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Jon Talton

Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.

February 11, 2015 at 11:12 AM

State exports up in 2014, capping impressive decade

Washington’s merchandise exports totaled more than $90.6 billion last year, compared with $81.6 billion in 2013. The year’s total is more than 140 percent higher than the value of merchandise exports in 2004, adjusted for inflation. The data come from the International Trade Administration of the U.S. Commerce Dept.

China continued to widen its lead as Washington’s largest merchandise export customer, followed by Canada, Japan, the United Arab Emirates, UK, South Korea and Mexico.

Washington moved up one position, past New York, to become the nation’s third largest merchandise exporter last year, based on value. In 2005, the state ranked No. 8.

Transportation equipment, primarily airplanes and parts, represented more than 57 percent of the exports’ value, followed by agricultural products at 12.9 percent, petroleum and coal products at 4.8 percent, and computer and electronic products at 4.3 percent.

The performance is impressive on two fronts. First, exports to China continued to grow amid a generally slowdown there. Second, Washington merchandise exports increased year-over-year each year but one over the past decade.


Today’s Econ Haiku:

Defense procurement

Makes Bertha look like Apple

Would mergers fix that?


 

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