3rd Quarter 2011

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Cotton falls from the state's largest export sectors.

 

A shift in nonwovens' weights made for the greatest export growth . . . and decline.
 
Rerouted medical shipments account for Luxembourg's decline as an export destination.

Tennessee International Trade Report

[continued from Trade 1]

Southeast Asia, where much of the export picture is dominated by U.S. company supply chains, disappointed. Tennessee exports to the region were down 6% to $367 million, in part due to cotton but also because of a decline in aircraft-related sales to Singapore. South Asia was similarly down. A sizable decline in auto and SUV sales to Saudi Arabia and the United Arab Emirates produced a 12% loss for state exporters in the Middle East. Shipments to Central America and the Caribbean, where supply chains are also a major factor, were largely flat for the quarter, though the $17 million decline in charitable donations to the region makes the export numbers perhaps look a little worse than they really were.

It's fair to say that exports were remarkably robust considering all the uncertainties facing the international economy. Industries such as aluminum plating, engines, whiskey, and basic chemicals, as well as just about anything in the medical sector, had very good quarters in spite of the slowdowns we are seeing in some regions. Though alarming global events continue to cast a shadow over the future, exports have thus far been one of the few bright spots in an otherwise anemic 2011 economy. [home]

Tennessee's Largest Export Sectors

 
Exports

Change over
Year

Change over
Quarter
Medical equipment
$764,311,370
23.8%
-2.3%
Motor vehicle parts
$668,913,452
11.8%
-4.1%
Basic chemicals
$583,738,345
23.8%
9.3%
Computer equipment $462,957,582 -6.2% -4.4%
Synthetic fibers & filaments $442,441,555
15.9%
-2.0%
Auto, industrial, & electromedical instruments
$324,879,718
20.1%
6.1%
Agriculture & construction machinery
$280,233,138
74.0%
0.9%

Greatest Export Growth and Decline*

 
Value of Exports
Growth %
Decline %
GREATEST GROWTH
Synthetic nonwovens >70g & <150 g/sq. meter
$20,643,068
473.1
Misc. electric switches for <1,000 volts
$21,883,832
325.7
Cellular phones
$53,906,268
198.7
Misc. appliances implanted or worn in the body
$11,738,694
129.6
Fully revolving mechanical shovels & excavators
$49,279,777
116.2
       
GREATEST DECLINE
Synthetic nonwovens >25g & <70 g/sq. meter
$10,839,799
 
-63.1
Telephone parts
$20,072,124
 
-59.8
Cotton
$193,735,507
 
-57.5
Video games
$26,508,694
 
-52.7
Automobile gear boxes
$9,632,947
 
-51.5

*among Tennessee's top 100 exported goods

Fastest-Changing Export Destinations*

 
Value of Exports
Growth %
Decline %
GREATEST GROWTH
Kuwait
$29,611,755
215.6
Finland
$11,648,692
179.1
Belgium
$291,921,970
153.4
Morocco
$12,336,976
127.9
Venezuela
$33,393,392
110.3
       
GREATEST DECLINE
Luxembourg
$374,689
 
-99.7
Jamaica
$4,056,100
 
-75.0
Pakistan
$4,090,829
 
-52.7
Iraq
$5,981,421
 
-50.4
Saudi Arabia
$51,450,097
 
-43.6

*among countries averaging > $4m sales/quarter

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