1st Quarter 2013

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Trade Report continued

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We end our survey with Latin America. A sizable increase in paper exports was enough to push the Central American market up a bit (adding $5 million from a year ago), while sales to South America increased by a solid 6.4%. The lion's share of the gain was in Brazil, Chile, and Peru. Chile in fact was one of the state's best global markets for the quarter, growing almost by 30%, thanks largely to new computer sales. Not all the continent's markets were up, however. Argentina and Venezuela, in particular, saw significant reverses due to declines in the chemical sector.

All in all, the quarter was a decidedly mixed bag. A number of goods and several markets turned in very solid numbers. The automotive and medical sectors continued their strong performances. But the global slowdown clearly struck state exporters, and a series of major markets, NAFTA, China, and the European Union, proved difficult. These markets will have to reignite before the state can again count on the sort of export growth it has known in recent years.

TENNESSEE'S LARGEST EXPORT SECTORS

Value of Exports

Change over
Year

Change over
Quarter
Medical equipment
$900,508,413
14.3%
14.4%
Motor vehicle parts
$741,361,776
6.5%
2.2%
Motor vehicles
$597,660,797
46.2%
52.2%
Computer equipment $546,266,482 -5.2% 3.6%
Basic chemicals $527,735,803
-10.9%
11.4%
Synthetic fibers & filaments
$423,247,829
0.8%
2.8%
Motor vehicles $377,579,441 6.7% -11.1%


GREATEST EXPORT GROWTH AND DECLINE*

Value of Exports
Growth %
Decline %
GREATEST GROWTH
Photosensitive semiconductor devices
$37,599,866
1,519.6
Paper
$23,046,791
142.8
Bandages
$13,553,267
105.5
Electric motors & generators
$34,852,899
98.5
Miscellaneous plastics
$28,989,549
89.5
       
GREATEST DECLINE
Commercial trucks
$10,153,772
 
-82.0
Video game consoles
$8,590,468
 
-69.5
Electric storage batteries
$4,848,496
 
-68.6
Raw tobacco
$11,113,752
 
-53.6
Titanium dioxide pigments
$121,538,673
 
-44.9

*among Tennessee's top 100 exported goods


FASTEST-CHANGING DESTINATIONS*

Value of Exports
Growth %
Decline %
GREATEST GROWTH
Luxembourg
$9,622,104
645.3
Morocco
$7,345,481
169.1
United Arab Emirates
$224,648,909
72.6
Pakistan
$23,661,873
72.6
Singapore
$253,242,093
63.0
       
GREATEST DECLINE
New Zealand
$7,389,620
 
-55.4
Venezuela
$16,981,623
 
-40.5
Czech Republic
$7,463,089
 
-39.9
Oman
$19,732,606
 
-37.7
Hong Kong
$61,851,406
 
-36.1

*among countries averaging > $5m sales/quarter


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