Miami, Fl

District in Florida, State of United States

2019
Economic
Complexity
: 0.3, Rank 22 of 39

Jan 2021
Trade
Exports | Imports
: $4.66B | $3.73B, 9 of 43 | 16 of 42

Jan 2021
Country
Destination | Origin
: Brazil | China , $924M  | $535M

Jan 2021
Product
Exports | Imports
: Aircraft Parts | Telephones , $621M  | $259M

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 2019, the highest complexity exports of Miami, Fl according to the product complexity index (PCI) are Photographic Film (1.96), Silicone (1.83), Oscilloscopes (1.77), Transmissions (1.59), and Cutting Blades (1.47). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Comparison in Time

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This section shows the differences between Miami, FL's total subnational aggregate trade throughout time. To explore the trade patterns of the country, visit United States's country profile.

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Yearly Exports

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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).

Exports Dynamics

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Fastest Growing Exports Destination (Jan 2020 - Jan 2021)

Rapidly Declining Export Origins (Jan 2020 - Jan 2021)

Yearly Imports

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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).

Imports Dynamics

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Fastest Growing Import Origins (Jan 2020 - Jan 2021)

Rapidly Declining Import Origins (Jan 2020 - Jan 2021)

Economic Complexity

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Economic Complexity of United States

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Miami, Fl ranks 22nd out of the 43 districts in United States according to ECI.

Estimated using exports data.

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Export Opportunities by Relatedness

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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), Precious Metal Watches (0.35), Phenol Derivatives (0.35), and Tungsten (0.35).

Most Complex Products by PCI

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The highest complexity exports of Miami, Fl according to the product complexity index (PCI) are Photographic Film (1.96), Silicone (1.83), Oscilloscopes (1.77), Transmissions (1.59), and Cutting Blades (1.47). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Most Specialized Products by RCA Index

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The most specialized products according to the RCA index are led by Aircraft Parts (28.8), Non-Retail Pure Cotton Yarn (15.3), Recreational Boats (13.8), Non-Retail Synthetic Staple Fibers Yarn (13.7), and Gimp Yarn (12.2).

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.

Relatedness Space

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This network shows the products most related to the production structure of  Miami, Fl. These are products that tend to be co-exported with the products that Miami, Fl exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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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.