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New Hampshire
exports eased in January but continued to do better than a year ago.
Following a spectacular three-month string at the end of 2003, exports of
locally made goods dropped $15.1 million in January, or 8.2 percent, from
December. New Hampshire’s January exports totaled $169.8 million.
Despite the January decline, the state’s exporters shipped abroad $28.2
million, or 19.9 percent, more locally produced goods than January 2003.
January shipments to Canadian businesses north of the border fell $3 million
from a year ago. But exports to Japan — the state’s second largest
international market — were $3 million more than in January of 2003. Foreign
sales to the three major European buyers of New Hampshire goods — Germany,
the United Kingdom and the Netherlands — increased $8 million compared to
January of last year.
The strengthening of the Euro against the dollar has made New Hampshire’s
goods more attractive to European buyers.
In January, exported manufactured goods declined $12.4 million from
December, for a total of $143.6 million. However, they were about $10
million higher than a year ago.
Exports of non-manufactured goods — agricultural and mining products — rose
$0.7 million to $11.4 million in January. Finally, re-exports, which are
foreign merchandise that entered the state as imports and now are exported,
totaled $14.8 million in January.
At the national level, monthly exports, seasonally adjusted, fell 1.7
percent in January to $61.9 billion, reflecting mainly weaker demand for
food products.
Foreign sales of meat and poultry declined 40 percent to $379 million, the
lowest level since November 1993, because the mad cow disease in the United
States halted beef exports to many countries.
Maine also retreats
Following record export totals in the fall, Maine’s exports were weak in
January, falling for a second month in a row.
Shipments abroad from Maine’s companies dropped $11.1 million in January, or
6.4 percent, from December. January’s exports totaled $162.1 million. In
comparison to a year ago, the state’s exporters shipped abroad $14.0
million, or 8 percent, less locally produced goods than in January 2003.
Exports of manufactured goods declined $4.6 million from December, to $129.6
million in January. Exports of non-manufactured goods — agricultural and
mining products — also fell $5.8 million to $29.0 million in January from
the previous month. Finally, re-exports totaled $3.5 million in January.
January’s export weakness was led by a 52 percent drop in fish and seafood
products, which account for 16 percent of all state exports, to $8.3 million
from $17.3 million in December.
Strong electrical machinery exports, which account for one-fourth of all
state exports, offset some of these steep declines.
State exporters of electrical machinery, mainly integrated circuits, sold
abroad $5 million, or 10 percent more than in December, the result of strong
recovery in high-tech global demand. Also, Maine’s exports of wood products
increased in January by $4.3 million, or 23 percent, to $24 million.
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