China and Florida have a prosperous and mutually beneficial commercial relationship, with bilateral trade and investment on a strong growth trajectory for many years. Between 2008 and 2017, exports of goods from Florida to China have grown by 114%, while services exports have increased by 244% over the same period. China now ranks as Florida’s 6th-largest export market for goods, and 3rd-largest market for services in the world. Florida’s commercial partnership with other countries in the region has similarly exhibited an upward trend.
Florida companies have also been very active in South East Asia. The state’s most important markets for Florida-origin exports are Malaysia and Singapore. Countries such as Vietnam and Indonesia are among Florida’s top 50 merchandise trading partners, with Indonesia having seen a 63% increase in merchandise exports from Florida between 2016 and 2017.
For companies in China and South East Asia, Florida offers unprecedented access to cutting-edge products and services, as well as attractive investment opportunities. Much as Hong Kong acts as a gateway to the vast Chinese market, Florida is the gateway to high-growth, increasingly sophisticated markets throughout Latin America and the Caribbean, with more than 650 million consumers and a nominal economic output of US$6 trillion.
In addition to Florida’s status as a premier global travel destination, the Sunshine State is home to some of America’s most dynamic and innovative companies. Some of Florida’s leading economic sectors include:
Advanced Manufacturing: Florida is home to over 31,000 manufacturing companies, employing a third of a million people across a variety of industry segments.
Aviation and Aerospace: Florida has the 3rd-largest aerospace cluster in the United States, as well as a vast commercial aviation industry. Combined, the different industry segments employ about 100,000 Floridians, at more than 2,000 business establishments.
Life Sciences: Florida is a key center for cutting-edge medical and biotech research, employing more than 27,000 people. Strong collaboration with leading local universities around the life science clusters of Miami, Tampa Bay, Orlando, and Gainesville offers unique opportunities for international biotech, pharmaceutical, and medical device companies.
Financial and Professional Services: Financial and professional service providers in Florida employ close to a million people, across a range of industry segments such as accounting and actuarial services, architectural and creative design, engineering, product research and testing, legal and arbitrage services, fintech, commercial lending and trade finance, private equity, and wealth management, among others.
Information and Communications Technology: Boca Raton, Florida, is the birthplace of IBM’s personal computer. Today, a quarter of a million Floridians work at close to 30,000 ICT business establishments all over the state. From photonics/lasers and modeling/simulation/training to computer systems, software development, and precision control equipment, Florida is truly an ICT powerhouse.
Logistics and Distribution: At the commercial crossroads of the Americas, Florida is a natural hub for cargo handling and value-added logistics services. The state’s 20 commercial airports, 15 deepwater seaports, and more 200,000 kilometers of highway offer easy, efficient access to markets throughout the Western Hemisphere, and beyond.
Enterprise Florida‘s Regional Office for China and South East Asia is located in Hong Kong. We provide information and assistance to Asian companies interested in establishing operations in Florida, or identifying strategic partners in Florida. We also assist Florida companies in exporting to Asian markets, by providing specific market information and regulatory guidance, identifying potential business partners, and otherwise opening business opportunities.
How can we help? Contact:
Chief Representative, Hong Kong +852-3653-5084