Year over year, the overall value of Floridian exported products rose 21.1% compared to $55.7 billion during 2021.
Florida is strategically located, occupying a peninsula in the southeastern-most region of the continental United States separating the Gulf of Mexico and the Atlantic Ocean.
Florida is among America’s top 10 biggest exporters by state but still behind front-runners Texas, California, New York and Washington state. The value of Florida’s exports equals 3.3% of the overall value for the United States’ overall exported products for 2022. That percentage reflects an improvement from 3.2% in the prior year.
Florida’s exported products represent 6.8% of the state’s total economic output or Gross Domestic Product in 2022 ($1 trillion).
The most valuable products shipped from Florida are civilian aircraft including engines or other parts, miscellaneous medicines in measured dosage, and smartphones. Combined, those commodities generate nearly one-fifth (18.8%) of Florida’s export sales during 2022..
Given Florida’s population of 22 million people, its total $67.5 billion in 2022 exports translates to roughly $3,100 for every resident in the Sunshine State. That dollar metric easily exceeds the average $2,600 per capita one year earlier in 2021.
Florida’s unemployment rate was 2.5% in December 2022, down from 3.5% at December 2021.
Florida’s Top 10 Exports
The following export products represent the highest dollar value in Florida global shipments during 2022. Also shown is the percentage share each export category represents in terms of overall exports from Florida.
Figures are shown at the more granular six-digit Harmonized Tariff System code level, for more precise product identification.
- Civilian aircraft including engines, parts: US$8.3 billion (12.2% of Florida’s total exports)
- Miscellaneous medicines in measured dosage: $2.5 billion (3.7%)
- Smartphones: $2 billion (2.9%)
- Integrated circuits (processors/controllers): $1.5 billion (2.2%)
- Small portable computers: $1.4 billion (2%)
- Mineral or chemical fertilizers: $1.2 billion (1.8%)
- Modems, similar reception/transmission devices: $1.1 billion (1.7%)
- Polyamide chemicals: $911.6 million (1.4%)
- Repaired or altered previously imported goods: $776.2 million (1.1%)
- Miscellaneous wireless phones: $770.3 million (1.1%)
Florida’s top 10 exports approached one-third (30.2%) of the overall value of the state’s global shipments.
Year over year, the fastest gainers among Florida’s top 10 export categories were miscellaneous medicines in measured dosage and packaged for retail sale (up 686.9% from 2021), mineral or chemical fertilizers (up 39.1%) and civilian aircraft including engines or other parts (up 12.5%).
There were two decliners compared to 2021, specifically small portable computers (down -10.3%) and repaired or altered previously imported goods (down -1.8%).
More Key Facts about Florida
Overall, Florida incurred a -$44.5 billion deficit exporting and importing products during 2022. That dollar amount reflects an 18% year-over-year increase from -$37.7 billion in red ink in 2021.
Another way of saying surplus or deficit is positive or negative net exports. In a nutshell, the term “net exports” quantifies the amount by which foreign spending on a state’s goods or services exceeds or lags that same state’s spending on foreign goods or services.
Below are Florida’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2021.
- Nucleic acids, salts: US$5.3 billion (4.7% of Florida’s total imports)
- Mid-sized automobiles (piston engine): $4.5 billion (4%)
- Smartphones: $3.1 billion (2.8%)
- Large automobiles (piston engine): $2 billion (1.8%)
- Pacific salmon: $1.83 billion (1.6%)
- Integrated circuits (processors/controllers): $1.78 billion (1.6%)
- Gold (unwrought): $1.6 billion (1.4%)
- Alcoholic beverages including liqueurs, cordials: $1.34 billion (1.2%)
- Light petroleum oils excluding biodiesel: $1.3 billion (1.2%)
- Cigars, cigarillos: $1.26 billion (1.1%)
Historically, Florida has incurred high negative net exports in the international trade of nucleic acids or salts and automobiles. In turn, these cashflows indicate Florida’s competitive disadvantages under the automobiles-related product category showing the strong impact of foreign-made automotive goods on Florida’s global balance sheet}
Florida’s Top Trading Partners
The following list shows the top 10 customers that purchased 46.5% worth of the total value of products exported from Florida during 2022.
- Brazil: $5.6 billion (8.2% of Florida’s total exports)
- Canada: $5.3 billion (7.8%)
- Mexico: $4 billion (6%)
- United Kingdom: $3.9 billion (5.7%)
- Colombia: $2.7 billion (4%)
- Dominican Republic: $2.5 billion (3.7%)
- Chile: $2.1 billion (3.1%)
- Argentina: $1.946 billion (2.9%)
- Germany: $1.8 billion (2.7%)
- Peru: $1.6 billion (2.4%)
Florida’s top trade partners in South America (Brazil, Colombia, Chile, Argentina, Peru) accounted for 20.6% of the overall value of exported goods from the Sunshine State. This compares with 13.8% of Floridian shipments consumed by North American trade partners (Mexico, Canada) and 8.4% for top European trade partners (UK, Germany).
Florida Export Companies
Thirty-five of Florida-based corporations rank among Fortune 1000 Companies, a list that showcases America’s largest businesses. Selected examples are shown below.
- B/E Aerospace (aircraft-related products)
- Citrix Systems (software, cloud computing technologies)
- Dycom Industries (telecommunications)
- Harris Corp (communication, electronic, space, intelligence systems)
- MasTec (pipelines, wireless communications, infrastructure)
- Platform Specialty Products Corp (chemicals)
- Roper Technologies (systems, controls, instruments)
- Ryder (transportation/supply chain management goods)
- Tupperware Brands Corp (household goods, cosmetics, personal care)
- Watsco (air conditioning, heating, refrigeration-related goods)
Shown within brackets for each company is a summary of the international trade-related products or services which each business sells.
Florida’s capital is Tallahassee, a city nicknamed “Tally”.
See also America’s Top 20 Export States, United States Top 10 Exports and Top United States Trade Balances
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