Missouri exports increase 6.5% from 2002 total

As economic conditions began to improve in Missouri in 2003, so did international sales of the state's products. Missouri exports increased by 6.5 percent over 2002 as exports totaled $7.23 billion compared to $6.79 billion the previous year, according to the Missouri Department of Economic Development.

"Increased sales of Missouri products abroad is another important indicator that Missouri's economy has turned the corner on the national recession," DED Director Kelvin Simmons said in a March 1 news release.

"Missouri exports appear to be returning to the level they were prior to the recession. We will continue to work with Missouri companies to help them expand sales and increase their competitiveness in the global marketplace," Simmons said.

Missouri ranked 26th in the nation for export sales; however, the state's international sales grew at a faster pace than the nation's, which averaged a 4.4 percent increase in 2003.

Four of Missouri's top 10 export categories saw double-digit gains: chemicals rose 24 percent; plastics and rubber grew nearly 20 percent; leather products increased 11 percent; and electrical equipment, appliances and components rose by 10 percent. Transportation equipment was Missouri's top export commodity in 2003, with nearly $2.2 billion in sales, but industry sales declined by 4.51 percent. Food and kindred products was the only other industry in the top 10 to experience slumping sales, off 1.03 percent.

Canada and Mexico remained Missouri's top export recipients. Canada imported $3.08 billion worth of Missouri goods, a decrease of 1.16 percent. Sales to Mexico increased by nearly 8 percent to $748 million. Eight of the top 10 export destinations increased sales with five registering double-digit increases: Japan, China, Italy, Hong Kong and Belgium. Only two top 10 countries imported fewer Missouri goods Canada and the United Kingdom (down 12.21 percent).

Missouri's top export partners were Canada, Germany ($237 million), Mexico, Italy ($187 million), Japan ($420 million), Hong Kong ($177 million), United Kingdom ($295 million), Belgium ($170 million), China ($260 million) and Australia ($137 million).

In Missouri, 75,010 jobs were directly tied to industries exporting to other countries last year. In addition, the state's top 10 exporting industries paid annual average wages of $41,894, well above the statewide average wage of $33,600.

Export data was compiled and analyzed by the foreign trade unit of the Massachusetts Institute for Social and Economic Research, based on information received from the U.S. Census Bureau, Foreign Trade Division. The statistics are based on origin of movement of manufactured product.