Trade & Commercial Office www.uaetrade-usa.org Historical Trade Relationships Between the United Arab Emirates and the United States Florida State Report 2013 1. 2. 3. 4. 5. 6. 7. 8. Merchandise Exports and State Ranking Top‐Four Export Sectors to the UAE Port Activity UAE Investments into Florida Service Companies Exporting to the UAE Positive Effects of Trade on Employment Congressional Districts Most Affected by Exports Supporting Data Tables Florida, State‐Wide Summary Merchandise Exports Exports to the UAE by State ($ millions) State 1999 2011 2012 2013 20112013 % Of US Total US Total 2,713 15,893.8 22,569.9 24,607.2 63,053.0 100.0% 1 Washington 709.7 2,753.1 5,059.1 4,031.6 11,844.0 18.78% 2 Texas 343.7 2,056.1 2,190.6 2,684.9 6,938.8 11.00% 3 New York 165.2 1,513.3 1,635.6 2,015.1 5,163.9 8.19% Rank 4 Florida 45.6 1,176.7 1,685.6 2,212.8 5,075.2 8.05% 5 California 189.1 1,434.6 1,810.5 1,637.3 4,882.4 7.74% Among US states, Florida is the 4th largest merchandise exporter to the UAE, growing from less than $46 million in 1999 to $2.2 billion in 2013. Between 2011 and 2013 exports from Florida to the UAE almost doubled. Florida Exports by Country Rank Country 2011-13 ($ millions) Real GDP (PPP) Rank Major Export Items 1 2 8 World Switzerland Brazil Argentina 191,591 18,926 15,524 5,136,378 n/a 35 6 21 Aerospace, Phone Equip., Precious Metal Scrap Gold, Jewelry, Aerospace, Computer Parts Aerospace, Fertilizers, Computer Equipment Fertilizers, Aerospace, Computer Parts 9 UAE 5,075,210 49 Cars, Aircraft Parts, Gold, Computers 10 Dominican Rep 4,757.814 71 Cars, Charitable Goods, Telephone parts UAE ranked 9th among Florida’s export markets, although the UAE’s economy is only the 49th largest in the world. Exports to the UAE 2011-2013 ($1,000) Share of Total FL Exports to the UAE Cars 338,556 8.4% UAE Share of FL Exports to All World Markets 7.4% Aircraft Parts 167,659 4.1% 1.1% Sector Trucks 88,738 2.2% 20.8% Gold Unwrought 2,468,931 61.1% 12.3% Computers 647,127 16.0% 7.8% Cars and Trucks – Cars and trucks accounted for $338 million of Florida’s exports to the UAE between 2011 and 2013. However, there is no manufacturing in the state. Companies exporting to the UAE include dealerships such as AutoNation (Fort Lauderdale). Exports also may reflect sales of used vehicles or exports from neighboring manufacturing states. Computers – Exports of computers grew rapidly with $647 million worth exported to the UAE in 2011‐13. Compuwiz of South Florida is an exporter of these products. 1 Florida’s exports to the UAE are important to key sectors, companies, and regions of the State. Aircraft Parts – The UAE accounted for $167 million or 1.1% of Florida’s exports of aircraft parts to all export markets from 2011 to 2013. Companies exporting to the UAE include B/E Aerospace located in Wellington and with an office in Dubai. HEICO is another supplier located in Hollywood. Gold – In 2012, gold exports to the UAE have showed a huge growth by reaching $791 million and $1.3 billion in 2013. Between 2011 and 2013, gold exports to the UAE accounted for $2.4 billion more than 12.3% out of Florida’s total exports of gold. Florida is likely a conduit of gold from Latin America seeking safer havens. Florida, State ‐ Wide Summary Port Activity Bilateral trade with the UAE supports port activity in Florida. Miami is the 4th largest U.S. port for trade with the UAE, with total trade (imports and exports) growing from $26 million in 1999 to $1.8 billion in 2013. Total Trade (Exports + Imports) with UAE ($ millions) Rank Port 1999 2013 2011-2013 % Of 11-13 Bilateral Trade with UAE 1 New York 626 60,81 16,177 23.1% 2 Seattle 724 4,063 12,085 17.3% 3 Houston 350 2,637 6,941 9.9% 4 Miami, FL 26 1,825 3,968 5.7% 7 Tampa, FL 83 1,434 3,258 4.7% Tampa is the 7th largest U.S. port for trade with the UAE, with total trade growing from $83 million in 1999 to $1.4 billion in 2013. UAE Investments in Florida Capital inflows from the UAE have supported Florida companies. The following table summarizes some of the key investments since 2006. Year Investor 2007 Tatweer 2007 Gulf Agency Company (GAC) 2007 Dubai Holding 2009 Palm Aviation 2012 Hots Brands International Company/Sector/ Location Description Estimated Investment1 Universal City Dubailand $2 billion New office in Tampa, FL n/a Opening of new wax museum n/a Business Services/ Miami FL New office in Miami, Florida. n/a HBI/ F&B/ Lakewood Ranch, Florida New Office in Lakewood Ranch, Florida $1.7 million Universal Studios/ Theme Park/ Orlando, FL GAC subsidiary/ Transport/logistics/ Tampa, FL Tussauds/ Entertainment/ Hollywood, FL 1/ Estimates are based on public sources and may include total investment in companies headquartered in Florida. Services Services are a growing component of US and world trade. Florida companies selling services to the UAE include the following (non‐exhaustive list). Firm ANC Rental Burger King Gateway Insurance Broker (L.L.C) Kobi Karp Architecture & Interior Design Neoris Harris HEICO Location Fort Lauderdale Miami Fort Lauderdale Miami Miami Melbourne HEICO Corporation 2 Type of Service Business Services Leisure & Entertainment Insurance Architecture Software & IT services Communication Aerospace Florida, State‐Wide Summary Employment Exports of goods and services, port activity supporting bilateral trade, and inward capital investment from the UAE all benefit Florida employment. The positive employment effects attributable to state exports of manufactured goods to the UAE are the easiest to calculate and the table below summarizes estimated job gains over the 2006 through 2013 period. Direct employment refers to manufacturing jobs at exporters. Indirect employment quantifies the estimated job gains in ancillary sectors such as transportation and input suppliers. Induced employment reflects jobs that are generated by the additional spending of earnings resulting from exports. Most of this spending occurs in sectors, such as restaurants and retail, that are unrelated to the exporting sector. Estimated employment in Top‐10 Mfg. Sectors attributable to exports to the UAE* Direct /Indirect Employment Induced Employment Total Employment Total Employment related to UAE exports, All Sectors* 2006 3,119 1,827 1,064 2,891 2007 2,282 1,448 3,730 4,158 2008 3,307 2,053 5,360 5,996 2009 2,729 1,767 4,496 5,060 2010 3,126 2,018 5,144 5,778 2011 6,611 4,276 10,886 12,289 2012 9,640 6,181 15,821 16,670 2013 12,140 7,684 19,824 20,736 Employment Growth 10,313 6,620 16,933 17,617 * Adjusted based on the share of total state exports to the UAE accounted for by the top‐10 manufacturing sector exports. Note: Due to the large increase in 2011‐13 exports to the UAE of gold, which is not manufactured in the state, the employment numbers estimated for 2011‐13 may be overstated. Sources: Estimated by Capital Trade using USATRADE Online and Bureau of Economic Analysis. Partnerships The Florida Institute of Technology and the government of Dubai will conduct research and training to enhance treatment for those affected by autism. 3 Florida – Congressional Districts Associated with Top Exports to the UAE Although there is no major automotive production in the state, Florida is a major shipping point for vehicle exports. The UAE is a sizable market for new and used vehicles and cars and trucks accounted for more than 10.6% of Florida’s exports to the UAE during the 2011 to 2013 period. Starting from 2011 Gold exports have showed a tremendous growth reaching $1.3 billion in 2013, Gold exports account for 61.1% out of Florida’s exports to the UAE. AutoNation, the country’s largest dealership network, is based in Fort Lauderdale. There are numerous other companies, generally concentrated in South Florida, involved in automotive exports to the UAE identified in PIERS. Main Florida Exports ($ thousands) Year Autos Trucks 1999 1,163 1,412 2000 2,901 11,143 2001 4,203 5,090 2002 5,653 1,380 2003 16,543 66 2004 120,002 0 2005 64,521 0 2006 65,718 1,997 2007 76,427 10,097 2008 139,462 46,041 2009 74,869 5,641 2010 82,687 19,124 2011 115,284 28,311 2012 137,741 32,568 2013 85,531 27,859 The table below shows that the UAE is a critical market for many of the top products exported from Florida especially computers & gold as both showed a huge increase in 2012. Product Cars Aircraft parts Trucks Perfume Horses Gold Computers Exports to UAE as % of Total State Exports 8.4% 4.1% 2.2% 1.9% 0.3% 61.1% 16.0% 4 Florida’s exports to the UAE are distributed among many products and companies. However, exporting activity is concentrated in the congressional districts covering the Miami to West Palm Beach section of the southeast coast. Other key Florida products exported to the UAE, such as horses and boats, which are produced more broadly across the state, also transit through the major ports in southeast Florida. Thus, districts 16, 17 and 19‐22 all benefit from exports to the UAE. Miami/Hollywood/West Palm Beach (Districts 16, 17, 19‐22) Florida ‐‐ Key Manufacturers, Products, Locations, and Congressional Districts Company AutoNation Florida Gold Exchange HEICO B/E Aerospace Sikorsky Compuwiz of South Florida Elizabeth Arden RS Trading Product Cars Gold Aircraft parts & engines Portable Computers Perfume/Toilet Water 5 Location Fort Lauderdale Fort Lauderdale Hollywood Wellington West Palm Beach Miami Miami Pembroke Park Districts 20 22 20 16 16, 20, 22 21 21 17 Trends for Major Exported Products from Florida to the UAE 2003 Description HS Passenger Vehicles 8703.21 to 8703.24 Aircraft parts 8803 Ac Generator>750Kva 8501.64 Trucks, less than 5 M Ton 8704.31 Cellular & other phones, eqpt 8517.12/62/70 Perfume/Toilet Watr 3303 Turbojet Engines & Parts 8411 Video/television cameras 8525 Horses 0101.10/90 Yachts & other pleasure boats 8903 Computers 8471 Gold Unwrought 7108 Total Exports to UAE Total Exports to UAE as Percent of All Exports 2004 2005 16,543 5,580 0 66 0 1,488 13,497 2,267 3,592 1,140 4,365 0 135,975 0.5% 120,002 13,172 0 0 0 2,294 20,928 5,816 845 712 3,627 0 255,480 0.9% 64,521 32,169 3 0 0 3,518 46,471 3,047 18,744 5,313 3,319 0 259,896 0.8% Total Exports to All Other Markets 24,769,154 28,787,274 33,183,994 Total Exports to All Markets 24,905,128 29,042,755 33,443,891 2011 Description HS Passenger Vehicles 8703.21 to 8703.24 Aircraft parts 8803, 8800 Ac Generator>750Kva 8501.64 Trucks, less than 5 M Ton 8704.31 Cellular & other phones, eqpt 8517.12/62/70 Perfume/Toilet Watr 3303 Turbojet Engines & Parts 8411 Video/television cameras 8525 Horses 0101.10/90 Yachts & other pleasure boats 8903 Computers 8471 Gold Unwrought 7108 Total Exports to UAE Total Exports to UAE as Percent of All Exports Total Exports to All Other Markets Total Exports to All Markets 115,284 60,578 225 28,311 72,187 21,859 3,803 7,163 8,830 8,757 174,354 347,404 1,176,740 1.8% 63,579,390 64,756,130 Source: Global Trade Information Services and US Census Bureau 2012 2013 $1,000 137,741 85,531 30,857 76,224 21 0 32,568 27,859 101,874 135,787 22,625 31,691 635 4,972 5,406 2,776 5,145 0 19,479 10,248 221,969 250,804 791,526 1,330,000 1,685,628 2,212,842 2.5% 3.7% 64,712,380 58,248,205 66,398,009 60,461,047 2006 $1,000 65,718 30,566 11,060 1,997 0 12,021 17,130 11,505 20,225 5,789 2,311 0 272,799 0.7% 2007 2008 2009 2010 76,427 43,719 19,742 10,097 18,423 13,110 7,699 12,165 7,485 4,970 3,910 0 372,899 0.8% 139,462 32,027 31,036 46,041 33,759 15,338 1,837 14,901 8,575 20,658 6,525 0 552,582 1.0% 74,869 39,447 3 5,641 44,162 9,015 10,091 4,575 13,204 20,407 15,075 1,400 432,936 0.9% 82,687 40,615 0 19,124 62,939 16,585 7,843 5,105 12,875 16,072 30,209 0 501,995 0.9% 38,284,747 44,485,151 53,685,658 46,455,071 54,862,766 38,557,546 44,858,050 54,238,240 46,888,007 55,364,761 2011‐2013 338,556 167,659 246 88,738 309,848 76,175 9,410 15,345 13,975 38,484 647,127 2,468,931 5,075,210 2.6% 186,539,975 191,615,186 Growth Avg. Growth Rate Avg. Annual in $1,000 2003‐'09 2009‐'13 2003‐'09 2009‐'13 9,721 2,665 28.6% 3.4% 38.5% 17.9% 5,644 9,194 1 ‐1 n/a ‐100.0% 929 5,555 109.7% 49.1% 7,360 22,906 n/a 32.4% 1,255 5,669 35.0% 36.9% ‐568 ‐1,280 ‐4.7% ‐16.2% 385 ‐450 12.4% ‐11.7% 1,602 ‐3,301 24.2% ‐100.0% 3,211 ‐2,540 61.7% ‐15.8% 1,785 58,932 22.9% 102.0% 233 332,150 n/a 455.2% 49,494 444,977 21.3% 50.4% 0 9.2% n/a n/a 3,614,320 2,948,284 11.1% n/a 3,663,813 3,393,260 11.1% 6.6% Major Exports to the UAE from Florida 2011‐2013 2011‐13 Exports ($1000) Product Description Item HS Tariff Number All Commodities Passenger Vehicles Aircraft parts Ac Generator>750Kva Trucks, less than 5 M Ton Cellular & other phones, eqpt Perfume/Toilet Watr all 8703.21 to 8703.24 8803, 8800 8501.64 8704.31 8517.12/62/70 3303 2011 1,176,740 115,284 60,578 225 28,311 72,187 21,859 2012 1,685,628 137,741 30,857 21 32,568 101,874 22,625 2013 2,212,842 85,531 76,224 0 27,859 135,787 31,691 % State's Total Exports to UAE (2011‐'13) 100.0% 6.7% 3.3% 0.0% 1.7% 6.1% 1.5% % of State's Exports to All Markets (2011‐'13) 2.6% 7.4% 1.1% 0.3% 20.8% 2.7% 4.9% Turbojet Engines & Parts 8411 3,803 635 4,972 0.2% 0.5% Video/television cameras Horses Yachts & other pleasure boats 8525 0101.10/90 8903 7,163 8,830 8,757 5,406 5,145 19,479 2,776 0 10,248 0.3% 0.3% 0.8% 0.6% 39.8% 2.0% Computers 8471 174,354 221,969 250,804 12.8% 7.8% Gold Unwrought 7108 347,404 791,526 1,330,000 48.6% 12.3% District Certainty 20, major ports High 20 16 Low High Congressional Districts of Major Products and Likely Manufacturers Company Name Location no mfg plants in FL, AutoNation, numerous Fort Lauderdale Passenger Vehicles other exporters of new & used cars HEICO Hollywood Aircraft parts B/E Aerospace Wellington Selected Products Ac Generator>750Kva Siemens Energy Orlando 24 Low Trucks, less than 5 M Ton AutoNation & other car/truck exporters Fort Lauderdale 20, major ports High Harris Melbourne 15 Low Nokia Siemens Boca Raton 19 Low Southwest Telephone Naples 25 Low Elizabeth Arden Miami HQ in Illinois, exports from FL Pembroke Park West Palm Beach Jupiter Melbourne Fort Lauderdale statewide Clearwater 21 Medium n/a High 17 16/20/22 23 15 22 statewide 10 High Medium Low Low Low High Low Cellular & other phones, eqpt Perfume/Toilet Water Turbojet Engines & Parts Video/television cameras Horses Yachts & other pleasure boats Walgreen RS Trading Sikorsky Florida Turbine Technologies EMX, Inc. Mace Security 900+ farms MarineMax Sources: Global Trade Information Services and US Census Bureau for trade statistics. PIERS, UAE Customs, company research, and web research for identification of likely exporting companies. `
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