2nd Quarter 2013

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Most other top export sectors saw very little change, though a few experienced a rough ride. The worst was that of computer peripherals and parts. Shipments of laptops and computers were off slightly, but those of computer parts fell by 60% (to $36 million). Its $56 million loss was the largest suffered by any Tennessee export sector. The silver lining, if that's what we wish to call it, is that almost all of this loss occurred in one country: Japan. Exports of computer parts to Japan dropped from $40 to under $1 million.

A similarly remarkable drop in one country, this time Canada, played the same role in depressing the state's sales of human blood and antisera (from $46 to $29 million). Canada was also the culprit in the large export loss suffered by the state's DVD/gaming industry. Computer game sales dropped by more than a third (to $59 million) in the second quarter. And Canada accounted for a third tough performance, that of the mechanical excavator industry. A $15 million drop in sales north of the border accounted for more than half of its global decline to $30 million from $57 million a year ago.

Tennessee's Leading Trade Partners

(exports in billions) tennessee leading trade partners graph [larger view]

As these losses might suggest, problems in Canada continue to be a big part of the state's slowed export growth. Tennessee shipments to Canada fell from $2.291 to $2.154 billion last quarter. Some of that loss was recovered in Mexico, where exports grew from $1.002 to $1.079 billion. Elsewhere, with one exception, it was a hard slog. Sales to the Middle East were unchanged, as they were to the total Chinese economic area. Losses in Taiwan and Hong Kong ate away the modest gains in China itself. Exports to Japan fell by about $30 million (to $459.3 million), reversing the gains of recent quarters. In Europe, austerity continued to bite. Total Tennessee shipments to the E.U. dropped around $30 million (to $1.316 billion). Sales to both Germany and the U.K. were down. In Latin America sales were off by $30 million also, though the smaller Central American and Caribbean markets performed better.

Tennessee Monthly Imports

tennessee monthly imports graph
[larger view]

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