Miami, FLDistrict in Florida, State of United States
2020 Economic Complexity : 0.31, Rank 18 of 39
Aug 2021 Trade Exports | Imports: $5.88B | $4.68B, 7 of 43 | 16 of 42
Aug 2021 Product Exports | Imports: Aircraft parts nes | Commodities not specified according to kind , $809M | $296M
Overview This page contains the latest international trade data for Miami, FL, including export and import data.
Exports In 2020, United States' Miami, Fl exported $51.1B, making it the 9th largest exporter out of the 43 exporters in United States. In 2020 the top exports of Miami, Fl were Aircraft parts nes ($6.59B), Telephones for cellular networks or for... ($2.09B), Communication apparatus (excluding telephone sets or... ($1.44B), Electronic integrated circuits: processors and controllers,... ($1.19B), and Blood, human or animal, antisera, other... ($1.17B).
Imports In 2020, United States' Miami, Fl imported $45.8B, making it the 16th largest importer out of the 43 importers in United States. In 2020 top imports of Miami, Fl were Commodities not specified according to kind ($3.89B), Gold in unwrought forms non-monetary ($2.93B), Telephones for cellular networks or for... ($2.1B), Fixed wing aircraft, unladen weight >... ($1.72B), and Fish fillets: fresh or chilled, salmon,... ($1.07B).
Economic Complexity In 2020, the highest complexity exports of Miami, Fl according to the product complexity index (PCI) are Blank Audio Media (1.74), Chemical Analysis Instruments (1.7), Photographic Plates (1.69), Motor-working Tools (1.55), and Tensile Testing Machines (1.49). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
August, 2021
Overview In August 2021 Miami, FL exported $5.88B and imported $4.68B, resulting in a positive trade balance of $1.19B. Between August 2020 and August 2021 the exports of Miami, FL have increased by $1.72B (41.5%) from $4.15B to $5.88B, while imports increased by $452M (10.7%) from $4.23B to $4.68B.
Trade In August 2021, the top exports of Miami, FL were Aircraft Parts ($814M), Blood, antisera, vaccines, toxins and cultures ($667M), Telephones ($415M), Computers ($331M), and Integrated Circuits ($161M). In August 2021 the top imports of Miami, FL were Commodities not elsewhere specified ($296M), Telephones ($241M), Gold ($225M), Knit Sweaters ($195M), and Fish Fillets ($188M).
Destinations In August 2021, Miami, FL exported mostly to Brazil ($1.57B), Chile ($401M), Dominican Republic ($370M), Colombia ($365M), and Costa Rica ($230M), and imported mostly from China ($619M), Dominican Republic ($309M), Colombia ($296M), Brazil ($245M), and Honduras ($227M).
Growth In August 2021, the increase in Miami, FL's year-by-year exports was explained primarily by an increase in exports to Brazil ($708M or 81.8%), Dominican Republic ($143M or 62.8%), and Chile ($90.1M or 29%), and product exports increase in Blood, antisera, vaccines, toxins and cultures ($553M or 485%), Aircraft Parts ($285M or 53.9%), and Computers ($83M or 33.5%). In August 2021, the increase in Miami, FL's year-by-year imports was explained primarily by an increase in imports from United Kingdom ($107M or 125%), China ($95.9M or 18.4%), and Italy ($89M or 66.7%), and product imports increase in Knit Sweaters ($78.3M or 66.9%), Fish Fillets ($61.1M or 48.3%), and Knit T-shirts ($42.5M or 37.8%).
EXPORT GROWTH (August 2020 - August 2021): $1.72B, (41.5%)
IMPORT GROWTH (August 2020 - August 2021): $452M, (10.7%)
This section shows exports and imports data at subnational level for Miami, FL. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of Miami, FL over time.
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Top Destination (2020): Brazil, $10.7B
Top Product (2020): Aircraft parts nes, $6.59B
In 2020 the top export destinations of Miami, Fl were Brazil ($10.7B), Colombia ($3.63B), Chile ($3.53B), Dominican Republic ($2.6B), and Argentina ($2.27B).
In 2020 the top exports of Miami, Fl were Aircraft parts nes ($6.59B), Telephones for cellular networks or for... ($2.09B), Communication apparatus (excluding telephone sets or... ($1.44B), Electronic integrated circuits: processors and controllers,... ($1.19B), and Blood, human or animal, antisera, other... ($1.17B).
Top Origin (2020): China, $5.29B
Top Import (2020): Commodities not specified according to kind, $3.89B
In 2020 the top import origins of Miami, Fl were China ($5.29B), Colombia ($3.28B), Brazil ($3.11B), Dominican Republic ($2.97B), and France ($2.9B).
In 2020 the top imports of Miami, Fl were Commodities not specified according to kind ($3.89B), Gold in unwrought forms non-monetary ($2.93B), Telephones for cellular networks or for... ($2.1B), Fixed wing aircraft, unladen weight >... ($1.72B), and Fish fillets: fresh or chilled, salmon,... ($1.07B).
Fastest Growing Import Origins (Aug 2020 - Aug 2021)
Rapidly Declining Import Origins (Aug 2020 - Aug 2021)
Economic Complexity (2020): 0.31
Miami, Fl ranks 18th out of the 43 districts in United States according to ECI.
The Economic Complexity Index, or ECI, is a measure of an economy’s capacity which can be inferred from data connecting locations to the activities that are present in them. For more info about Economic Complexity, visit the Economic Complexity page.
Estimated using exports data.
The top export opportunities according to the relatedness level, without considering those products were Miami, Fl already has a comparative advantage, are led by Non-optical Microscopes (0.36), Copper Fasteners (0.36), Phenol Derivatives (0.36), Other Measuring Instruments (0.35), and Other Electrical Machinery (0.34).
The highest complexity exports of Miami, Fl according to the product complexity index (PCI) are Blank Audio Media (1.74), Chemical Analysis Instruments (1.7), Photographic Plates (1.69), Motor-working Tools (1.55), and Tensile Testing Machines (1.49). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The most specialized products according to the RCA index are led by Aircraft Parts (25.7), Non-Retail Pure Cotton Yarn (13.0), Non-Retail Synthetic Staple Fibers Yarn (12.9), Recreational Boats (12.9), and Telephones (10.0).
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since Miami, Fl is more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a territory's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.