BUSINESS SECTION

International Trade and Port Activities Strengthen in 2004

San Diego, CA - September 10, 2005 -The Economic Research Bureau of the San Diego Regional Chamber of Commerce released their 2005 Port & International Trade issue of the San Diego Economic Bulletin. The Port of San Diego continues to generate over $4 billion for the region's economy each year, while employing over 20,000 people. The value of international trade passing through the San Diego Customs District posted a dramatic 10.9 percent rise in 2004, up $3.9 billion from 2003 levels. However San Diego remains a net importer of goods.

The total value of goods exported and imported through the San Diego Customs District grew by 10.9 percent in 2004 almost reaching $40 billion. The value of goods exported through the San Diego Customs District reached $14.0 billion in 2004, a rise of 10.4 percent over 2003 levels. Mexico remained the largest recipient of goods from San Diego purchasing $13.9 billion. Imports through the San Diego Customs District posted a rapid 11.2 percent rise in value, reaching $25.5 billion in 2004. Mexico also remained the largest supplier of imports accounting for $19.4 billion (76.0 percent).
Commerce activities at the Port of San Diego represent the economic ideal of industrial diversification. The 2,498 acres of land and 2,993 acres of water controlled by the Port of San Diego house marinas, boat yards, hotels, heavy manufacturing, cruise ships, and waterfront shopping & dining. The commerce activities of the trade and commercial sectors employ 11,279 people while paying $230 million in wages annually. The industry and trade sectors at the Port employ almost 9,500 people while paying $490 million in wages annually. Because these industries are base economic industries, they export goods and services bringing in money to the region, they support an additional 31,600 jobs locally.
To review the complete report, please visit: 2004 Port & International Trade.(Acrobat Reader required)

Information provided by San Diego Regional Chamber of Commerce Newsletter.

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