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Weaker dollar boosts Maine exports

by Evangelos Otto Simos

SPECIAL to Foster's Sunday Citizen on December 5, 2004  

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::  State Exports Maine
 
 
Maine exports

International sales from Maine’s companies surged 23.8 percent in September, a strong rebound from a 17.4 percent decline in August, The latest snapshot in international trade activity brought state exports of goods to $180.9 million, adjusted for seasonal variation, which is $34.8 million more than in August.

Led by strong demand from Malaysia and Singapore, foreign sales from Maine’s companies improved on an annual basis too. In September of 2004, state exporters shipped abroad $7.9 million, or 4.6 percent, more goods than in September of 2003.

September’s exports were largely driven by manufactured goods, which accounted for 80 percent of all state exports. Foreign shipments from manufacturing companies rose sharply in September by 19.9 percent from the previous month to $144.2 million, adjusted for seasonal variation. Compared to last year, sales abroad from state factories were $23.8 million, or 4.6 percent, higher than in September of 2003.

  Evangelos Otto Simos, chief economist at the consulting and research firm Infometrica Inc., is editor for International Affairs in the Journal of Business Forecasting and professor and chair of the Economics department at the University of New Hampshire.

Simos can be reached at: eosimos@infometrica.com

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