The global recession and declining prices for oil and crops caused the value of all Louisiana exports to fall by 33.5% in the first quarter. That compares with a 22.5% plunge in U.S. export value during the same period, says the World Trade Center of New Orleans. Even though trade from Louisiana fell more than the national average, it moved up two spots in the ranking of export value per state. Louisiana was ranked seventh, exporting $7.6 billion worth of goods. Agricultural products accounted for the largest trade sector, with nearly $3.7 billion worth of crops being sold abroad. China was the biggest trade partner, buying $1.5 billion worth of goods, or nearly 20% more than in the first quarter of 2008.
Value of La. exports dropping more than national average
Sign up for the free Daily Report email – local news about the people, companies and issues that impact business impact business in Baton Rouge and beyond.
