State sees significant growth in exporting goods
Gov. Lincoln Chafee announced Tuesday that 2012 was another positive year for Rhode Island exports. Rhode Island is one of 29 states recognized by the U.S. Department of Commerce’s International Trade Administration as having achieved record export growth in 2012. The state recorded 4.1 percent growth from 2011 to 2012, totaling $2.4 billion in total export value.
The overall growth rate over the past three years is 60 percent, and Rhode Island has significantly outpaced overall increases over that time period. Exports are a considerable driver of job growth, as it has been estimated that one job is created for every $200,000 in exports.
Additionally, the growth in exports has continued into 2013, with January figures showing a 26.75 percent increase in exports during that month.
In 2012, the greatest growth occurred among exports of chemicals, machinery, computer electronics and textiles. Exports of these products were up 10 to 14 percent. The only sector experiencing lower value growth was scrap and waste, where tonnage shipped remained steady but the overall market value of the materials themselves declined.