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Summer 1995 - Volume 1, No. 1

Tennessee International Trade Report
1st Quarter 1995

In spite of the Mexican peso crisis, Tennessee exports have been booming in 1995. Shaking off an 11% decline in exports to Mexico, overall first quarter exports rose to $2.290 billion, $277.5 million above last quarter, and nearly $600 million above exports for the same period in 1994. - a 34% growth rate. Virtually every sector improved its export performance. In March, the state's exports exceeded $800 million in a month for the first time. Tennessee's export sales continue to grow faster than the national average and, in another first, the state's manufacturing exports climbed above 1.4% of total US manufacturing exports. The bulk of exports again went to Canada, Mexico, and the European Union, however East Asian markets were particularly dynamic, with trade to China up some 528% and exports to Vietnam an astronomical 25775% . Transportation (automotive) equipment and chemicals remained Tennessee's largest export sectors and both made healthy gains during the first three months of 1995, but the oil sectors (SICs 13 and 29) and agricultural crops posted the biggest increases in growth.

The second quarter appears off to a similar record setting pace, with April exports 29% higher than a year ago.

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