Miami, FlDistrict 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.
Overview: In January 2021 Miami, FL exported $4.66B and imported $3.73B, resulting in a positive trade balance of $932M. Between January 2020 and January 2021 the exports of Miami, FL have decreased by $-116M (-2.44%) from $4.78B to $4.66B, while imports decreased by $-153M (-3.95%) from $3.88B to $3.73B.
Trade: In January 2021, the top exports of Miami, FL were Crude Petroleum ($4.06B), Refined Petroleum ($3.39B), Petroleum Gas ($2.86B), Commodities not elsewhere specified ($2.51B), and Soybeans ($2.1B). In January 2021 the top imports of Miami, FL were Computers ($3.02B), Cars ($2.77B), Cars ($2.56B), Telephones ($2.28B), and Cars ($1.82B).
Destinations: In January 2021, Miami, FL exported mostly to Brazil ($924M), Chile ($424M), Colombia ($307M), Dominican Republic ($285M), and Argentina ($222M), and imported mostly from China ($535M), Colombia ($285M), Dominican Republic ($216M), Chile ($190M), and Vietnam ($171M).
Growth: In January 2021, the decrease in Miami, FL's year-by-year exports was explained primarily by an decrease in exports to Canada ($-604M or -22.6%), Netherlands ($-456M or -44.1%), and Mexico ($-453M or -5.04%), and product exports decrease in Crude Petroleum ($-1.53B or -27.3%), Refined Petroleum ($-882M or -53.2%), and Refined Petroleum ($-668M or -16.5%). In January 2021, the decrease in Miami, FL's year-by-year imports was explained primarily by an decrease in imports from Ireland ($-641M or -63.5%), Ireland ($-631M or -76.8%), and Mexico ($-502M or -5.79%), and product imports decrease in Crude Petroleum ($-995M or -52.5%), Nucleic Acids ($-936M or -83.4%), and Crude Petroleum ($-748M or -34.7%).
EXPORT GROWTH (January 2020 - January 2021): $-116M, (-2.44%)
IMPORT GROWTH (January 2020 - January 2021): $-153M, (-3.95%)
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.
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.
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).
Miami, Fl ranks 22nd out of the 43 districts in United States according to ECI.
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), Precious Metal Watches (0.35), Phenol Derivatives (0.35), and Tungsten (0.35).
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.
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.
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.
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