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Maine state exports increase
Following two consecutive monthly declines at the end of 2004, foreign sales
abroad of goods made in the Pine Tree State edged up slightly to $180.7
million in January, adjusted for seasonal variation.
In January, state companies shipped abroad 1.1 percent more goods than in
January of 2004.
Although Maine companies do not have a strong presence in euro-area markets,
they reaped the benefits of the rising euro in the last three years. In
January, $21.4 million of goods made in Maine were sold to euro buyers; more
important, this export volume was 43.9 percent higher than in January of
2004. Foreign shipments of goods from Maine to the euro area accounted for
13 percent of all state exports in January, compared with the national
average of 16 percent.
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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
Copyright © 2005 Foster's Online
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