Miami’s Q1 2024 trends
In the first quarter of 2024, the Miami Customs District experienced a dynamic trade performance, underscored by a diversified portfolio of trading partners and products. Brazil stood out as the top trading partner at $4.27 billion, driven by the exchange of industrial goods and commodities like aircraft parts. Colombia and China followed, with $2.38 billion and $2 billion respectively, largely because of their imports to the district.
On the import side, unspecified commodities topped the list at $1.68 billion, followed by telephones ($1.18 billion) and gold ($751 million), showcasing a diverse range of incoming goods. Exports were dominated by high-value items such as aircraft parts ($2.39 billion), telephones ($1.55 billion), and packaged medications ($998 million), highlighting Miami’s role as a crucial hub for technological and medical products. The presence of recreational boats in both export ($376 million) and import ($412 million) categories also signified Miami’s strategic importance in the luxury goods market.
