Merchandise exports from the Seattle-Tacoma-Bellevue metro area rose 13 percent last year to record $56.7 billion, according to new data from the International Trade Administration of the U.S. Department of Commerce. That ranked the area No. 4 nationally behind Houston, New York and Los Angeles. Not surprisingly, Houston’s big showing was heavily powered by oil and chemicals.
Elsewhere in the Northwest, metro Portland came in at No. 20 out of the top 50 largest goods exporting metropolitan areas.
The oddity of the report is that the value of transportation equipment (read airplanes and components) was withheld — in one portion of the report the word “suppressed” is used. But it had to be the largest component. Other big sectors for Seattle-Tacoma-Bellevue were computers and electronic products; fishing, hunting and trapping, and machinery.
King County was the origin of $52 billion in goods exports, followed by Snohomish at $2.9 billion and Pierce at $1.8 billion. The Seattle MSA accounted for 79 percent of Washington’s exports and involved more than 5,600 companies. China remained the biggest customer, followed by Japan, Canada and Hong Kong.
You can read the entire report here.
Wednesday Reading: What Eric Cantor will really do on Wall Street | NY Mag
Today’s Econ Haiku:
Oil train protesters
Did they drive to the event?
That’s crude irony