3rd Quarter 2013


Tennessee exporters turned in a solid third quarter and are poised to do well over the coming quarters. However, the world economy still is not out of the woods, and exporters have their work cut out for them in 2014.



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Trade Report continued

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The rest of the world was basically a wash. Both NAFTA partners, Canada and Mexico, grew by a very modest 3%. South America was an even more sluggish 2%. A 5% drop in shipments to Brazil undid strong gains in Chile and Argentina. The eurozone was for all intents and purposes flat, as exports barely budged from $988 million in the third quarter of 2012 to $995 million in 2013. Though the U.K. market was a bit better for the quarter, posting an 8% gain, this wasn't enough to reverse losses in that country earlier in the year.

Compared to the past few quarters, or compared to the rest of the nation, Tennessee exporters turned in a solid third quarter and are poised to do well over the coming quarters. However, the relative narrowness of the gains (just a few industries, just a few markets) shows that the world economy still is not out of the woods, and exporters have their work cut out for them in 2014.

TENNESSEE'S LARGEST EXPORT SECTORS

Value of Exports

Change over Year

Change over
Quarter
Medical equipment
$903,570,944
12.2%
0.1%
Motor vehicle parts
$706,297,286
-1.0%
-6.3%
Motor vehicles
$570,964,405
47.0%
42.6%
Basic chemicals $540,486,840 1.7% 0.1%
Computer equipment $519,072,682
-1.4%
4.9%
Synthetic fibers & filaments
$465,380,307
7.4%
-10.2%
Auto, industrial, & electromedical instruments $371,406,387 -1.4% -4.4%

GREATEST EXPORT GROWTH AND DECLINE*

Value of Exports
Growth %
Decline %
GREATEST GROWTH
Photovoltaic cells
$42,054,063
178.7
Electric control boards & panels
$27,706,827
70.1
Miscellaneous iron & steel articles
$24,853,083
63.5
Aluminum plates > .2mm thick
$98,696,340
60.0
Cars
$566,472,187
56.7
       
GREATEST DECLINE
Video game consoles
$10,370,248
 
-74.4
Trucks
$13,350,417
 
-73.3
Charitable goods & returns
$4,352,097
 
-68.5
Machines for mixing minerals & parts
$8,077,407
 
-58.7
X-ray equipment
$7,913,382
 
-55.5
*among Tennessee's top 100 exported goods

FASTEST-CHANGING DESTINATIONS*

Value of Exports
Growth %
Decline %
GREATEST GROWTH
Luxembourg
$15,083,475
1,862.2
Turkey
$123,014,274
138.5
New Zealand
$19,246,418
110.0
Lebanon
$5,079,313
104.2
Indonesia
$62,303,874
92.9
       
GREATEST DECLINE
Nigeria
$6,492,572
 
-79.1
Bahrain
$5,997,384
 
-60.5
Jamaica
$3,138,407
 
-57.6
Ukraine
$4,918,416
 
-33.1
United Arab Emirates
$122,678,184
 
-29.8
*among countries averaging > $5m sales/quarter

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