Louisiana export growth at 9.3%, performing better than national trend.
Louisiana exports showed strong growth through the second quarter of 2014, up $15.02 billion for the quarter and more than $32 billion for the year, reports World Trade Center New Orleans. The robust figures kept Louisiana in 6th place among top exporters in the nation and closed the gap with Illinois, currently in 5th place, by 7.15 percentage points.
Altogether, Louisiana accounted for 3.59% of the $803.96 billion in total U.S. exports for the year, including all U.S. Territories and the District of Colombia.
“This is due to great efforts from our Louisiana exporters, who are getting strong support from the State, entities like us, as well as from federal agencies such as the Department of Commerce,” says Dominik Knoll, chief executive officer of the World Trade Center of New Orleans. “We are very excited to see such positive results for the Louisiana business community.”
Petroleum Still Leads the Export Industry – Accounting for 39.41% of $32.12 Billion in Louisiana’s Total Export Value for the Year
Major growth in export industries were clustered in Agriculture, which grew $2.1 billion (35.6%), Transportation Equipment, up by $276 million (105.32%), and Metal Manufactures and Metal Products, which grew $141 million (41.6%) and $152 million (49.1%), respectively.
Major drops were restricted to
Non-Electric Machinery – down
36.95% to an even $1 billion.
Louisiana’s Top 10
Export Markets in Q2
1. Mexico
2. China
3. Canada
4. the Netherlands
5. Japan
6. Colombia
7. Egypt
8. France
9. Brazil
10. Panama
Notable Moves: Singapore fell from 3rd to 11th from this time last year and France moved up from 12th to 8th.
For more information, visit wtcno.org
