4th Quarter 2013

Tennessee's export performance is first and foremost based on Canada.



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Trade Report continued

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Surveying exports by region, we have noted that the large European market is essentially seeing no growth at all. However, it was a strong quarter in Southeast Asia, where Tennessee shipments gained 20% for the quarter, in China, in Japan, and in Canada. The Canadian figures were particularly welcome, as this has been a problematic market for the state for most of 2013. Led by cars and computers, Tennessee sent almost $200 million more to Canada than a year ago. The state's Canadian exports of $2.26 billion amounted to more than a quarter of all Tennessee exports in the fourth quarter. At the end of the day, Tennessee's export performance is first and foremost based on Canada.

Early returns on 2014 are mixed. Though car shipments continue to soar, overall exports were flat in January and February. However, much of that is the result of large declines in one exported good: cotton. As the year progresses, we will see if other state export industries can make up for the slack.

TENNESSEE'S LARGEST EXPORT SECTORS

Value of Exports

Change over Year

Change over
Quarter
Medical Equipment
$884,071,949
12.3%
-2.2%
Motor Vehicle Parts
$711,518,088
-1.9%
0.7%
Motor Vehicles
$711,327,821
81.2%
24.6%
Computer Equipment $583,955,044 10.8% 12.5%
Basic Chemicals $526,465,010
11.1%
-2.6%
Aerospace Products
$465,413,699
19.6%
35.5%
Synthetic Fibers and Filament $429,320,148 4.2% -7.7%

GREATEST EXPORT GROWTH AND DECLINE*

Value of Exports
Growth %
Decline %
GREATEST GROWTH
Miscellaneous Iron and Steel Articles
$39,650,813
133.4
Refined Oil
$13,299,549
123.9
Passenger Cars
$707,234,532
82.0
Aluminum Waste and Scrap
$10,339,372
81.1
Printers
$24,749,529
78.1
       
GREATEST DECLINE
X-Ray Equipment
$6,478,374
 
-79.1
Coated Paper
$8,167,248
 
-61.0
Antisera and Blood
$12,890,146
 
-48.3
Video Game Machines
$20,027,394
 
-43.1
Engines and Parts
$7,065,582
 
-40.4
*among Tennessee's top 100 exported goods

FASTEST-CHANGING DESTINATIONS*

Value of Exports
Growth %
Decline %
GREATEST GROWTH
Egypt
$34,375,235
256.9
Luxembourg
$23,829,318
224.2
Morocco
$4,743,386
124.6
Saudi Arabia
$108,378,996
109.7
Turkey
$102,940,668
95.5
       
GREATEST DECLINE
Bangladesh
$1,748,184
 
-81.2
Nigeria
$8,468,248
 
-57.9
Jamaica
$4,757,577
 
-49.3
Venezuela
$13,874,689
 
-43.3
Ukraine
$5,036,104
 
-43.1
*among countries averaging > $5m sales/quarter

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