22 January 2011
Eighteen of 50 U.S. states will be on track to double their exports by 2014, an announced goal of the Obama Administration, according to WorldCity projections ahead of the release of 2010 annual data on Feb. 11.
Two of them are among the Top 10 exporting states, No. 1-ranked Texas and No. 7 Michigan.
They are followed by No. 12 Indiana, No. 15 Tennessee, No. 26 Utah, No. 27 Missouri, No. 31 Mississippi, No. 33 West Virginia, No. 37 Idaho, No. 40 Alaska, No. 41 Vermont, No. 42 New Hampshire, No. 43 Maine, No. 45 Rhode Island, No. 47 Montana and No. 50 Hawaii. The U.S. Virgin Islands and the Washington, D.C., although not states, are also both on track to double imports by 2014, after the first year.
These states account for about one-third of all U.S. exports.
Among Top 10 exporting states, California (No. 2) exports had increased at an 8.2 percent rate through November 2010, the latest U.S. Census bureau figures available and the foundation for the WorldCity projections. No. 3 New York showed growth of 4.8 percent, meaning its exports will have to increase on average 17.6 percent the next four years.
Florida, which will surpass Washington to become the nation’s No. 4-ranked exporting state, is showing an increase of 7.4 percent through November. Washington’s exports are down 8.5 percent through November, meaning its rate will have to average 21.7 percent the next four years. Washington’s leading export is Boeing jets, expensive items that, with a surge in demand, could put the Pacific Coast state back on track.
Rounding out the Top 10 are No. 6 Illinois, where exports were up 8.8 percent through November; followed by No. 7 Michigan, where exports are up almost 25 percent; Ohio, 10.5 percent; Louisiana, 12 percent; and No. 10 Pennsylvania, up 12.5 percent. Texas exports are up 14.9 percent through November.
At the current rate, U.S. exports will fall about $425 billion short of doubling by 2014, according to WorldCity projections. The Obama Administration has recently announced efforts to streamline the export process by limiting the number of U.S. manufactured goods subjected to restrictions based on potential military uses and has resolved issues with the long-dormant free trade agreement with South Korea. Two other FTAs remain more dormant, ones with Colombia and Panama.