March 14, 2008

IN THIS ISSUE

NJ & PA Record Double-Digit Export Growth in 2007

New Jersey recorded a growth of 12.8% in its exports, from $27 billion in 2006 to nearly $30.5 billion in 2007. Canada was its largest market, accounting for over 20% of 2007 exports. Shipments of goods from New Jersey to our northern neighbor equaled $6.2 billion. Among the top five export markets were also the United Kingdom, Japan, Germany and Mexico. From New Jersey, these countries imported goods worth $2.5 billion, $2.4 billion, $1.6 billion and $1.4 billion, respectively. More than 66% of goods exported were chemical manufactures, primary metal manufactures, transportation equipment, computers and electronic products, and waste and scrap.

Last year, exports of goods from Pennsylvania totaled $29.1 billion, over 10% more than $26.3 billion recorded in 2006. Nearly 30% of the states exports, or $9.2 billion of goods, were shipped to Canada. The second most popular markets was Mexico, which accounted for $2.2 billion of exports, followed by Belgium - $1.5 billion, the United Kingdom - $1.3 billion and China - $1.3 billion. Chemical manufactures, machinery manufactures, primary metal manufactures, transportation equipment, and computers and electronic products accounted for approximately 65% of Pennsylvania exports in 2007.


In January, exports from New Jersey totaled $3.2 billion, while Pennsylvania exports equaled to $2.9 billion. Thus, the former retained its position as the ninth largest exporting state, while the latter reclaimed it 2006 ranking as the tenth.

Source of statistical data: the Office of Trade and Industry Information (OTII), Manufacturing and Services, International Trade Administration, U.S. Department of Commerce.


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