La. posts record export total in 2011, leads nation in export growth

Following a national trend, Louisiana’s 2011 worldwide exports increased by 33.3% over 2010, breaking the previous single-year record set in 2008, according to a report released today by the World Trade Center of New Orleans. For the year, Louisiana exports totaled $55.12 billion, compared to $41.35 billion in 2010—far exceeding the previous record of $41.9 billion. Louisiana’s top export markets last year were China ($7.34 billion, up 13.1%), Mexico ($5.69 billion, up 105%) and Japan ($3.85 billion, up 25.5%), followed by the Netherlands, Canada, Korea, Singapore and Brazil. The energy and agriculture sectors led Louisiana exports. The value of Louisiana’s petroleum and coal exports rose almost 75% in 2011—to $18.9 billion from $10.8 billion a year previous—reflecting increased growing global demand and higher prices. Agriculture exports totaled $17.3 billion, up 14.18% on the year, with chemicals ($8.14 billion, up 29%), food manufactures ($4 billion, up 2.2%), and minerals and ores ($1.7 billion, up 117%) rounding out the state’s top five industries. “Our success is a reflection of cooperation between our great ports and transportation system, our economic development agencies, our agriculture industry and food producers, and all the businesses, large and small, which are growing their companies through international trade,” says WTC CEO Dominik Knoll. Exports for all 50 states and Puerto Rico, the U.S. Virgin Islands and the District of Columbia also set a record in 2011, totaling $1.48 trillion—a 15.8% increase over 2010. Louisiana ranked seventh among U.S. states and had the highest rate of export growth.