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Massachusetts and New Hampshire
exports declined in November, but both states showed substantial growth in
exports to China during the first 11 months of last year.
Overseas sales of Massachusetts-made products had been falling in the second
half of 2004 and suffered another setback in November, in line with the
sharp drop in national exports that caused a record U.S. trade deficit.
After rising in October by 3.5 percent, Massachusetts company exports
dropped $85.2 million, or 4.7 percent, in November to $1.727 billion. The
numbers are adjusted for seasonal variation,
In year-over-year comparison, Bay State companies shipped 4.1 percent more
goods abroad this past November than in the same month in 2003.
Exports of manufactured goods accounted for 88 percent of all the state's
sales abroad in November.
Foreign shipments from Massachusetts factories fell in November by 5.6
percent. Sales abroad from Massachusetts manufacturers last November were
$36.2 million, or 2.4 percent, higher than in November 2003.
However, exports of non-manufactured goods went up 2.5 percent in November to
$209.9 million. Non-manufactured goods are agricultural, mining products and
re-exports, which are foreign goods that entered the state as imports and
are exported in substantially the same condition.
Consumers and businesses from China, the world's second-largest economy,
bought $783.1 million worth of goods made in Massachusetts in the first 11
months of 2004.
Massachusetts exports to China ranked 13th among the 50 states.
Exports to China from Massachusetts increased by 51.1 percent from the same
11-month period in 2003. At the same time, worldwide exports from
Massachusetts rose 16.7 percent.
The last seven years have seen rapid growth in exports to China. As China
grows about three times more rapidly than industrial economies, it becomes
the fastest growing market in the world for products made in other countries
and, as a result, an important and vital export market for Massachusetts'
companies.
New Hampshire
After a 5.3 percent decline in October, exports of goods from New Hampshire
companies held almost steady in November, edging down by $1.7 million, or
0.8 percent, to $199.1 million.
Exporting companies from the Granite State shipped 6.8 percent more goods
abroad in November than in the same month a year earlier, an increase
of$12.7 million.
Foreign shipments of manufactured goods -- which accounted for 79 percent of
all exports -- fell in November by 5.5 percent from the previous month, to
$157.2 million.
Exports of non-manufactured goods went up 21.7 percent in November to $42
million.
In the first 11 months of 2004, consumers and businesses from China bought
$94.4 million of goods made in New Hampshire.
The Granite State ranked 20th last year in states' exports to China.
Compared to the same period in 2003, exports to China from New Hampshire
increased by 39.7 percent. At the same time, worldwide exports from New
Hampshire rose 19 percent. New Hampshire's exports to China grew twice as
fast as exports to all countries combined.
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