Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.
July 31, 2013 at 10:52 AM
Seattle flies ahead in metro exports
The Seattle-Tacoma-Bellevue metropolitan area ranked fifth among the top 50 metro merchandise trade exporters in 2012. Higher than Dallas-Fort Worth. Higher than the Bay Area. Considering that we are the 15th most populous metro, this is punching above our weight big time. The newly updated rankings come from the U.S. International Trade Administration. No. 1 is Houston, with its massive oil and chemical shipments, followed by New York, Los Angeles and Detroit.
Yes, Detroit. Or rather the Detroit-Warren-Livonia metro area, which is very different from the situation facing the municipal finances of the city itself. Merchandise exports totaled $55.4 billion last year. Mexico is the No. 1 destination (I presume parts for auto assemblies), while Canada, just across the river, is No. 2.
Metro Seattle’s merchandise exports reached $50.3 billion, up more than 22 percent from 2011. Much credit goes to Boeing — and the other companies in the region’s aerospace industry — with transportation equipment accounting for nearly 72 percent of the total. China, Japan, Canada and South Korea were the top destinations. The Seattle area also made up more than 78 percent of the state’s exports.
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Today’s Econ Haiku:
So that’s all there is?
Revise GDP big time
And still small-time growth