Missouri kicks off 2015 with strong export growth

From the Missouri Department of Economic Development 

Missouri’s exports through the first quarter of 2015 totaled $3.32 billion, according to the latest figures from WISER Export Trade data. This number represents a 6.4 percent increase from the first quarter of 2014.

The state’s top exporting sector during the first quarter of 2015 was Chemicals,which recorded exports of just over $688 million. The second largest sector was Transportation Equipment with exports of $647 million, a 16.2 percent increase compared to the same quarter in 2014. The sectors rounding out the top five were Food and Kindred Products ($339 million), Machinery, except Electrical ($334 million), and Computer and Electronic Products ($202 million).

The largest foreign market for Missouri exports continues to be Canada, which purchased over $1 billion in goods during the first quarter of 2015. Mexico ($551 million) was next, followed by China ($185 million), Belgium ($168 million),Korea($134 million) and Japan ($130 million).

To read Missouri’s full 2015 first quarter export report, please click here.

The announcement of these growing export numbers came just prior to Gov. Jay Nixon joining the President’s Export Council in Washington, D.C. earlier today for a panel discussion on 21st Century Competitiveness. The panel, which was moderated by Boeing Chairman and CEO Jim McNerney, came in advance of the Governor leading a business delegation to the International Paris Air Show, the largest and longest-running aerospace trade show in the world.

The business delegation will have three primary goals: recruit additional foreign investment in the aerospace and advanced manufacturing sectors, strengthen relationships with global companies that already have a presence in the state, and increase exports of Missouri-made goods.

Calendar years 2014 and 2012 were the two best years on record for Missouri exports. Missouri export sales reached $14.1 billion in 2014, the second highest year on record after 2012. Aerospace export sales from Missouri increased 88 percent in the first quarter of 2015 over the same period last year.