Overview: In January 2021 Miami, FL exported $788M and imported $1.55B, resulting in a negative trade balance of $759M. Between January 2020 and January 2021 the exports of Miami, FL have decreased by $-34.6M (-4.2%) from $822M to $788M, while imports increased by $340M (28.2%) from $1.21B to $1.55B.
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 Dominican Republic ($127M), Honduras ($76.6M), Peru ($70.3M), Guatemala ($46.3M), and Colombia ($44.6M), and imported mostly from China ($307M), Ireland ($178M), Dominican Republic ($111M), Italy ($105M), and Honduras ($87.7M).
Growth: In January 2021, the decrease in Miami, FL's year-by-year exports was explained primarily by an decrease in exports to Canada ($-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 increase in Miami, FL's year-by-year imports was explained primarily by an increase in imports from China ($1.85B or 59%), China ($1.79B or 20.1%), and Switzerland ($851M or 229%), and product imports increase in Computers ($1.32B or 78.1%), Other Precious Metal Products ($851M or 2.19k%), and Computers ($792M or 126%).