1st Quarter 2013

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The fit between state exports and the strength of the dollar is stronger than a decade ago.
by Steven G. Livingston | 1 | 2 | 3 | 4 | 5 | 6

The strength of the dollar is measured using a trade-weighted index. "Trade-weighted" simply means the index is composed of each major export market adjusted by its size. For the case of Tennessee, the exchange rate with Canada counts for a great deal but that with Argentina not so much. Our revised index is created from the 24 markets that each account for at least 0.5% of the value of the state's foreign shipments, as averaged over the years 2010 to 2012. (The nations using the euro are treated as one market.) These markets together account for more than 90% of total Tennessee exports. Each market and its percentage in the index is given in a chart at the end of this article.

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