollar Change | Percent Change | |
|---|---|---|---|---|---|---|---|
| Total, All Imports | $125,341,585,443 | $114,161,331,611 | $11,180,253,832 | 9.79% | |||
| 2 | 1 | 3 | Oil, not crude | $11,337,653,440 | $7,444,271,268 | $3,893,382,172 | 52.30% |
| -1 | 2 | 1 | Diamonds, not mounted | $10,180,551,769 | $9,373,567,597 | $806,984,172 | 8.61% |
| -1 | 3 | 2 | Motor vehicles for transporting people | $9,864,305,324 | $8,508,510,230 | $1,355,795,094 | 15.93% |
| 0 | 4 | 4 | Medicine | $4,456,794,523 | $5,819,859,628 | ($1,363,065,105) | -23.42% |
| 1 | 5 | 6 | Crude oil from Petroleum, bituminous minerals | $3,980,454,913 | $2,937,122,990 | $1,043,331,923 | 35.52% |
| 4 | 6 | 10 | Unwrought platinum in various forms | $3,393,678,407 | $2,054,951,159 | $1,338,727,248 | 65.15% |
| 1 | 7 | 8 | Jewelry, parts | $3,056,615,493 | $2,591,877,761 | $464,737,732 | 17.93% |
| -3 | 8 | 5 | Women's or girls' suits, not knit | $2,948,796,536 | $3,100,838,540 | ($152,042,004) | -4.90% |
| -2 | 9 | 7 | Exports of repaired imports Imports of returned exports | $2,299,167,823 | $2,615,605,296 | ($316,437,473) | -12.10% |
| -1 | 10 | 9 | Sweaters, pullovers, vest, knit or crocheted | $1,860,505,005 | $2,055,495,315 | ($194,990,310) | -9.49% |
| 2 | 11 | 13 | Paintings, drawings and other artwork | $1,839,772,408 | $1,462,835,199 | $376,937,209 | 25.77% |
| 3 | 12 | 15 | Computer parts | $1,810,227,661 | $1,233,960,192 | $576,267,469 | 46.70% |
| -1 | 13 | 12 | Computers | $1,801,852,634 | $1,490,957,975 | $310,894,659 | 20.85% |
| 0 | 14 | 14 | Footware, sole of rubber, plastic or leather; upper leather | $1,373,091,658 | $1,274,438,782 | $98,652,876 | 7.74% |
| -4 | 15 | 11 | Transmission apparatus for cellular phones | $1,367,357,331 | $1,725,415,548 | ($358,058,217) | -20.75% |
| 1 | 16 | 17 | Regional jet parts | $1,289,975,677 | $1,187,712,565 | $102,263,112 | 8.61% |
| -1 | 17 | 16 | Men's or boys' suits, not knit | $1,170,021,736 | $1,188,270,088 | ($18,248,352) | -1.54% |
| 1 | 18 | 19 | Travel goods, including handbags, wallets, jewelry cases | $1,023,431,944 | $905,484,964 | $117,946,980 | 13.03% |
| -1 | 19 | 18 | Furniture, parts | $999,111,575 | $961,169,356 | $37,942,219 | 3.95% |
| 0 | 20 | 20 | Wine | $912,177,344 | $809,511,906 | $102,665,438 | 12.68% |
| 0 | 21 | 21 | Wrist and pocket watches, not precious metals | $813,876,323 | $762,360,025 | $51,516,298 | 6.76% |
| 4 | 22 | 26 | Motor vehicle parts | $780,297,956 | $613,706,106 | $166,591,850 | 27.15% |
| 0 | 23 | 23 | Heterocyclic chemical compounds | $688,960,857 | $682,089,419 | $6,871,438 | 1.01% |
| -2 | 24 | 22 | Women's or girls' blouses, not knit | $650,849,586 | $708,369,090 | ($57,519,504) | -8.12% |
| -1 | 25 | 24 | Medical instruments for surgeons, dentists, vets | $621,514,265 | $649,228,939 | ($27,714,674) | -4.27% |
Among exports, diamonds kept their No. 1 rank, followed by jet parts and regional jet parts. Gold moved up two notches, pushed up much like oil by rising commodity prices.
| Rank Change | 2006 | 2005 | Aug. 2006 YTD | Aug. 2005 YTD | Dollar Change | Percent Change | |
|---|---|---|---|---|---|---|---|
| Total, All Exports | $68,332,137,100 | $59,218,900,086 | $9,113,237,014 | 15.39% | |||
| 0 | 1 | 1 | Diamonds, not mounted | $6,102,008,231 | $5,308,578,793 | $793,429,438 | 14.95% |
| 0 | 2 | 2 | Regional jet parts | $2,853,814,709 | $3,130,767,609 | $(276,952,900) | -8.85% |
| 0 | 3 | 3 | Aircraft parts | $2,690,197,832 | $2,482,569,711 | $207,628,121 | 8.36% |
| 2 | 4 | 6 | Gold | $2,606,175,040 | $1,777,412,775 | $828,762,265 | 46.63% |
| 0 | 5 | 5 | Paintings, drawings and other artwork | $2,448,491,622 | $1,793,401,566 | $655,090,056 | 36.53% |
| -2 | 6 | 4 | Electronic integrated circuits | $2,072,427,361 | $1,899,782,706 | $172,644,655 | 9.09% |
| 1 | 7 | 8 | Jewelry, parts | $1,953,086,426 | $1,458,226,715 | $494,859,711 | 33.94% |
| 5 | 8 | 13 | Unwrought platinum in various forms | $1,908,967,261 | $838,436,476 | $1,070,530,785 | 127.68% |
| -2 | 9 | 7 | Medical instruments for surgeons, dentists, vets | $1,441,824,366 | $1,670,358,790 | $(228,534,424) | -13.68% |
| 1 | 10 | 11 | Medicine | $1,352,241,497 | $1,048,639,144 | $303,602,353 | 28.95% |
| -1 | 11 | 10 | Motor vehicles for transporting people | $1,213,721,735 | $1,084,003,268 | $129,718,467 | 11.97% |
| -3 | 12 | 9 | Computers | $1,102,549,675 | $1,180,066,947 | $(77,517,272) | -6.57% |
| -1 | 13 | 12 | Computer parts | $999,144,186 | $938,623,017 | $60,521,169 | 6.45% |
| 1 | 14 | 15 | Medical technology | $986,557,317 | $771,745,940 | $214,811,377 | 27.83% |
| -1 | 15 | 14 | Medical equipment for physicals, including anal exams | $850,904,500 | $813,445,019 | $37,459,481 | 4.61% |
All of those percentage increases total trade, imports and exports are below the U.S. averages, though in dollar terms New York’s increases are among the greatest.
NY likely to narrowly miss surpassing $300 billion in annual trade for 2006 (02/01/2007)
New York exports to Britain post a jump (12/11/2006)
Long view shows New York losing ground (10/16/2006)
New York posts big deficit thanks to $23 billion influx of goods from China (03/15/2006)
NY's trade increases 10% this year
China, Israel, India are fastest-growing (01/01/2006)
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