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Sluggish economic conditions in continental Europe, Japan and Canada have
not been enough to derail the expansion of foreign sales by New Hampshire
companies.
 Vigorous growth in the rest of the world — particularly in Asia and Latin
America — combined with a weak dollar have sustained a strong global
appetite for goods made in New Hampshire, which fuels company sales and
generates export-related jobs.
In April, exports of goods from the Granite State rose $8.3 million, or 4.3
percent, to $201.6 million, adjusted for seasonal variation.
On an annual basis, the latest appraisal shows that New Hampshire's
companies surpassed their performance in comparison to a year ago. In April
of this year, state exporters shipped abroad $33.4 million, or 19.9 percent,
more goods than in April 2004.
Manufactured goods played a key role in April's trade performance by
contributing 81 percent of all state exports.
Manufacturing companies that export not only increase their sales, but also
generate new jobs. There is a significant link between state exports of
manufactured goods and export-related jobs in the Granite State. Exports of
goods from plants in New Hampshire supported an estimated 17,500
manufacturing jobs in April. A year ago, there were 17,300 jobs tied to
exports. Consequently, export activity of state manufactures generated a
gain of 200 manufacturing jobs from last year in the state.
In April, 10,700 factory workers in New Hampshire were directly supported by
exports, and 6,800 additional factory jobs were tied indirectly to exports.
Manufacturing activity triggers ripple effects in a wide range of other
industries. For instance, a foreign sale requires transportation of goods to
a port of exit such as a seaport or airport and the involvement of a bank
for the completion of an international foreign exchange transaction.
Accordingly, April's exports of manufactured goods generated another 18,100
jobs in non-manufacturing.
Foreign sales of non-manufactured goods went up 26.5 percent in April to
$38.3 million, adjusted for seasonal variation. This consisted of
agricultural goods, mining products, and re-exports which are foreign goods
that entered the state as imports and are exported in substantially the same
condition.
For the country as a whole, U.S. exports of goods, seasonally adjusted, rose
to a record $74.5 billion, a 4.2 percent jump from March.
The April record performance in national exports was a major contributor to
economic growth and jobs. So far this year — January to April — U.S. exports
registered $288 billion, an 11 percent surge from the same period in 2004.
New Hampshire ranked 32nd in export growth among the 50 states so far this
year. The ranking is lower than may be expected based on the recent month's
solid performance. In the first two months of this year, New Hampshire state
exports declined while most of the other states experienced growth.
Fortunately, New Hampshire is catching up.
Maine exports slipping
Exports from the Pine Tree State rose $4.6 million, or 2.6 percent, in April
to $180.8 million.
On an annual basis, Maine's companies fell slightly behind their performance
in comparison to a year ago. In April of this year, state companies shipped
abroad 1.9 percent fewer goods than in April 2004.
April's increase in exports was not broad-based. Manufactured goods, which
accounted for 76 percent of all Maine exports, fell in April by 3.1 percent.
However, exports of non-manufactured goods soared 26.2 percent in April.
Leading industries in April's surge of agricultural goods were prepared meat
and fish products, fruits and nuts.
Overall, forward-looking indicators point to an improving outlook for
exports. According to a recent monthly foreign trade survey conducted by the
Bank of Tokyo-Mitsubishi the prospects for shipments abroad are favorable.
Thirty-three percent of surveyed experts expect exports to be higher over
the next three months.
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