Policy Analysis | February 2014

U.S. Goods and Services Exports Soar to Unprecedented Heights in 2013; SLC States Shine

Sujit M. CanagaRetna

“For every $1 billion in exports, nearly 5,000 jobs are supported across our nation, and with more than 95 percent of the world’s potential consumers residing outside our borders, exports will continue to be an important driver of the local and national economy.”

- Penny Pritzker, Secretary, U.S. Department of Commerce

The U.S. Department of Commerce recently released goods and services export data for 2013 revealing very impressive trends: U.S. exports of goods and services soared to an unprecedented $2.3 trillion, an expansion of 2.8 percent compared to levels reached in 2012. Not only did the United States achieve striking gains on the export front, the nation’s imports declined by 0.1 percent in 2013 to $2.7 trillion, the first time imports had fallen since 2009 and the second consecutive annual drop in imports since 2001. The simultaneous growth in exports and contraction in imports facilitated an improvement in the nation’s trade deficit, a decline of 11.8 percent in 2013 when compared to the previous year. (The U.S. trade deficit in goods and services in 2013 amounted to $471.5 billion, an improvement from the $534.7 billion deficit in 2012). Notably, total exports as a share of U.S. GDP in 2013 held steady from the record 13.5 percent notched in 2011, an enhancement from the 12.5 percent clinched in 2008.

Source: http://www.bea.gov/newsreleases/international/trade/2014/pdf/trad1213.pdf

Focusing more specifically on U.S. goods exports in 2013 facilitates several prominent developments:

  • U.S. goods exports to the world totaled $1.6 trillion in 2013, a slight increase from the $1.5 trillion reached in 2012. In the four immediate prior years, U.S. goods exports amounted to $1.1 trillion in 2009, $1.3 trillion in 2010, $1.4 trillion in 2011, and 1.5 trillion in 2012.
  • The top three U.S. export markets in 2013 (Canada, Mexico and China) all took in record volumes of U.S. goods. Specifically, Canada with $300.3 billion (an increase of 2.7 percent over 2012); Mexico with $226.2 billion (up 4.7 percent compared to the prior year) and China ($122 billion, an expansion of 10.4 percent relative to 2012).
  • In addition, Japan ($65.1 billion), Germany ($47.4 billion) and the United Kingdom ($47.3 billion) ranked as the next three top U.S. export markets for goods.
  • Importantly, U.S. merchandise exports to 63 markets reached record levels in 2013, including nations such as Colombia, Panama and Peru, three nations that clinched Free Trade Agreements (FTA) with the United States in recent years.
  • Reinforcing that FTAs remain one of the most effective ways to open up foreign markets to U.S. exporters was the fact that in 2013, U.S. goods exports to nations with an FTA escalated. Specifically, along with the percent increases outlined earlier for Canada and Mexico in 2013, they also increased for Colombia (13.8 percent), Panama (9.6 percent), Peru (7.6 percent) and Jordan (18.2 percent).

Source: http://www.bea.gov/newsreleases/international/trade/2014/pdf/trad1213.pdf

  • In terms of the record of individual states in 2013, 16 states established new export heights. The 16 states that set new records for exports in 2013 included: Texas ($279.7 billion); California ($168.1 billion); Washington ($81.9 billion); Louisiana ($63.1 billion); Michigan ($58.5 billion); Ohio ($50.5 billion); Georgia ($37.6 billion); Tennessee ($32.4 billion); North Carolina ($29.3 billion); South Carolina ($26.1 billion); Kentucky ($25.3 billion); Connecticut ($16.5 billion); Mississippi ($12.4 billion); Maryland ($11.8 billion); Colorado ($8.7 billion); and Oklahoma ($6.9 billion). Prominently, nine of these 16 states were in the SLC region, and the state with the highest volume of exports in 2013 was Texas, an SLC state.
  • A review of the goods that comprised U.S. exports indicates that capital goods (which include industrial machines, commercial aircraft, medical equipment, telecommunications and computer equipment) were the largest category with exports totaling $534.1 billion, followed by industrial supplies ($508.2 billion); consumer goods ($188.5 billion); automotive vehicles and parts ($152.1 billion); foods, feeds and beverages ($136 billion); and other goods ($60 billion). Crucially, the export values reached in each of these categories in 2013 were levels not reached before.
  • Confirming a trend that has been highlighted by several recent SLC publications, the American manufacturing sector continued to prosper, affirmed by the record $655.6 billion in manufactured goods exports the nation clinched in 2013. Strikingly, the United States continues to enjoy a trade surplus in manufactured goods with its 20 FTA partners.
  • One of the outstanding manufacturing sectors for U.S. exports was automotive vehicles and parts. In 2013, U.S. exports of automotive vehicles and parts grew to an imposing $152.1 billion, another record number, higher by 4.1 percent from 2012. Under this category, the export of passenger cars amounted to $56.1 billion and grew 4.9 percent in 2013.
  • Alongside goods exports, U.S. service exports remain a smaller but still crucial component of the nation’s overall export strategy. In 2013, U.S. services exports totaled $682 billion, another record level and an increase of $32.6 billion, or 5 percent, compared to 2012.
  • Among the major services export categories in 2013 were other private services (which include items such as business, professional, and technical services, insurance services, and financial services) at $303.9 billion, travel ($139.6 billion), royalties and license fees ($129.7 billion), other transportation ($45.2 billion), passenger fares ($41.2 billion), and government services ($2.9 billion). As in the case of several goods export categories, the values secured in 2013 all amounted to record levels not accomplished in the past.

Total State Exports to World, 2009-2013

(click on headers to sort by column)

State 2009 2010 2011 2012 2013
Alabama $12,354,803,017 $15,495,257,436 $17,881,212,869 $19,572,398,339 $19,299,183,654
Alaska $3,270,429,748 $4,154,776,632 $5,258,959,631 $4,543,401,424 $4,565,090,326
Arizona $14,023,462,270 $15,720,859,418 $17,853,626,442 $18,405,117,608 $19,396,136,643
Arkansas $5,266,978,589 $5,219,461,184 $5,607,087,872 $7,619,984,195 $7,154,477,245
California $120,079,965,765 $143,208,226,608 $159,135,679,549 $161,879,918,490 $168,128,418,347
Colorado $5,867,265,731 $6,726,497,299 $7,331,834,773 $8,167,350,412 $8,688,810,608
Connecticut $13,978,898,792 $16,028,821,292 $16,208,978,983 $15,961,497,066 $16,476,295,175
Delaware $4,311,773,339 $4,945,070,165 $5,511,674,312 $5,113,440,747 $5,402,958,514
District of Columbia $1,090,543,044 $1,482,780,613 $1,038,572,392 $2,014,637,512 $2,708,412,821
Florida $46,888,006,761 $55,399,353,874 $64,928,828,216 $66,201,800,100 $60,461,046,942
Georgia $23,743,041,911 $28,898,749,200 $34,769,495,434 $36,067,246,541 $37,578,190,121
Hawaii $563,059,688 $684,102,935 $884,149,207 $731,664,010 $598,287,464
Idaho $3,877,389,493 $5,156,539,809 $5,906,127,676 $6,119,107,885 $5,783,869,449
Illinois $41,626,110,699 $50,060,707,025 $64,831,160,887 $68,127,010,189 $65,848,653,705
Indiana $22,907,367,488 $28,764,260,136 $32,291,721,998 $34,431,316,562 $34,151,941,861
Iowa $9,042,125,564 $10,879,762,927 $13,298,379,328 $14,635,708,756 $13,866,861,965
Kansas $8,916,920,376 $9,899,680,110 $11,599,090,121 $11,696,221,621 $12,451,658,111
Kentucky $17,649,768,303 $19,346,214,603 $20,080,249,676 $22,125,951,067 $25,285,489,313
Louisiana $32,616,451,452 $41,370,690,441 $54,951,018,343 $62,892,633,604 $63,079,100,473
Maine $2,231,142,502 $3,162,186,695 $3,418,960,854 $3,047,707,915 $2,681,427,716
Maryland $9,225,376,423 $10,167,475,739 $10,851,301,762 $11,741,088,756 $11,752,039,804
Massachusetts $23,593,277,279 $26,304,882,035 $27,748,086,527 $25,612,846,301 $26,798,082,128
Michigan $32,655,333,884 $44,851,338,759 $51,004,139,930 $56,993,402,032 $58,456,169,285
Minnesota $15,531,557,833 $18,903,679,573 $20,692,431,051 $20,826,764,033 $20,720,435,769
Mississippi $6,316,488,807 $8,223,946,006 $10,931,444,494 $11,786,805,196 $12,367,524,201
Missouri $9,522,229,617 $12,924,556,333 $14,150,839,409 $13,927,684,071 $12,931,005,328
Montana $1,053,312,395 $1,393,457,515 $1,587,296,486 $1,576,876,497 $1,498,585,418
Nebraska $4,872,924,899 $5,820,958,718 $7,581,815,413 $7,458,644,218 $7,389,395,729
Nevada $5,672,185,096 $5,912,569,270 $7,978,099,875 $10,260,686,265 $8,762,578,795
New Hampshire $3,060,715,994 $4,368,161,140 $4,296,875,466 $3,488,610,845 $4,275,892,439
New Jersey $27,244,246,431 $32,130,944,531 $38,109,255,900 $37,277,506,952 $36,494,286,946
New Mexico $1,269,535,234 $1,542,649,869 $2,092,807,561 $2,967,650,904 $2,719,604,952
New York $58,743,030,056 $69,684,943,969 $84,792,643,747 $81,358,857,002 $83,994,769,837
North Carolina $21,792,953,156 $24,917,912,305 $27,007,207,635 $28,832,674,500 $29,304,355,642
North Dakota $2,193,011,373 $2,532,206,235 $3,392,612,844 $4,308,687,941 $3,714,500,160
Ohio $34,104,484,238 $41,504,651,676 $46,430,910,893 $48,647,707,663 $50,548,837,194
Oklahoma $4,414,915,717 $5,354,115,399 $6,219,037,664 $6,578,478,210 $6,913,605,954
Oregon $14,907,405,450 $17,684,177,481 $18,310,343,177 $18,386,035,272 $18,625,982,091
Pennsylvania $28,381,102,168 $34,942,927,237 $41,055,746,228 $38,829,058,903 $40,927,684,141
Puerto Rico $20,937,064,690 $22,783,517,073 $18,197,296,492 $18,669,444,714 $19,917,622,607
Rhode Island $1,495,522,447 $1,948,784,173 $2,280,689,225 $2,370,156,815 $2,160,044,146
South Carolina $16,488,111,133 $20,335,645,295 $24,692,671,274 $25,110,306,961 $26,109,472,408
South Dakota $1,010,960,601 $1,259,405,035 $1,460,271,120 $1,556,241,031 $1,573,476,466
Tennessee $20,484,299,844 $25,947,896,703 $29,987,642,740 $31,139,656,598 $32,390,176,633
Texas $162,994,740,450 $206,992,356,499 $250,662,346,912 $264,708,659,761 $279,694,916,153
Unallocated $33,619,608,007 $45,731,777,165 $45,314,856,697 $47,903,048,670 $51,360,339,792
Utah $10,337,135,031 $13,808,477,247 $18,930,155,519 $19,255,792,830 $16,064,732,913
Vermont $3,219,270,656 $4,278,137,163 $4,256,670,096 $4,139,591,084 $4,016,949,608
Virgin Islands $1,217,003,134 $1,898,500,613 $2,315,770,889 $867,387,121 $996,311,500
Virginia $15,052,091,034 $17,168,563,818 $18,087,745,822 $18,280,677,429 $17,940,511,351
Washington $51,850,856,743 $53,345,329,885 $64,774,252,895 $75,618,900,503 $81,938,684,618
West Virginia $4,825,570,207 $6,443,030,890 $9,034,450,098 $11,336,865,617 $8,474,208,495
Wisconsin $16,724,996,880 $19,800,247,695 $22,057,273,023 $23,116,666,561 $23,075,279,331
Wyoming $926,141,589 $983,304,393 $1,218,429,200 $1,420,924,817 $1,337,050,462
U.S. Total $1,056,042,963,028 $1,278,494,525,839 $1,480,290,226,627 $1,545,708,500,116 $1,578,851,422,749

Source: http://tse.export.gov/TSE/MapDisplay.aspx