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Overview This page contains the latest international trade data for Miami, FL. In December 2023 Miami, FL was the number 8 in total exports and the number 16 in total imports in United States.

Exports In 2023, United States' Miami, Fl exported $74.2B, making it the 8th largest exporter out of the 43 exporters in United States. In 2023 the top exports of Miami, Fl were Other Aircraft parts ($9.49B), Smartphones ($2.34B), Communication apparatus (excluding telephone sets or... ($2.2B), Medicaments nes, in dosage ($2.15B), and Electronic integrated circuits: processors and controllers,... ($1.52B).

Imports In 2023, United States' Miami, Fl imported $62.4B, making it the 16th largest importer out of the 43 importers in United States. In 2023 top imports of Miami, Fl were Commodities not specified according to kind ($6.17B), Smartphones ($3.28B), Gold in unwrought forms non-monetary ($3.08B), Electronic integrated circuits: processors and controllers,... ($1.86B), and Fish fillets: fresh or chilled, salmon,... ($1.64B).

Economic Complexity In 2023, the highest complexity exports of Miami, Fl according to the product complexity index (PCI) are Photographic Film (2.06), Photographic Plates (1.4), Gaskets (1.38), Industrial Printers (1.31), Other Nickel Products (1.31), Telephones (1.24), Fairground Amusements (0.87), Aluminium Gas Containers (0.85), Prints (0.81), and Flat panel displays (0.79). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Historical Data

Yearly Exports

Color
Depth
Top Destination (2023)Brazil$13.4B
Top Product (2023)Other Aircraft parts $9.49B

In 2023 the top export destinations of Miami, Fl were Brazil ($13.4B), Colombia ($4.83B), Chile ($4.51B), Dominican Republic ($3.91B), and Argentina ($3.71B).

In 2023 the top exports of Miami, Fl were Other Aircraft parts ($9.49B), Smartphones ($2.34B), Communication apparatus (excluding telephone sets or... ($2.2B), Medicaments nes, in dosage ($2.15B), and Electronic integrated circuits: processors and controllers,... ($1.52B).

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Exports Dynamics

Fastest Growing Exports Destination (Dec 2022 - Dec 2023)
Sint Maarten $94M (305%)
United Kingdom $72.2M (28.9%)
Japan $68.4M (208%)
Rapidly Declining Export Origins (Dec 2022 - Dec 2023)
China -$44.3M (-38.4%)
Barbados -$40.4M (-59.6%)
Venezuela -$37.2M (-28.5%)

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Yearly Imports

Color
Depth
Top Origin (2023)China$7.06B

In 2023 the top import origins of Miami, Fl were China ($7.06B), Colombia ($4.64B), Dominican Republic ($4.1B), Brazil ($3.94B), and France ($2.92B).

In 2023 the top imports of Miami, Fl were Commodities not specified according to kind ($6.17B), Smartphones ($3.28B), Gold in unwrought forms non-monetary ($3.08B), Electronic integrated circuits: processors and controllers,... ($1.86B), and Fish fillets: fresh or chilled, salmon,... ($1.64B).

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Imports Dynamics

Fastest Growing Import Origins (Dec 2022 - Dec 2023)
Bahamas $81.4M (113%)
China $68M (13%)
France $65.3M (32.2%)
Rapidly Declining Import Origins (Dec 2022 - Dec 2023)
Australia -$60.3M (-77.1%)
Nicaragua -$57.6M (-30.3%)
Italy -$57.6M (-19.4%)

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Economic Complexity

Economic Complexity of Miami, Fl

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Economic Complexity (2023)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.

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Export Opportunities by Relatedness

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 (0.38), Nickel Bars (0.37), Precious Metal Compounds (0.37), Additive manufacturing machines (0.37), and Nickel Sheets (0.36).

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Most Complex Products by PCI

The highest complexity exports of Miami, Fl according to the product complexity index (PCI) are Photographic Film (2.06), Photographic Plates (1.4), Gaskets (1.38), Industrial Printers (1.31), Other Nickel Products (1.31), Telephones (1.24), Fairground Amusements (0.87), Aluminium Gas Containers (0.85), Prints (0.81), and Flat panel displays (0.79). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

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Most Specialized Products by RCA Index

The most specialized products according to the RCA index are led by Aircraft Parts (41.17), Recreational Boats (16.00), Telephones (14.13), Non-Retail Pure Cotton Yarn (13.25), and Prints (11.71).

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Product Space

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.

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Relatedness Space

This network shows the products most related to the production structure of  Miami, Fl. These are products that tend to be co-exported with the products that Miami, Fl exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

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Diversification Frontier

Depth
Filter

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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