The falling agricultural and oil prices caused by the worldwide recession has led to a significant drop in the value of Louisiana exports. State export shipments during the first two months of the year were $5.3 billion, 29% lower than the total through February 2008. Nationwide, export values dropped by 22.5% during the first two months of 2009. Despite the big plunge, Louisiana actually moved up to seventh place in the rankings of exports by state. Last year, the state was ranked 10th. China was the top destination for Louisiana exports, with the country buying $1.28 billion in goods. Oil seeds, such as soybeans and cotton, and miscellaneous grain were the biggest export category, accounting for $1.8 billion worth of products.
Value of state exports plunge
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.
