Trade Statistics

Top Import Origins First Quarter 2023

Q1 2023 | TOTAL $15.7B

Top Import Origins First Quarter 2023

Q1 2023 | TOTAL $15.7B

In the first quarter of 2023, the Miami Customs District (MCD) exported $18.3B and imported $15.7B, resulting in a positive trade balance of $2.6B. Between the first quarter of 2022 and the first quarter of 2023, the exports of MCD have increased by 5.42% from $17.4B to $18.3B, while imports increased by 4.8% from $15B to $15.7B. In Q1 of 2023, MCD mostly exported to Brazil ($3.31B), Colombia ($1.22B), Chile ($1.09B), Dominican Republic ($1.05B), and Argentina ($781M), and imported mostly from China ($1.58B), Colombia ($1.16B), Dominican Republic ($914M), France ($874M), and Chile ($786M).

Trade

In the first quarter of 2023, the top exports of the Miami Customs District (MCD) were aircraft parts ($2.37B), telephones ($1.53B), computers ($957M), packaged medications ($639M), and cars ($469M). In Q1 of 2023, top imports of MCD included unspecified commodities ($1.35B), gold (800M), fish fillets ($715M), telephones ($677M), and gas turbines ($512M).

 

From Q1 2022 to Q1 2023, the increase in the Miami Customs District’s exports was primarily explained by an increase in exports to Venezuela (up $153M or 64.1%), Turkey (up $62.5M or 273%), China (up $151M or 148%), Paraguay ($142M or 31%), and Brazil (up $257M or 8.42%), and product exports increase in Cars (up $119M or 33.8%), telephones (up $360M or 30.8%), and aircraft parts (up $203M or 9.37%). From Q1 2022 to Q1 2023, the increase in the Miami Customs District’s imports was primarily explained by an increase in imports from France (up $284M or 48.3%), Italy (up $104M or 16.1%), Canada (up $117M or 17.5%), Bahamas (up $109M or 217%), and Germany (up $128M or 33.5%), and products imports increase in unspecified commodities ($360M or up 36.3%), gas turbines ($212M or 70.9%), and refined petroleum (up $96.4M or 39.9%).

Sources: The Observatory of Economic Complexity, United States Census Bureau USA Trade® Online.

Miami Customs District Top Export Destinations

Q1 2023 | TOTAL $18.3B

Miami Customs District Top Import Origins

Q1 2023 | TOTAL $15.7B