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Pennsylvania Exports for 2010 Set to Beat
Pre-Recession Levels
The value of Pennsylvania exports grew by 22.8% through the end
of the third quarter of 2010, reaching $25.9 billion, as reported
by the World Institute for Strategic Economic Research (WISER).
Following an 18% increase in Pennsylvania shipments to global
markets in 2008, exports declined by a similar amount in 2009
due to the global economic down turn. The rate of recovery in
2010 puts the Commonwealth’s exports on pace to exceed $34
billion marking a return to pre-recessionary levels by the end of
the year. Among the Commonwealth’s top export sectors,
exports of chemicals rose 32.3% ($5.9 billion), transportation
equipment climbed 44% ($2.3 billion) and shipments of minerals
and ores (excluding coal) jumped a staggering 220% ($1.3
billion).
Two European markets led the pack as some of Pennsylvania’s
fastest growing exports markets: The United Kingdom, rising 155%
from last year to $957 million and Ireland, up 300% to $550
million. Pennsylvania’s largest export markets also showed
marked increases: Canada (+ 23%); China (+14.7%), and Mexico
(+68%). Pennsylvania has more than 12,000 exporting companies
and it remains among the top 10 largest exporting states in the
country.
Trade Mission
to Czech Rep. & Slovakia
May 23 – 27, 2011 Prague and Bratislava
The
Czech Republic boasts one of the region’s most prosperous and
industrialized economies. There is high demand for U.S. products
and services, which are known for their good quality and advanced
technology. The Czech Republic has become a major hub for
automotive and electronics manufacturing in Central Europe. Best
prospect sectors for U.S. exports are:
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Power
Generation Equipment (includes renewable energy)
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Automotive
Parts and Equipment
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Electronics
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Medical
Products
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Environmental
Technologies
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Telecommunications
and IT Equipment
The Czech
government’s recent decision to support the expansion of
nuclear power generation should create opportunities for the
U.S. nuclear industry, which has been active since shortly
after the Velvet Revolution. In addition, the Czech Republic’s
inclusion in November 2008 in the Visa Waiver Program has
boosted the U.S. travel and tourism sector through much greater
numbers of Czech visitors.
Slovakia is a
country of 5.4 million strategically located at the geographic
heart of Europe. The Slovak market is increasingly dominated by
the automotive, electronics, engineering, tourism and service
industries. Slovakia adopted the euro as its currency on January
1, 2009 and became the 16th member of the Eurozone, resulting in
the facilitation of trade through lower transaction costs, higher
pricing transparency and greater monetary stability. Major U.S.
exports to Slovakia include nuclear reactor technologies,
electrical and electronic machinery and parts, optical and
medical instruments, automobile parts and aftermarket products
and chemical products
Pennsylvania’s Center for Trade Development
(CTD) invites you to join a business development mission to the
Czech Republic and Slovakia. For additional information and
registration requirements please click
here.
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