Fall 1995 - Volume 1, No. 2
Tennessee International Trade Report
Tennessee exports continue their strong 1995 growth. Second quarter exports rose to $2.33 billion, an increase of $42 million from the first quarter, and some $371 million over the same period last year. This rate of export growth - 19 percent above last year's second quarter - again exceeded the national average. Japan once more eclipsed Mexico as the state's second largest market. Mexico's exports dropped about 2 percent from last year in the wake of its economic problems, however its second quarter exports increased 9 percent from the first quarter of 1995. Together Canada, Japan, Mexico, and the European Union accounted for about two-thirds of the state's exports.
The most impressive growth, however, came on the Indian subcontinent. Tennessee's sales to that region grew 177 percent from last year, with exports to India, Pakistan, and Bangladesh each up well over 100%. Five of the state's seven largest export sectors made substantial gains over their sales of a year ago. The chemical industry wrested the crown as the state's largest export sector from transportation (automotive) equipment, posting a growth rate this quarter of better than 50 percent. But it was the forestry industry which turned in the most impressive performance: a 4587 percent export explosion.
The third quarter has opened with yet another solid performance, with July exports up 4 percent from a year ago.
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