Louisiana Exports Total More Than $65B In 2014

NEW ORLEANS – Louisiana’s 2014 worldwide merchandise exports increased by 2.76 percent over 2013, according to a report released by the World Trade Center of New Orleans. For the year, Louisiana exports totaled $65.1 billion, compared to $63.3 billion in 2013, and $62.8 billion in 2012. These numbers mark the sixth consecutive year of export growth for the state.

         Louisiana’s principal export markets for 2014 were China ($8.7 billion, up 8.91 percent), Mexico ($7.3 billion, up 14.53 percent), and Canada ($3.3 billion, up 5.59 percent), followed by the Netherlands, Japan, Colombia, and France. Rounding out the top ten were Brazil, Egypt, and Panama.

         Exports for all 50 States and Puerto Rico, the U.S. Virgin Islands, and the District of Columbia set another annual record in 2014, totaling $1.62 trillion, a 2.78 percent increase over 2013. Louisiana ranked 6th among U.S. states, the same ranking it held in 2013. In general the top 10 exporting states remained the same with the exception of Washington moving to the top three and pushing New York out to number four. Of the top ten states, New York, Florida, and Michigan were the only states to show a decrease in exports.

 

Petroleum and Coal, Agriculture, and Chemicals remain top industries

 

         The value of Louisiana’s petroleum and coal exports fell by less than one percent in 2014, totaling $25.7 billion, but remained Louisiana’s top export, followed by Agriculture products and Chemicals.

         Agricultural products experienced an impressive rebound last year. In 2013 Louisiana exports of agricultural products decreased by 20.28 percent from the previous year, while in 2014, exports increased by 14.15 percent.  Oilseeds and Grains made up the largest percentage of exports of Agricultural Products totaling $17.7 billion.

         The largest decrease within Louisiana’s top 10 industries was in exports of Minerals and Ores, as the category showed another year of decline falling by 18.94 percent over 2013.

         Louisiana’s exports in Primary Metal Manufacturing (up 46.03 percent), Beverage and Tobacco Products (up 27.60 percent), Fabricated Metal Products (up 24.51 percent) and Transportation Equipment (up 18.25 percent) all showed strong export growth in 2014.

         The top three countries receiving Louisiana exports of Primary Metal Manufacturing goods were China, Mexico, and Panama. The main exports under the category of Primary Metal Manufacturing were Nonferrous Metal (except aluminum), Iron, Steel and Ferroalloy, Alumina, Aluminum and Processing, Foundries, and Steel Products from Purchase Steel.

 

Increased exports to Egypt, Colombia, and the Netherlands

 

         Louisiana exports to Egypt (up 79.19 percent), Colombia (up 48.83 percent) and the Netherlands (up 22.83 percent) showed significant growth in 2014, when compared to the previous year. Contrastingly, exports to Singapore dropped by 43.85 percent in 2014, knocking them to the 10th largest export market for Louisiana, from number 6 in 2013.

         Louisiana exports to Singapore in 2013 were at their largest in the last 10 years, before decreasing in 2014. The largest decrease in Louisiana exports to Singapore came from Petroleum and Coal Products; purchases of this commodity decreased by 52.56 percent in 2014. Export of Food and Kindred Products, as well as Computers and Electronic Products to Singapore also diminished.

         Louisiana export growth to Egypt was mostly due to increased purchases of Petroleum and Coal Products (up 439.36 percent) in 2014, while exports to Colombia not only increased in the areas of Petroleum and Coal Products but also Agricultural Products, Machinery (except electrical) followed by Transportation Equipment. Louisiana exports to the Netherlands also increased substantially in the areas of Agricultural Products, Primary Metal Manufacturing and Fabricated Metal Products.

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