New York City Top Trading Partners
Total trade: $364.71 billion
January – December 2017
Top U.S. Trading Partners
Total U.S. trade: $3.89 trillion
New York City’s trade increases 2.18 percent through December
New York City’s trade with the world rose 2.18 percent, from $356.93 billion to $364.71 billion in 2017 when compared to the same period the previous year, according to a WorldCity analysis of latest U.S. Census Bureau data. New York City’s exports decreased 0.07 percent while imports rose 3.58 percent. New York City’s deficit was $91.55 billion.
Through December the district’s top five trade partners were No. 1 China, No. 2 Germany, No. 3 India, No. 4 United Kingdom and No. 5 France compared to the same period last year when the top five were No. 1 China, No. 2 United Kingdom, No. 3 Switzerland, No. 4 Germany and No. 5 India, respectively.
Taking a closer look at the leading trade partners with New York City:
- Trade with No. 1 China rose 0.04 percent to $49.44 billion.
Exports rose 1.46 percent to $8.73 billion. Imports fell 0.26 percent to $40.71 billion.
- Trade with No. 2 Germany rose 11.31 percent to $23.73 billion.
Exports rose 12.34 percent to $9.15 billion. Imports rose 10.67 percent to $14.58 billion.
- Trade with No. 3 India rose 11.05 percent to $23.35 billion.
Exports rose 13.32 percent to $6.88 billion. Imports rose 10.13 percent to $16.47 billion.
- Trade with No. 4 United Kingdom fell 6.77 percent to $22.24 billion.
Exports fell 9.96 percent to $13.14 billion. Imports fell 1.75 percent to $9.1 billion.
- Trade with No. 5 France fell 1.68 percent to $18.96 billion.
Exports fell 7.05 percent to $6.38 billion. Imports rose 1.29 percent to $12.58 billion.
New York City’s top five trading partners through December accounted for 37.76 percent of its trade with the world. The U.S. average for the same time period was 55.3 percent.
New York City had trade surpluses with 108 countries and deficits with 123 through December. That compares with 109 surpluses and 121 deficits for the same period one year earlier. The top three surpluses through December of this year were with Hong Kong, $8.21 billion; United Kingdom, $4.04 billion; and United Arab Emirates, $2.86 billion. The top three deficits through December of this year were with China, $31.98 billion; Italy, $11.14 billion; and India, $9.58 billion.
Top Exports from New York City
Total Exports: $136.58 billion
|1||Diamonds, not mounted||$13,796,619,465|
|2||Civilian aircraft, parts||$8,913,678,373|
|5||Paintings, drawings and other artwork||$7,255,256,632|
|6||Plasma, vaccines, blood||$2,938,649,253|
|7||Motor vehicles for transporting people||$2,571,901,622|
|8||Cell phones, related equipment||$2,481,610,579|
|9||Medicines in individual dosages||$2,268,435,602|
|10||Machinery, parts for semiconductor manufacturing||$2,057,327,824|
January – December 2017
Top Imports to New York City
Total Imports: $228.13 billion
|1||Diamonds, not mounted||$18,354,579,789|
|2||Motor vehicles for transporting people||$13,527,141,671|
|3||Exports returned, without change||$10,887,282,439|
|4||Gasoline, other fuels||$9,238,268,058|
|5||Medicines in individual dosages||$5,734,328,457|
|6||Paintings, drawings and other artwork||$5,435,115,276|
|8||Cell phones, related equipment||$4,492,660,228|
|10||Unwrought platinum in various forms||$3,968,092,358|
Meanwhile, total U.S. trade with the world increased to $3.89 trillion, up 6.77 percent compared to the same period last year. The nation’s exports climbed 6.4 percent to $1.55 trillion; imports climbed 7.02 percent to $2.34 trillion. The nation’s top five customs districts so far this year, by value, are Los Angeles; New York City; Laredo; Detroit and Chicago. The overall trade deficit was $796.17 billion, up compared to the same period of last year when the deficit was $735.46 billion.
New York City’s top five exports by value through December were Diamonds, not mounted; Civilian aircraft, parts; Gold; Jewelry, parts; and Paintings, drawings and other artwork, in that order. They accounted for 33.84 percent of total exports from New York City.
New York City’s top five imports by value through December were Diamonds, not mounted; Motor vehicles for transporting people; Exports returned, without change; Gasoline, other fuels; and Medicines in individual dosages. They accounted for 25.31 percent of all inbound shipments.
Looking more closely at New York City’s exports:
- Diamonds, not mounted rose 0.76 percent compared to last year to $13.8 billion.
- Civilian aircraft, parts fell 6.18 percent compared to last year to $8.91 billion.
- Gold fell 19.02 percent compared to last year to $8.78 billion.
- Jewelry, parts rose 4.66 percent compared to last year to $7.47 billion.
- Paintings, drawings and other artwork rose 5.46 percent compared to last year to $7.26 billion.
On the import side:
- Diamonds, not mounted fell 3.34 percent compared to last year to $18.35 billion.
- Motor vehicles for transporting people rose 14.93 percent compared to last year to $13.53 billion.
- Exports returned, without change rose 13.2 percent compared to last year to $10.89 billion.
- Gasoline, other fuels rose 4.05 percent compared to last year to $9.24 billion.
- Medicines in individual dosages rose 31.78 percent compared to last year to $5.73 billion.
Last year the New York City customs district posted total trade with the world of $356.93 billion. The district’s deficit was $83.58 billion. At the end of the year, the custom’s districts top five trading partners were China, United Kingdom, Switzerland, Germany and India. Exports totaled $136.67 billion and imports came to $220.26 billion.