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Source: infometrica.com
Foreign sales of goods from Silver State companies, adjusted for seasonal
variation, surged $40.1 million, or 13.8 percent, in December, to $331.3
million, following a 7.4 percent rise in November.
December’s reading was the highest monthly level since state exports data
first was recorded in 1987.
Compared with international shipments a year ago, Nevada exporters sold
$137.7 million worth of goods abroad in December — an astonishing 71.1
percent more goods than a year earlier.
For the full 2004 calendar year, state exports soared by $871 million, to
$2.9 billion, the highest level on record.
Last year’s sales abroad are the result of the improvement in global
economic conditions and the fall in the dollar’s value. A weaker currency
makes locally produced goods less expensive and consequently more
competitive internationally.
Source: infometrica.com
Demand for manufactured goods drove overall sales from Nevada’s exporting
companies.
Last December, foreign shipments from Silver State factories accounted for
82 percent of all sales abroad.
Exports of manufactured goods rose sharply in December, by 9.7 percent from
the previous month, to $272.9 million, adjusted for seasonal variation.
At last December’s mark, exports of manufactured goods were $120 million, or
78.5 percent, higher than a year earlier.
Was 2004 a good year for state manufacturers doing business abroad and,
consequently, factory jobs tied to exports?
For the entire year, exports of goods made in Nevada surged by 43.2 percent
from 2003, to a record high of $2.3 billion.
For the nation, exports of manufactured goods rose 11.3 percent, to their
highest annual level on record.
Exports of non manufactured goods went up 37.4 percent in December, to $58.4
million.
That group of shipments abroad consists of agricultural goods, mining
products and re-exports — foreign goods that entered the state as imports
and are exported in substantially the same condition as when imported.
Source: R. Rodriguez, J. Kurowski/Reno Gazette-Journal
In a state perspective, how did Nevada’s exporters fare in selling their
products abroad during 2004?
The Silver State’s export performance translates to an annual growth rate in
foreign sales of 42.9 percent for 2004, compared with a gain of 72.7 percent
in 2003.
As a result, Nevada ranked second among the 50 U.S. states in export growth
last year.
In a global perspective, U.S. exports of goods rose by 13.2 percent during
2004, about three times faster than the prior year, hitting the highest
annual level on record.
For the world’s 23 major industrialized countries, the combined volume of
their exports is estimated to have jumped by 15.6 percent in 2004.
Nevada exporters outperformed all industrial countries and the nation in
export growth last year.
In a global perspective, U.S. exports of goods rose by 13.2 percent during
2004, about three times faster than the prior year, hitting the highest
annual level on record.
For the world’s 23 major industrialized countries, the combined volume of
their exports is estimated to have jumped by 15.6 percent in 2004.
Nevada exporters outperformed all industrial countries and the nation in
export growth last year.
What is the global economic outlook for 2005, which will determine
international trade and ultimately the demand for goods made in Nevada?
Forward-looking indicators signal that outlook — vital to export-related
jobs in Nevada — is expected to improve during the next three quarters.
The Organization for Economic Cooperation and Development, a highly
respected Paris-based think-tank whose members include the world’s 30
richest countries, reported that its composite leading economic indicator
shows improved performance in its recent reading.
In particular, OECD’s early warning indicator for the most advanced
countries in the world — which tracks economic conditions nine months in
advance — rose again in December.
More important, the indicator’s annual growth rate — designed to provide
early signals of changing directions in global economic activity between
expansions and slowdowns — accelerated for a second month in a row.
Those new numbers confirm the general view that the global economic
expansion will continue this year.
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