Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.
Topic: Seattle goods trade
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October 23, 2013 at 10:34 AM
You might think that Seattle has one of the highest shares of international trade as part of its economy, but no.
According to new research from the Brookings Institution, the top metros are Silicon Valley (35.9 percent); San Francisco (26.7); Wichita, Kan. (!) (25.6); Jackson, Miss. (!!) (24 percent); Houston (23.9); Washington, D.C. (23.4); Poughkeepsie, N.Y. (22.4); Honolulu (22.3); Austin (22.3), and Bridgeport-Stamford-Norwalk, Conn. (22).
The analysis attempts a deep dive at all goods moving in and out of the 100 largest metros, both domestically and internationally. And, to be sure, some of the leaders above show some distortions.
For example, Wichita’s total goods trade is $56.3 billion, ranked 63rd out of 100. But a big boost from agriculture and energy vaults its share of international goods trade.
D.C. is powered by your tax dollars and the rent-seeking of highly subsidized contractors in everything from defense and Das Homeland Security to the private-sector outfits that blundered the HealthCare.gov website.
Seattle-Tacoma-Bellevue ranks 15th, with $185.3 billion. Advanced industrial products account for $107.5 billion, including transportation equipment (i.e. airplanes), advanced machinery, electronics and chemicals/plastics. Agriculture and energy products make up the biggest portions of the other goods.