Statistics
Annual statistics: New York finishes with $295 billion in total trade, No. 2 ranking
February 13th, 2007
New York’s international trade jumped more than 10 percent in 2006, setting the stage for the nation’s second most important Customs district to pass the $300 billion trade mark this year.
Only Los Angeles ports and airports handled more cargo in 2006 than New York, which closed the year with $295 billion in trade. High oil prices boosted both sides of the trade sheet. And fast-growing imports and exports of unwrought platinum added an extra $4 billion to the area’s trade results, according to WorldCity analysis of trade statistics released today by the U.S. Census Department.
The commercial exchange with China, New York’s top trade partner, continued strong, gaining nearly 16 percent to exceed $31 billion. The Asian powerhouse accounted for more than a tenth of the district’s trade, with imports outpacing exports by more than five-to-one.
But the fastest growth among the Top 25 traders in 2006 came with Austria, which more than doubled its commerce with New York. Imports dominate that trade relationship. They rose nearly 136 percent.
“Although New York’s trade grew more than 10 percent in 2006, it failed to keep pace with the 12 percent trade growth in the nation as a whole,” said WorldCity Editor Mary Dempsey.
| 2006 | 2005 | Total Trade | 2006 | 2005 | Dollar Change | Percent change |
|---|---|---|---|---|---|---|
| All Districts | $2,892,262,227,012 | $2,579,432,153,064 | $312,830,073,948 | 12.13% | ||
| 1 | 1 | Los Angeles, California | $329,422,995,915 | $293,946,624,166 | $35,476,371,749 | 12.07% |
| 2 | 2 | New York City, New York | $295,007,419,490 | $267,585,279,284 | $27,422,140,206 | 10.25% |
| 3 | 3 | Detroit, Michigan | $238,504,923,059 | $229,933,862,350 | $8,571,060,709 | 3.73% |
| 4 | 5 | Houston, Texas | $162,184,758,421 | $136,451,170,833 | $25,733,587,588 | 18.86% |
| 5 | 4 | Laredo, Texas | $157,451,698,203 | $139,277,623,715 | $18,174,074,488 | 13.05% |
| 6 | 6 | New Orleans, Louisiana | $153,034,232,587 | $130,369,162,897 | $22,665,069,690 | 17.39% |
| 7 | 7 | Chicago, Illinois | $120,649,125,594 | $108,616,667,535 | $12,032,458,059 | 11.08% |
| 8 | 8 | Seattle, Washington | $119,894,432,431 | $100,551,731,987 | $19,342,700,444 | 19.24% |
| 9 | 9 | San Francisco, Calif. | $111,115,763,668 | $98,952,033,098 | $12,163,730,570 | 12.29% |
| 10 | 11 | Savannah, Georgia | $82,472,671,175 | $72,545,576,486 | $9,927,094,689 | 13.68% |
| 11 | 10 | Buffalo, New York | $82,246,675,402 | $77,601,557,864 | $4,645,117,538 | 5.99% |
| 12 | 12 | Cleveland, Ohio | $77,575,803,260 | $69,837,369,038 | $7,738,434,222 | 11.08% |
| 13 | 13 | Miami, Florida | $72,078,088,844 | $65,898,071,729 | $6,180,017,115 | 9.38% |
| 14 | 14 | Philadelphia, Pa. | $69,203,265,820 | $58,005,790,166 | $11,197,475,654 | 19.30% |
| 15 | 15 | Dallas, Texas | $58,278,924,487 | $49,599,138,296 | $8,679,786,191 | 17.50% |
| 16 | 17 | El Paso, Texas | $52,238,557,920 | $47,921,799,187 | $4,316,758,733 | 9.01% |
| 17 | 18 | San Diego, California | $50,772,885,681 | $43,392,364,988 | $7,380,520,693 | 17.01% |
| 18 | 16 | Charleston, S. Carolina | $49,271,746,203 | $48,045,072,031 | $1,226,674,172 | 2.55% |
| 19 | 20 | Norfolk, Virginia | $44,452,456,136 | $40,274,714,178 | $4,177,741,958 | 10.37% |
| 20 | 19 | Ogdensburg, New York | $44,415,271,961 | $41,436,225,861 | $2,979,046,100 | 7.19% |
| 21 | 22 | Great Falls, Montana | $40,259,076,408 | $36,820,331,881 | $3,438,744,527 | 9.34% |
| 22 | 21 | Baltimore, Maryland | $39,639,021,735 | $38,619,563,558 | $1,019,458,177 | 2.64% |
| 23 | 25 | Tampa, Florida | $37,667,053,486 | $29,465,119,589 | $8,201,933,897 | 27.84% |
| 24 | 23 | Low Value Shipments | $36,960,859,345 | $32,154,682,418 | $4,806,176,927 | 14.95% |
| 25 | 24 | Boston, Massachusetts | $33,269,907,132 | $32,071,776,690 | $1,198,130,442 | 3.74% |
*Other 2006 trade highlights: *
Among the top 25 traders, New York posted gains in 2006 with all but five: South Korea, Ireland, Sweden, Thailand and Turkey.
New York the most important U.S. gateway for the United Kingdom. The exchange between the Customs district and the European nation climbed to $21.8 billion behind a 54 percent leap in exports.
New York added $2.5 billion to its trade deficit with China.
New York imported more than $15 billion-worth of diamonds, making them the Customs district’s most valuable product. Diamonds were also the No. 1 export. Some $9 billion-worth of the gemstones were shipped out of New York in 2006.
Total U.S. trade almost surpassed $3 trillion for the first time, ending at $2.9 trillion. Canada was the top trade partner, followed by China, which overtook Mexico in 2006.
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)