Analysis and Studies - Country Analysis
Los Angeles: a look at the market
December 14th 2023
Los Angeles is the most populous city in the US state of California and It’s the second most populous city in the United States.
Los Angeles has a different economy with a broad range of industries, best known as the home of the Hollywood film industry, the world's largest by revenue; the city was a significant site in the history of film. It also has one of the busiest container ports in the Americas. In 2018, the Los Angeles metropolitan area had a gross metropolitan product of over $1.0 trillion, making it the city with the third-largest GDP in the world. Los Angeles hosted the Summer Olympics in 1932 and 1984, and will also host in 2028. More recently, statewide droughts in California have filtered both the city's and Los Angeles County's water security.
Economy
The economy of Los Angeles is driven by international trade, entertainment (television, motion pictures, video games, music recording, and production), aerospace, technology, petroleum, fashion, apparel, and tourism.
Other significant industries include finance, telecommunications, law, healthcare, and transportation. In the 2017 Global Financial Centres Index, Los Angeles was bracked the 19th most competitive financial center in the world and sixth most competitive in the U.S. after New York City, San Francisco, Chicago, Boston, and Washington, D.C.
Of the five major film studios, only Paramount Pictures is within Los Angeles' city limits; it is located in the so-called Thirty-Mile Zone of entertainment headquarters in Southern California.
Los Angeles is the largest manufacturing center in the United States. The neighbouring ports of Los Angeles and Long Beach together comprise the busiest port in the United States by some measures and the 5th busiest port in the world, vital to trade within the Pacific Rim.
A look at the market
About latest trends
In August 2023 Los Angeles, CA exported $9.98 billion and imported $30.3 billion, outcoming in a negative trade balance of $20.3 billion.
Between August 2022 and August 2023 the exports of Los Angeles, CA have decreased by $-377 million (-3.64%), while imports decreased by $-5.75 billion
(-15.9%).
In August 2023, the top exports of Los Angeles, CA were Integrated Circuits ($611M), Aircraft Parts ($567M), Medical Instruments ($330M), Cars ($260M), and Raw Cotton ($230M). In August 2023 the top imports of Los Angeles, CA were Cars ($2.24B), Computers ($1.71B), Crude Petroleum ($1.6B), Telephones ($958M), and Other toys ($661M).
Destinations
In August 2023, Los Angeles, CA exported mainly to China ($1.95B), Japan ($1.06B), South Korea ($823M), Australia ($665M), and Taiwan ($580M), and imported for the most part from China ($11.2B), Vietnam ($3B), Japan ($2.59B), South Korea ($1.71B), and Taiwan ($1.57B).
Growth
In August 2023, the decrease in Los Angeles, CA's year-by-year exports was explained primarily by an decrease in exports to Hong Kong (-36.7%), South Korea (-6.9%), and Australia ( -9.73%), and product exports decrease in Integrated Circuits ( -17%), Aircraft Parts (-16.9%), and Office Machine Parts (-57%).
In August 2023, the decrease in Los Angeles, CA's year-by-year imports was explained primarily by an decrease in imports from Italy (-33.4%), Russia (-59.2%), and Nigeria ( -97%), and product imports decrease in Sports Equipment (-19.5%), Rubber Apparel (-35.9%), and Cars (-2.97%).
Fonti:
https://oec.world/en
https://data.worldbank.org/
https://www.trademap.org/