Colorado exports on pace to set record high
Colorado's exports of manufactured, agricultural and mineral products increased 6 percent in the first half of 2013 compared to the same period in 2012, growing from $3.9 billion to $4.2 billion. At the current rate of growth, the state is projected to reach over $8.6 billion in annual export sales revenue, which would be a record high. Colorado's rate of growth topped the one percent national average for merchandise export growth for the same period.
"Exports continue to help strengthen Colorado's economy," said Ken Lund, executive director of the Colorado Office of Economic Development and International Trade (OEDIT). "Selling more Colorado-made goods in international markets means more jobs in Colorado. We commend the hard work of our businesses and entrepreneurs and will continue to support them as together we strive for even greater growth."
Key merchandise export categories for Colorado include computer and electronic products, food and kindred products, machinery, and chemicals. Among Colorado's top ten exports, electronics (+24%), civilian aircraft (+45%) engines and motors (+1235%) and frozen beef (+33%) showed significant increases.
Canada retains its position as Colorado's top export market with first half 2013 exports to the market reaching $975 million, up 6 percent over 2012. Key exports to Canada include beef, engine and motor parts, petroleum, pork and medical devices. Mexico retains its position as Colorado's second largest export market with $410 million in sales in the first half of 2013, a 2 percent decline over 2012. Mainland China remained third with $313 million in exports, decrease of 6 percent. Japan moved up to fourth at $223 million, followed by Switzerland, the Netherlands, the Republic of Korea, and Malaysia.
OEDIT continues to respond to the needs of Colorado exporters with targeted programs and services to help sell products and services overseas.
These statistics have been gathered from the World Institute for Strategic and Economic Research (WISER) from raw data supplied by the U.S. Census Bureau, Foreign Trade Division and the Origin of Movement Series. The U.S. Census Bureau data includes manufactured, agricultural and mineral products and does not include services, which are not broken out by states.