Dallas Trades Big With Rest of the Nation
The Brookings Institution’s metropolitan policy initiative released their first-ever analysis of trade between US metropolitan areas. Trade analysis generally focuses on international trade, but this research highlights the interdependence of cities. The U.S. global trade amounts to $3 trillion a year, but inter-metro trade between US cities reaches $17 trillion each year.
The Dallas-Fort Worth area has the fifth highest total trade value of U.S. metro areas, at $420.5 billion in 2010. Trade is almost balanced, with only a $1.8 billion deficit (0.42%). The food and agricultural trade leads in imports with a $10.5 billion trade deficit and the textiles trade deficit totaled $6.06 billion. Although the energy sector is big business in DFW, we (and the rest if the U.S.) still import much of our fuel internationally in the form of oil, as reflected in the $1.95 billion international deficit in energy trade. more than 81 million tons of energy goods moved in and out of Dallas, much in the form of coal on rails and a large share of oil in pipelines.
Sales of chemicals and plastics created a $6.0 billion surplus, and sales of machinery and tools also created a $6.9 billion surplus. Electronic sales create a $2.7 billion surplus , and furniture creates a $2.1 billion surplus. The largest surplus is in the sales of the ambiguous mixed freight.
This comprehensive analysis of trade can equip a region to decide what to do about roads, bridges, railroads, runways and other infrastructure, as well as policy.
Research included data on freight movements by plane, ship, rail and truck.
Source: Dallas Morning News, Oct 21, 2013.
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