North Carolina exports surge in 2011

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North Carolina exports grew more than 8 percent in 2011, according to a press release from the office of Governor Bev Perdue.

Exports from the state grew to $27 billion, exceeding the 2008 export peak of $25 billion.
 
During the calendar year, North Carolina’s top ten exports accounted for nearly 80 percent of the state’s total shipments in 2011. Those exports were chemicals, machinery equipment, transportation equipment, computer and electronic products, and textiles and fabrics. The top five trading partners were Canada, China, Mexico, Japan and Germany.

“North Carolina’s record level of exports in 2011 is a clear indicator that our efforts to stimulate the economy by seeking out new markets and new opportunities for trade and investment are paying off,” Perdue said in a press release.
North Carolina recently initiated the NC Passport to Export program to help small and medium-sized businesses find international markets for their goods. The program provides companies with new market research and export education, with branding their products for a global market, and with access to international trade shows in the hope of increasing the number of North Carolina exporters.
 
The program is part of the Small Business Administration’s State Trade and Export Promotion (STEP) initiative, which provides federal grants to states for exporting assistance efforts. The N.C. Department of Commerce received $603,442 in funds from the program and matched 25 percent of the federal money.

Joe Dougherty, vice president of Cape Fear’s chapter of the North Carolina World Trade Association, says he has seen exports grow from the region.

“There is a greater interest in exporting because people see the associated opportunities,” Dougherty said.

Small businesses benefit from trading in international markets because it diversifies their risks as it requires them to be less dependent on the stability of the United States economy. Dougherty said businesses are also tapping the markets of developing countries, using the Internet and finding other innovative solutions to increase exports from North Carolina and the region.

“There’s even greater potential to grow exports here,” Dougherty said.

During the calendar year, North Carolina’s top ten exports accounted for nearly 80 percent of the state’s total shipments in 2011. Those exports were chemicals, machinery equipment, transportation equipment, computer and electronic products, and textiles and fabrics. The top five trading partners were Canada, China, Mexico, Japan and Germany.

“North Carolina’s record level of exports in 2011 is a clear indicator that our efforts to stimulate the economy by seeking out new markets and new opportunities for trade and investment are paying off,” Perdue said in a press release.

Source: http://wilmingtonbiz.com/industry_news_details.php?id=3634