Miami, FLDistrict in Florida, State of United States
2020 Economic Complexity : 0.34, Rank 18 of 40
Aug 2022 Trade Exports | Imports: $6.11B | $5.25B, 8 of 43 | 18 of 42
Aug 2022 Country Destination | Origin: Brazil | China , $1.19B | $611M
Aug 2022 Product Exports | Imports: Other Aircraft parts | Commodities not specified according to kind , $926M | $508M
Overview This page contains the latest international trade data for Miami, FL. In August 2022 Miami, FL was the number 9 in total exports and the number 17 in total imports in United States.
Exports In 2021, United States' Miami, Fl exported $64.8B, making it the 9th largest exporter out of the 43 exporters in United States. In 2021 the top exports of Miami, Fl were Other Aircraft parts ($8.14B), Vaccines, human use ($2.93B), Telephones for cellular networks or for... ($2.77B), Automatic data processing machines: portable, weighing... ($1.86B), and Communication apparatus (excluding telephone sets or... ($1.67B).
Imports In 2021, United States' Miami, Fl imported $55.5B, making it the 17th largest importer out of the 43 importers in United States. In 2021 top imports of Miami, Fl were Commodities not specified according to kind ($3.7B), Gold in unwrought forms non-monetary ($3.18B), Telephones for cellular networks or for... ($2.53B), Fish fillets: fresh or chilled, salmon,... ($1.46B), and Cigars, cheroots and cigarillos, containing tobacco ($1.33B).
Economic Complexity In 2020, the highest complexity exports of Miami, Fl according to the product complexity index (PCI) are Telephones (0.82), Aircraft Parts (0.76), Tantalum (0.49), Recreational Boats (0.16), and Non-Retail Mixed Cotton Yarn (-0.43). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
August, 2022
Overview In August 2022 Miami, FL exported $6.11B and imported $5.25B, resulting in a positive trade balance of $856M. Between August 2021 and August 2022 the exports of Miami, FL have increased by $231M (3.94%) from $5.88B to $6.11B, while imports increased by $570M (12.2%) from $4.68B to $5.25B.
Trade In August 2022, the top exports of Miami, FL were Aircraft Parts ($926M), Telephones ($376M), Computers ($281M), Medical Instruments ($168M), and Integrated Circuits ($148M). In August 2022 the top imports of Miami, FL were Commodities not elsewhere specified ($508M), Gold ($291M), Telephones ($231M), Fish Fillets ($209M), and Knit Sweaters ($196M).
Destinations In August 2022, Miami, FL exported mostly to Brazil ($1.19B), Colombia ($421M), Dominican Republic ($401M), Chile ($361M), and Argentina ($261M), and imported mostly from China ($611M), Colombia ($345M), Dominican Republic ($318M), Honduras ($268M), and Brazil ($251M).
Growth In August 2022, the increase in Miami, FL's year-by-year exports was explained primarily by an increase in exports to Argentina ($84.1M or 61.1%), Chile ($69.8M or 19.7%), and Brazil ($42.8M or 4.86%), and product exports increase in Computers ($66.9M or 25.5%), Vaccines, blood, antisera, toxins and cultures ($53.6M or 92.2%), and Telephones ($41.8M or 12.3%). In August 2022, the increase in Miami, FL's year-by-year imports was explained primarily by an increase in imports from Vietnam ($77.9M or 83.9%), Colombia ($64.4M or 29.2%), and China ($63.7M or 13.5%), and product imports increase in Gold ($99.1M or 76.9%), Telephones ($55.4M or 27.2%), and Integrated Circuits ($41M or 107%).
EXPORT GROWTH (August 2021 - August 2022): $231M, (3.94%)
IMPORT GROWTH (August 2021 - August 2022): $570M, (12.2%)
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 (2021): Brazil, $14.1B
Top Product (2021): Other Aircraft parts , $8.14B
In 2021 the top export destinations of Miami, Fl were Brazil ($14.1B), Colombia ($4.66B), Chile ($4.55B), Dominican Republic ($3.76B), and Argentina ($3.04B).
In 2021 the top exports of Miami, Fl were Other Aircraft parts ($8.14B), Vaccines, human use ($2.93B), Telephones for cellular networks or for... ($2.77B), Automatic data processing machines: portable, weighing... ($1.86B), and Communication apparatus (excluding telephone sets or... ($1.67B).
Top Origin (2021): China, $6.37B
Top Import (2021): Commodities not specified according to kind, $3.7B
In 2021 the top import origins of Miami, Fl were China ($6.37B), Colombia ($3.99B), Dominican Republic ($3.64B), Brazil ($2.62B), and France ($2.46B).
In 2021 the top imports of Miami, Fl were Commodities not specified according to kind ($3.7B), Gold in unwrought forms non-monetary ($3.18B), Telephones for cellular networks or for... ($2.53B), Fish fillets: fresh or chilled, salmon,... ($1.46B), and Cigars, cheroots and cigarillos, containing tobacco ($1.33B).
Fastest Growing Import Origins (Aug 2021 - Aug 2022)
Rapidly Declining Import Origins (Aug 2021 - Aug 2022)
Economic Complexity (2021): 0.34
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), Developed Exposed Photographic Material (0.35), Phenol Derivatives (0.34), Nickel Sheets (0.34), and Copper Fasteners (0.34).
The highest complexity exports of Miami, Fl according to the product complexity index (PCI) are Telephones (0.82), Aircraft Parts (0.76), Tantalum (0.49), Recreational Boats (0.16), and Non-Retail Mixed Cotton Yarn (-0.43). 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 (27.2), Non-Retail Synthetic Staple Fibers Yarn (16.7), Non-Retail Pure Cotton Yarn (15.7), Tantalum (11.6), and Non-Retail Mixed Cotton Yarn (10.9).
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. Bubble size corresponds to exports value by year 2020.
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