Exports from Florida helped contribute to the $2.33 trillion of U.S. goods and services exports in 2017. [1]
That statistic alone demonstrates the significance of Florida as a gateway to global trade in general, and international business with Latin America in particular.
The following is a brief on Florida’s economy, its principal Latin American trading partners, and the increasing need for both Spanish and Portuguese to English translations.
Florida Trade Facts Capsule
The Sunshine State is the 16th largest economy in the world with the US fourth-largest population. [2]
Florida is home to nearly 60,000 exporting companies, 20% of US businesses. [3]
The peninsula of Florida boasts ports from Pensacola to Tampa round to Miami, Port Canaveral near Melbourne to Jacksonville on the First Coast.
Indeed, Florida seaports handle 40% of all U.S. containerized cargo exports to the Latin America region. [4]
Moreover, important air links from the Orlando International Airport enrich the deep cultural and economic ties between the state and Brazil, Mexico, Colombia, and Chile.
That is probably why Florida ranks #1 in exports by air to Latin America and the Caribbean.
Even cities like West Palm Beach, Gainesville and Lakeland bet on improving commercial ties for local companies to “go global” with a distinct destination: Latin America.
The state’s strategic geographic position, state-of-the-art infrastructure, multilingual workforce, and concentration of corporate and financial resources make Florida an economic powerhouse for companies to trade with Latin America.
Florida and Principal Latin America Trade Partners
Nearly one-third of all U.S. exports to Latin America & the Caribbean in 2016 were shipped from or through Florida. [5]
The state’s significant trading partners in Latin America are Brazil, Colombia, Mexico, and Chile.
Brazil
While Miami is considered the capital of Latin America, Sao Paulo, Brazil, is its business hub.
The largest city of the largest economy of Latin America speaks with a Paulista Portuguese accent.
Florida hosts 63 Brazilian companies. [6]
A colony of Brazilians call Florida home from Orlando to Miami.
Brazil is currently the 14th largest goods US trading partner with $56.5 billion in total (two way) goods trade during 2016. [7]
Also, U.S. foreign direct investment (FDI) in Brazil (stock) was $65.3 billion in 2015 (latest data available). [8]
In particular, Florida’s trade with Brazil continues to grow year on year, just 9.4% in the period of 2016-2017 alone. [9]
Florida companies trading – or considering to trade – with Brazil probably from time to time need Portuguese to English translations.
Partner with Professor Winn today to get your business, legal, or personal documents translated from Portuguese into English.
Enjoy the confidence of retaining your favorite translator to help your company prosper in the vast Brazilian market!
Colombia
A significant turning point in trade relations between Florida and Colombia was when the Free Trade Agreement (FTA) (Tratado de Libre Comercio en español) entered in to effect in May 2012.
While in the grand scheme Colombia is a minor player in US trade (but the US is Bogotá’s #1 partner), the FTA proves consequential in Florida-Colombia trade relations. [10]
The fourth-largest country in South America and the Sunshine State share deep cultural and economic ties.
A large Colombian colony lives in south Florida.
As a senior vice-president for international development at Enterprise Florida Manny Mencia explained:
“You can’t minimize the importance of these personal relationships. Florida-based Colombians do business with Colombia.” [11]
The U.S.-Colombia Trade Promotion Agreement (TPA) has the potential to increase both trade and investment between the United States and Colombia, like an estimated $134 billion services market, creating new opportunities for Florida service providers. [12]
Colombia was Florida’s fifth largest export market in 2017. [13]
Indeed, the Andean giant is a leading importer of high-tech gadgetry from Florida. [14]
Growth opportunities beckon Florida companies seeking to increase their footprint in Latin America.
Inevitably, the need for a partner to provide Spanish to English translations also enters the picture.
Partner with Professor Winn today to get your business, legal, or personal documents translated from Spanish into English.
Enjoy the confidence of retaining your favorite translator to help your company prosper in the Colombian market!
Mexico
Mexico ranks tenth among Florida’s trading partners while the state exported more than $1.6 billion to Mexico in 2015. [15]
As today, over 290,200 jobs in Florida depend on trade with Mexico.
While Mexico is the second-largest export market (after Canada) for US-based companies, it is the third-largest trading partner (after Canada and China).
In 2016, the Mexican GDP notched $1.0 trillion, but $2.3 trillion measured by purchase power parity (PPP). [17]
Is your company exploring business links with Mexico?
Partner with Professor Winn today to get your business, legal, or personal documents translated from Spanish into English.
Enjoy the confidence of retaining your favorite translator to help your company prosper in the Colombian market!
Chile
Florida and Chile are excellent trade partners.
The U.S.-Chile Free Trade Agreement United States-Chile Free Trade Agreement (FTA) entered into force on January 1, 2004 – almost a decade before Colombia.
U.S. foreign direct investment (FDI) in Chile (stock) was $27.3 billion in 2015 (latest data available). [18]
Chile is Florida’s seventh largest-trade partner with nearly $7.7 billion in bilateral trade. [19]
Just in the 2016/2017 period, trade shot up over 16%. [20]
Florida’s ports are significant components of the symbiosis between the two states:
The Port of Panama City is the number one port for Chilean copper and the Miami International Airport is the top entry point for Chilean salmon. [21]
Few can ignore the growing power plays of Chileans in the high-market Miami real estate market. [22]
Need for a partner to provide Spanish to English translations also inevitably enters the picture.
Partner with Professor Winn today to get your business, legal, or personal documents translated from Spanish into English.
Enjoy the confidence of retaining your favorite translator to help your company prosper in the Chilean market!
Atranslationace.com – Your Partner for Spanish Translations
Businesses venturing into international commerce need a team to help manage their affairs.
Be sure to choose a translator who has cultural literacy of the region you operate.
For example, this author has spent over 9 years in Latin America teaching English and translating Spanish and Portuguese to English.
Partner with Professor Winn at atranslationace.com today for your business, legal, defense, and individual translation needs.
Email in Spanish. Contracts and Terms of Use in Spanish.
Internet research in the Mexican web to learn about local conditions direct from the source and in the Spanish language.
Stop!
Work 1-on-1 with your personal translator – Professor Winn – for a confident, hands-on partner to help facilitate your business growth in Mexico.
If you are pursuing business in Latin America, make sure you have a reliable and experienced translation partner at your side.
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