Louisiana exports decline

Louisiana’s total exports declined 29% to $29.3 billion in value over the first three quarters of 2009 while total U.S. exports dropped by 23.8%, according to a report issued by the World Trade Center of New Orleans. This follows up to 2008’s record-breaking year, with exports from Louisiana reaching nearly $42 billion. However, the decrease was the mark of a global recession and low agricultural and oil prices. All top exports declined from January to September. Agricultural products fell 22.9%, as did processed foods by 24.3%. Petroleum and coal products declined 47% and chemicals declined 28.3%. Louisiana’s principal export markets for the first nine months of 2009 were China, Japan and Mexico. The state’s shipments to China increased 69.8%, reaching $3.1 billion as exports to almost all other major markets declined. “Although the effects of the worldwide recession are still impacting Louisiana’s exports to most markets, we’re hopeful that the recovery that is underway in China, India, Europe and other countries will translate into increased state exports worldwide,” says Larry Collins, director of international services with Louisiana Economic Development.—Emma James