Yellowhammer Times

While full-year results are not yet available for 2022, trade data show that Alabama exports approached $23.4 billion in value through November — a figure that already eclipses the annual record of $21.7 billion, set in 2017.

That’s good news for Alabama businesses that export their products to an international customer base because it suggests the strong recovery made during 2021 is accelerating.

“Alabama is full of next-level innovation taking place in key industries, and we’re ready to bring what’s happening inside our factories and laboratories, and within our entrepreneurial ecosystem to the world,” said Greg Canfield, Secretary of the Alabama Department of Commerce.

Trade data show Alabama's 2023 exports approached $23.4 billion in value through November, eclipsing the annual record of $21.7 billion, set in 2017. (Image: Alabama State Port Authority)

Led by Mercedes-Benz, motor vehicles are Alabama's No. 1 export. (Image: Mercedes)

Trade data indicate that the value of Alabama exports through the first 11 months of 2022 were tracking 23% higher than in the same period in the previous year. Shipments of Alabama-made goods went to 194 countries in 2022.

‘SUSTAINED GROWTH’

“Alabama’s competitiveness on the international stage is key to accelerating the state economy.” 

Alabama’s No. 1 export category, transportation equipment, maintained a strong performance during the first 11 months of 2022, reaching nearly $10.4 billion, a gain of 8.4%. The category includes motor vehicles and parts, aerospace products and parts, and ships, among other things.

Exports of Alabama-made vehicles approached $8 billion in the time frame, while overseas shipments of aerospace parts rose 31% to exceed $1.6 billion, according to Commerce data.

Many of Alabama’s top export categories showed robust upticks during the first 11 months of 2022, including:

Chemicals ($2.5 billion) — up 22%

Minerals and ores ($1.9 billion) — up 194%

Primary metals ($1.5 billion) — up 24%

Paper ($1.4 billion) — up 35%

Christina Stimpson, director of Commerce’s Office of International Trade, said broad-based gains for Alabama exports is good news for companies back home because it triggers increased production, new investment and job creation.

“Alabama’s vibrant export community has overcome significant challenges in the past few years, and it’s positioned for sustained growth because its high-quality products are in demand around the world,” Stimpson said.

“For companies ready to forge ahead on a new path and discover the benefits of exports, the members of Export Alabama are always available as a resource for collaboration and guidance in this process,” she added.

Germany — the No. 1 international destination for Alabama goods in 2021 — remained the top destination for Alabama exports for the first 11 months of 2022, with shipments valued at nearly $3.9 billion.

Other leading export destinations during the period were Canada, China, Mexico and South Korea, according to Commerce data.

EXPORT ALABAMA

Commerce’s Office of International Trade and its partners in Export Alabama assist Alabama companies in accessing foreign markets to increase international sales, providing trade education and training opportunities, and organizing international trade missions and shows for Alabama firms to identify opportunities in foreign markets.

To help companies succeed in the global marketplace, Export Alabama provides comprehensive international trade services, all on a confidential basis.

Some services available to Alabama companies include advocacy, export education workshops, export finance assistance, identifying foreign distributors and buyers, international market research, and trade missions.

“Export Alabama plays a vital role in connecting companies with the experts, tools, and resources they need to access foreign markets and compete globally,” said Michael Brooks, associate director of the Alabama International Trade Center at the University of Alabama.

“Alabama’s competitiveness on the international stage is key to accelerating the state economy; companies that export tend to hire more people, pay higher wages, and are more resilient in economic downturns,” he added.

To better reach the state’s export-minded businesses, Export Alabama is today launching a new web presence that features resources, helpful advice, success stories and contacts.

Original source can be found here.