PA Exports Fell 7 Percent in 2016
Central Penn Business Journal has reported that Pennsylvania exports fell more than 7 percent last year as companies shipped fewer goods to eight of the commonwealth’s top 10 global markets compared with 2015, according to the International Trade Administration.
Last month, the ITA reported about $36.6 billion in state exports, down from $39.4 billion in 2015.
Global economic challenges and a strong U.S. dollar have been hurting state exports. The commonwealth started 2016 with a 10 percent drop in exports in the first quarter.
Still, exports to China and South Korea posted increases for the year. Exports to China, the commonwealth’s No. 3 trade partner, totaled more than $2.2 billion in 2016, up from about $2.1 billion in 2015, according to the ITA.
Exports to South Korea were nearly $1.1 billion, up from about $916 million in 2015. South Korea was No. 9 among trade partners in 2016.
Canada and Mexico are the top countries receiving Pennsylvania goods. Canada received more than $9.9 billion in goods last year from commonwealth companies, down from $11.7 billion, while goods shipped to Mexico totaled about $3.7 billion, down from about $4.2 billion in 2015.
Commonwealth exports have been on the decline in recent years after a record $41.2 billion in 2013. The ITA reported Pennsylvania exports of $40.4 billion in 2014 and $39.4 billion in 2015.
The top three export categories in Pennsylvania are chemicals, which accounted for nearly 21 percent of 2016 exports, transportation equipment and machinery. The latter two categories accounted for about 10 percent each.
By comparison, U.S. exports were down more than 3 percent last year, according to the ITA. Pennsylvania is 10th among states for total exports.
