The gears of Miami’s international trade engine seem well oiled to remain an important part of the region’s economy, but it’s not the only, or even the most important, part of international commerce, experts argue.
Trade through the Miami Customs District, which stretches from Port St. Lucie to the Keys, made more than a full recovery in 2010, registering $95.4 billion. That’s well past the $90.2 billion in 2008, prior to recession hitting the sector. That susceptibility to economic trends, however, is a key concern for Miami’s economy, says Jerry Haar, an associate dean and professor at Florida International University’s College of Business.
“Are we absolute best transshipment center that we can possibly be in providing costeffective, world-class services to exporters, importers and business facilitators?” he asked. “I think those are the only questions that count.
“If we do that, that means we will do great during good times and less poor than many other ports during bad times,” he added.
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Read: “International trade likely to flow faster after major recovery,“ an article by Miami Today.