Global trade for D/FW jumps to record $43.9 billion
Total global trade in the Metroplex increased by over $9 billion –a jump of 14 percent-- from 2003 to 2004, for a total of over $43.9 billion.
North Texas produced $16.3 billion in 2004 exports, accounting for 13.9 percent of Texas’ total exports of $117.2 billion. Texas is the U.S. largest exporting state for the third year in a row with $18.3 billion, up18.6 percent from 2003 to 2004.
Growth in trade may be due in part to the increase in oil prices, but the weakened dollar also had made international markets an attractive option for lowering labor costs, spurring global growth.
Trade highlights from 2004 in the D/FW area include:
- The Metroplex is home to over 2,250 global companies, including 19 Fortune 500 headquarters and 9 Global 500 headquarters
- 425 foreign-owned businesses and multinational corporations in the region are responsible for over 250,000 jobs
- China: Trade with China increased 55.6 percent from 2003 to 2004. Over the past decade (1994 to 2004) total trade increased by over $9 billion (from 1994’s $965 million to 2004’s $10 billion)
- European Union: Total trade with the European Union was $6.7 billion in 2004-- a 7.6 percent growth from 2003 to 2004. The strongest partners within the EU for the D/FW region are Germany, the United Kingdom and France. But the biggest percentage growth has been with emerging countries such as Estonia, Malta and Slovakia.
- NAFTA Region: Trade of NAFTA countries with D/FW in 2004 was $1.064 billion. With the peso devaluation and reduced logistical costs, Mexico may gain manufacturing jobs within the next year. The Chamber is closely monitoring the upcoming 2006 presidential elections in Mexico.
For more information on D/FW region’s trading statistics, contact Kristine Schwope at kschwope@dallaschamber.org or 214-712-1901.
TOP 10 TRADING PARTNERS FOR D-FW IN 2004
|
|
COUNTRY |
TOTAL TRADE |
|
1 |
China |
$10,029,666,265 |
|
2 |
South Korea |
$7,408,481,520 |
|
3 |
Singapore |
$3,434,269,117 |
|
4 |
Taiwan |
$3,118,433,882 |
|
5 |
Japan |
$3,060,061,787 |
|
6 |
Malaysia |
$1,643,712,984 |
|
7 |
Philippines |
$1,636,559,844 |
|
8 |
Germany |
$1,505,817,205 |
|
9 |
United Kingdom |
$1,226,189,903 |
|
10 |
Israel |
$1,049,401,213 |
|
|
Overall total |
$43,912,098,768 |
TOP COMMODITIES FOR D-FW IN 2004
|
|
COMMODITY |
AMOUNT |
|
1 |
Electric Machinery; Sound Equip; TV |
$21,177,301,475 |
|
2 |
Nuclear Reactors, Boilers, Machinery |
$10,076,987,157 |
|
3 |
Aircraft, Spacecraft, and Parts |
$2,581,341,835 |
|
4 |
Optic, Photo Etc, Medic or Surgical |
$1,749,909,557 |
|
5 |
Special Classification Provisions |
$939,792,513 |
|
6 |
Vehicles, Except Railway or Tramway |
$891,872,675 |
|
7 |
Furniture; Bedding Etc; Lamps |
$701,335,297 |
|
8 |
Mineral Fuel, Oil Etc.; Bitumin Subst; |
$504,721,647 |
|
9 |
Toys, Games & Sport Equipment |
$460,112,179 |
|
10 |
Clocks and Watches and Parts |
$445,630,085 |
*Note: This chart includes only the Top 20 World Markets
which represents 85% of our International Trade.
*Note: This chart includes only the Top 20 World Markets
which represents 85% of our International Trade.
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