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SECTION THREE • Trade Ties Los Angeles Customs District (LACD) Los Angeles County is the U.S. gateway to the Asian economies and has become a leader in international commerce and investment. Los Angeles has been referred to as the capital of the Pacific Rim due to its deep connections with Asia. The economic ties between Southern California and Taiwan are unmatched by any other region in the United States. The San Pedro port complex, which includes the Ports of Los Angeles and Long Beach, is the busiest port complex in the U.S. and in the western hemisphere, and was the fifth busiest in the world until the downturn in 2009. In recent years, the ports of Busan, Ningbo, Guangzhou, and Qingdao have surpassed the San Pedro ports in total container traffic. Based on 2013 figures, the San Pedro Bay ports are now the ninth busiest port complex in the world. Taiwan was the LACD’s fourth largest trading partner in 2013 with total two-way trade valued at $15.8 billion, up by 2.4% from 2012. Total Taiwanese imports unloaded (district of unlading – general imports) in the LACD were valued at $8.7 billion (#5). Total U.S. exports to Taiwan through the LACD were $7.1 billion (#5), for a LACD trade deficit of $1.5 billion. Taiwan’s import-to-export ratio was 1.2, down from 1.4 in 2012. From a volume or container perspective, total loaded inbound and outbound TEUs declined by 3.5% in 2013 moving from 626,334 to 604,385 TEUs. The Los Angeles Customs District handles nearly 30% of trade between Taiwan and the U.S. based on value and a majority of the trade volume. Together, the Ports of Los Angeles and Long Beach handle over 25% of trade between Taiwan and the U.S. The Los Angeles Customs District handled $415 billion worth of international trade (general imports and exports) in 2013 and Taiwan accounted for roughly four percent of that total. Approximately six percent of two-way trade volumes at the Ports of Los Angeles and Long Beach are related to trade with Taiwan. International trade has become one of the most significant economic drivers for Southern California, creating hundreds of thousands of jobs. Based on recent estimates from the LAEDC, over 163,000 workers were employed in trade related industries (includes transportation, logistics, and distribution) in Los Angeles County alone. Southern California has transformed itself into a formidable hub for logistics and transportation stemming from its trade links with Taiwan, Asia and the world. For this reason and owing to its many other long ties to Taiwan and its people, the Los Angeles County region has moved into an important strategic position with regards to U.S.-Taiwan relations. Note: The trade figures in this section include data from USA Trade Online, which consists of data at the Customs District Level and from the Port Level. In addition, the data includes two types of classifications – Harmonized System (HS) and the North American Industry Classification System (NAICS). The Los Angeles Customs District (LACD) uses one data source while the Port of Los Angeles, Port of Long Beach and LAX all rely on a separate source of data and a different classification system. This gives rise to differences in the figures depending on the source: Customs District Level (meaning the LACD) vs. the Port Level (meaning the Port of LA, Port of Long Beach and LAX). 250 200 150 100 50 0 2013 LACD Top 10 Trading Partners Billions of $ $213.7 China* $63.5 Japan Korea *Includes Hong Kong and Macao Source: USA Trade Online 200 180 160 140 130 100 80 60 40 20 0 Billions of $ $186.0 China* $27.6 $21.0 $14.5 $12.9 $11.4 $10.9 $10.1 $9.8 Taiwan Vietnam Thailand Germany India 2013 LACD Top 10 Import Sources $48.3 Japan Korea *Includes Hong Kong and Macao Source: USA Trade Online Taiwan Vietnam Thailand Germany Indonesia Australia Malaysia Indonesia $16.5 $13.9 $12.7 $9.9 $8.5 $7.7 $6.9 $6.7 India 18 LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION
SECTION THREE • Trade Ties LACD Top Imports from Taiwan The value of total unloaded (district of lading –general imports) imports from Taiwan to the LACD fell by 4.6% in 2013. Three of the top five product categories experienced declines in 2013 including machinery (down by 12.9%), computer and electronic products (down by 7.5%) and miscellaneous manufactured commodities (down by 5.9%). Meanwhile, two of the top five categories expanded last year including transportation equipment and fabricated metal products. Other noteworthy gains included plastics, and rubber products and furniture. COMMODITY 1 2 3 4 5 6 7 8 9 10 50 25 20 15 10 5 0 2013 LACD Top10 Export Destinations Billions of $ $27.7 China* $15.2 Japan $11.1 Korea *Includes Hong Kong and Macao Source: USA Trade Online $7.8 $7.1 Australia Taiwan $5.1 LACD Top 10 Imports from Taiwan 2013 % of (Million of $) Taiwan Total Electrical Equipment, TVs, and $3,407.5 24.6% Electric Parts Computer, Peripherals, Machinery, $2,763.0 19.9% Appliances, and Parts Motor Vehicles and Motor Vehicle Parts $1,196.3 8.6% Iron and Steel Products $1,081.3 7.8% Plastics and Items Made of Plastic $851.6 6.1% Furniture, Bedding, and Lamps $493.4 3.6% Toys, Games and Sports Equipment $481.3 3.5% Miscellaneous Metal Products $400.9 2.9% Medical, Surgical and Dental Instruments $396.2 2.9% Metal Tools, Cutlery, and Parts $343.6 2.5% Total Top 10 $11,415.1 82.3% Singapore $4.2 India $3.0 $2.9 $2.5 Thailand Germany Netherlands LACD Top Exports to Taiwan The value of total exports leaving the LACD for Taiwan increased by roughly 10% last year. The strongest expansion came from exports of transportation equipment (a combination of civilian and military aircraft engines and parts –surging by over 108%), exports of food (mainly soybeans and beef) gained 16%, and exports of primary metal manufacturing were up by 13%. Exports to Taiwan reached a record high in 2013 topping $7 billion for the first time as a direct result of the shipments of defense and aerospace related goods. Meanwhile, five of the top 10 product categories declined. The most significant declines occurred in waste and scrap (down by 19.4%) and machinery (except electrical –down by 14.2%). LACD Top 10 Exports to Taiwan COMMODITY 2013 % of (Million of $) Taiwan Total 1 Aircraft, Spacecraft, and Parts $1,088.2 15.3% 2 Iron and Steel $784.8 11.0% 3 Electrical Equipment, TVs, and $748.9 10.5% 4 Electric Parts Computer, Peripherals, Machinery, $530.5 7.5% 5 Appliances, and Parts Plastics and Items Made of Plastic $368.2 5.2% 6 Medical, Surgical and $292.7 4.1% 7 Dental Instruments Oils, Seeds and Grains $292.4 4.1% 8 Motor Vehicles and Motor Vehicle Parts $289.7 4.1% 9 Organic Chemicals $244.9 3.4% 10 Inorganic Chemicals and $219.5 3.1% Related Compounds Total Top 10 $4,859.7 68.2% Source: USA Trade Online 25 20 15 10 5 Billions of $ LACD 2-Way Trade with Taiwan 2003-2014 YTD through June $21.6 $22.0 $20.5 $20.2 $20.5 $21.0 $19.6 $19.8 $19.7 $18.4 $14.4 $10.1 $11.1 Source: USA Trade Online 0 2003 2004 2005 Source: USA Trade Online 2006 2007 2008 2009 2010 2011 2012 2013 2013 YTD 2014 YTD LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION 19
Page 1: Taiwan and Los Angeles County Taipe
Page 4 and 5: GROWING TOGETHER • Taiwan and Los
Page 14 and 15: INTRODUCTION • Taiwan and Los Ang
Page 16 and 17: INTRODUCTION • Taiwan and Los Ang
Page 20 and 21: SECTION TWO • The Taiwanese Econo
Page 22 and 23: SECTION TWO • The Taiwanese Econo
Page 24 and 25: SECTION THREE • Trade Ties U.S.-T
Page 28 and 29: SECTION THREE • Trade Ties The Lo
Page 30 and 31: SECTION THREE • Trade Ties Port o
Page 32 and 33: SECTION THREE • Trade Ties Port o
Page 34 and 35: SECTION THREE • Trade Ties LAX an
Page 36 and 37: SECTION THREE • Trade Ties Summar
Page 38 and 39: SECTION THREE • Trade Ties Profil
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Page 64 and 65: SECTION FIVE • Business Ties This
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SECTION FIVE • Business Ties Medi
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SECTION FIVE • Business Ties The
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SECTION FIVE • Business Ties In L
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SECTION FIVE • Business Ties Firs
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GROWING TOGETHER • Taiwan and Los
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SECTION SIX • Personal Ties Assoc
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SECTION SIX • Personal Ties Spotl
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SECTION SIX • Personal Ties Taiwa
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SECTION SIX • Personal Ties The m
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SECTION SIX • Personal Ties The C
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GROWING TOGETHER • Taiwan and Los
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SECTION SEVEN • The Future of the
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SECTION SEVEN • The Future of the
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SECTION EIGHT • Conclusions and R
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SOURCES • Taiwan and Los Angeles
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SOURCES • Taiwan and Los Angeles
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