La. leading nation in global export growth

Leading overall growth of U.S. exports, Louisiana’s year-to-date 2011 worldwide merchandise exports increased by 45% in value over the same period in 2010, according to a report issued today by the World Trade Center of New Orleans. Through the third quarter, Louisiana exports totaled $39.8 billion, compared to $27.4 billion the previous year. Louisiana’s principal export markets through the third quarter were China ($4.01 billion), Mexico ($3.99 billion) and Japan ($2.75 billion), followed by the Netherlands, Canada, Singapore and Korea. Total U.S. exports were up almost 18% through the third quarter, with Louisiana ranking seventh among all states, compared to ninth for the same period in 2010. Among the top 10 exporting states, Louisiana had the highest rate of growth, far outpacing Illinois’ 32% increase. “2011 has been a very strong year in almost every sector for Louisiana,” says Larry Collins, Louisiana Economic Development director of International Services. “Economic uncertainty in the euro-zone has had little impact so far; growth in exports to countries like the Netherlands, Spain and Belgium reflect the continued demand for our state’s products around the world.” Exports of petroleum and coal products have seen a year-over-year increase of almost 78% to $13.5 billion through the third quarter, while oil- and gas-related exports have also soared, jumping 559% from $45.8 million in 2010 to $301.9 million in 2011. Louisiana’s other leading categories included agricultural products ($11.9 billion, up 37.2%), chemicals ($6.1 billion, up 31.5%), food products ($3.23 billion, up 15.4%), and minerals and ores ($1.3 billion, up 142%). See a state-by-state ranking of all global exports here, and a ranking of Louisiana’s global exports by country here.