Statistics

Seattle registers largest, and one of few, surpluses

February 14th, 2007

Seattle had the United States largest trade surplus nearly $10.6 billion in 2006, according to WorldCity analysis of statistics released by the U.S. Census Department. Just a year earlier, the nation’s eighth most important Customs district carried a $2.9 billion trade deficit.

The second largest surplus was posted by the Miami Customs District. Its exports exceeded its imports by almost $7.2 billion.

Seattle’s international trade grew more than 19 percent in 2006 to total nearly $120 billion. That growth outpaced the United States as a whole. U.S. trade grew 12 percent in 2006, according to trade statistics released Tuesday.

Seattle is closer to Asia than any other U.S. gateway and gains were posted with key traders in that region. China, the district’s second-most important trader after Canada, saw its exchange with Seattle climb nearly 14 percent to $21 billion.

“Seattle’s most important traders are in Asia and their exchange with the Customs District during the past year has been robust,” said WorldCity Editor Mary Dempsey. “Trade with Thailand rose nearly 128 percent while that with Malaysia nearly doubled. The exchange with Singapore was up 68 percent. South Korea’s trade with Seattle rose 21 percent.”

Seattle’s trade was also helped by a strong year at Boeing, one of Seattle’s most important manufacturers. Aircraft and aircraft parts combined to make up more than half the district’s $65 billion in exports in 2006.

Seattle’s trade with the United Arab Emirates doubled to $4.4 billion largely as a result of aircraft sales to the Middle Eastern nation.

Other highlights:

Seattle’s top two traders, Canada and China, accounted for more than 40 percent of the district’s total trade.

Twenty countries did more than $1 million in trade with Seattle in 2006.

Total U.S. trade reached $2.9 billion. Canada was the nation’s No. 1 trade partner, followed by China, which passed Mexico in 2006.

Los Angeles remained the nation’s top-ranked Customs district, followed by New York, Detroit and Houston.

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