Greater China has become the largest non-Latin trading partner of Florida. With
China's entry to the World Trade Organization (WTO), business ties between the
two markets are expected to grow even further.
From January to September 2012, U.S. trade with its international trading partners was $1.15 trillion in exports, $1.71 trillion in imports, for a total trade of $2.86 trillion. During President Obama's Administration, exports increased 40.9% and trade deficit increased by 44.91%. If we look at the total figures for January 1, 2009 to September 30, 2012, total U.S. exports were $4.97 trillion and U.S. imports were $7.38 trillion, resulting in a trade deficit of $2.42 trillion (Figures from U.S. Census Bureau Report FT900).
If we look at China, China has 6.84% of U.S. total exports and 18.24% of U.S. total imports, but at the same time produced 41.98% of the U.S.'s $2.42 trillion trade deficit.
While U.S. export figures are slowing improving, U.S. trade deficit remains very high. For China, from January 1, 2009 to September 30, 2012, total U.S. exports were $344.05 billion and total U.S. imports were $1.37 trillion, producing a trade deficit of $1.03 trillion. As the U.S. has a national debt of over $16 trillion, U.S. trade with China is a major source of this national debt.
(Figures provided by U.S. Census Bureau Report FT900, dated 11/08/12 and analysis by Florida Foreign Trade Association).
Founded in 2001, Florida-China Chamber of Commerce, Inc. is a non-political,
non-partisan organization registered with the State of Florida,
dedicated to promoting trade, commerce and investment between Florida and
Corporate and individual membership in the Chamber of Commerce is diverse and
continues to grow. Membership includes professionals in industries such as
banking, finance, real estate, law, import/export, accounting, manufacturing,
transportation, entertainment, etc. Those who choose the Florida-China Chamber
of Commerce as a business partner will be provided with an opportunity to meet
and network with others in the business community who share the same interest: