The state of Georgia experienced its fourth consecutive record year for international trade in 2012, surpassing 2011 milestones in both imports and exports, according to information released this week by the Georgia Department of Economic Development.
Based on U.S. Census Bureau statistics released this month, the state’s exports were up 3.2 percent — a $1.1 billion increase — compared to 2011. The total value of goods exported from Georgia totaled $35.8 billion, the most the state has ever exported in a single year and an indication that Georgia companies are aggressively pursuing international markets.
Since the announcement of the National Export Initiative in 2009, exports from Georgia have grown 51 percent.
“These figures are a good sign for Georgia’s economy,” said Chris Cummiskey, commissioner of the state economic development office. “Last year, companies in 79 percent of Georgia counties utilized our international trade services to expand their markets and strengthen their businesses.
“With the fastest-growing port in the country and a world-renowned international airport, Georgia already has the resources in place to provide a multitude of opportunities for exporters.”
Georgia retained its ranking as the nation’s 12th leading U.S. state in dollar value of exports. Canada, China, Mexico, Singapore and Japan remained Georgia’s top five export destinations — together accounting for 42 percent of the state’s exports.
Canada alone accounted for 18 percent of Georgia’s exports. The United Kingdom moved to sixth on the export destination list, up from eighth in 2011. Germany dropped to Georgia’s seventh leading export market.
Among Georgia’s top 10 export destinations, which accounted for 56 percent of the state’s total exports, the largest increases in exports were to Mexico, China, Australia and the United Kingdom.
By region, Georgia’s leading export destinations were Asia at 35 percent, North America at 29 percent and Europe at 22 percent.
Machinery, vehicles, wood pulp lead way
Georgia’s leading export industries ranked by dollar value were non-electric machinery — mostly JCB and Caterpillar machinery — aircraft/spacecraft, non-railway vehicles, electrical machinery and wood pulp. These five industry sectors accounted for 52 percent of Georgia’s exports; while the top 10 industry sectors accounted for 71 percent.
Georgia exports of non-electric machinery in 2012 grew 13 percent to $5 billion, accounting for 16 percent of the state’s total exports. Georgia’s meat industry grew by 21 percent in 2012, an increase of more than $220 million.
Georgia led all other U.S. states in the export of meat and poultry products; chemical wood pulp, soda or sulfate; cotton; kraft paper & paperboard; chemical wood pulp, dissolving grade; carpet; kaolin; and peanuts.
At the Port of Savannah, wood pulp was the largest and fastest growing export commodity, increasing by nearly 18,000 containers — or 11 percent — in fiscal 2012. Savannah is by far the leading exporter of poultry in the country.
“Exporting creates twice as many jobs as domestic trade. For every job created in making the product, another job is created in getting the product to market,” said Kathe Falls, director of trade for the state department of economic development, adding the, “It’s not just for the ‘big guys’. In Georgia, 50 percent of the companies helped by our department have 30 employees or less.”
Imports continue to climb
The state’s imports outpaced exports by approximately $36.5 billion. Georgia companies imported more than $72 billion in goods in 2012, an increase of 8 percent — or $5.4 billion — over 2011.
Georgia ranked ninth among U.S. states and second in the Southeast in dollar value of imports. Among U.S. states, Georgia ranked first in dollar value of imports from Germany and Chile, third in imports from South Korea and Thailand, and fifth in imports from Malaysia.
These top five import countries accounted for 60 percent of Georgia’s imports. Among the state’s 10 largest importer nations, the largest increase was from South Korea, followed by Germany and Japan.
Savannah’s top imports are furniture, toys, housewares, hardware, apparel, auto parts and other consumer goods mostly from Asia — China, Japan, Korea, Vietnam and India.
Imports from Germany are mostly machinery, specialty paper and chemicals, as well as auto parts.
Among U.S. states, Georgia ranked first in dollar value of imports from Germany and Chile, third in imports from South Korea and Thailand, and fifth in imports from Malaysia.
Georgia’s International Trade Office is a part of the Global Commerce Division of the Georgia Department of Economic Development. With the support of the state’s 10 international representatives, the trade office helps Georgia manufacturers and professional service providers increase exports, and promotes trade with Georgia in key global markets.