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Daily Court Reporter - News Ohio exports fell 3.9 percent last year

 

Ohio exports fell 3.9 percent last year

RICK ADAMCZAK, Daily Reporter Staff Writer

Exports from Ohio slipped slightly last year due in no small part to an 8.1 percent drop in exports of automobiles and auto parts.

Firms shipped $49.1 billion worth of goods from Ohio last year, which was 3.9 percent less than the previous year, according a report from the Ohio Development Services Agency.

By comparison, the United States experienced a decrease of 3.3 percent in exports from 2015 to 2016.

It's the second straight year exports from Ohio have declined, but Ohio remains the eighth largest exporting state.

The value of exports is down 6.6 percent over the past two years, from $52.6 billion in 2014 to $49.1 billion last year.

The five biggest exporting categories all fell last year.

Ohio's biggest export - industrial machinery, including computers - slipped 2.1 percent last year from $9.2 billion in 2015 to $9 billion in 2016.

Ohio ranks fourth in value of industrial machinery exported and exports 5 percent of the nation's industrial machinery.

But Ohio exports have recovered nicely since the end of the recession. Even with the slight declines over the past two years, exports are up more than 40 percent since 2009.

Other categories suffering drops in exports include aircraft, spacecraft and parts; electronic machinery and television equipment; and plastics.

The top six categories account for 60 percent of the state's exports.

Agriculture, however, was a bright spot.

Soybean exports rebounded 21.2 percent last year, from $1.7 billion to $2 billion after falling some from 2014 to 2015.

Fifty-four percent of Ohio's oil seed exports were sent to China, followed by 11.6 percent to Mexico.

Overall, Canada remains the most popular destination for Ohio exports.

Exports to Canada totaled $19.1 billion, 39 percent of the state's exports. By comparison, U.S. exports to Canada were 18 percent of the national total.

Shipments to Mexico, Ohio's second largest market, totaled $6.5 billion, which was a 3 percent decrease from 2015.

European countries accounted for 16 percent of Ohio's exports.

The four largest markets were the United Kingdom ($1.9 billion), German ($1.3 billion), France ($1.2 billion) and The Netherlands ($0.7 billion). Total shipments to Europe decreased 10 percent in 2016.

Asian countries received 14 percent of Ohio's shipments.

Shipments to China increased 11 percent last year to $3.7 billion worth of goods. Japan was Ohio's fifth-largest market at $1.6 billion.

Exports to Southeast Asia accounted for 5 percent of Ohio's exports.

Eight countries received more than $1 billion worth of Ohio goods.

Overall, 213 countries and territories received exports from Ohio last year.

Canada, Mexico and China are the biggest importers of U.S. goods.

More than 260,000 jobs are supported by exports from Ohio, according to the U. S. Department of Commerce, and 92 percent of those jobs were supported by manufactured goods exports.

Eighty-nine percent of Ohio's exporters are small and medium-sized firms, which account for 24 percent of the total value of goods exported from Ohio.

Exports from the Columbus region rank third amount metro areas in Ohio for exports.

Columbus exporters sent $6.2 billion worth of goods to other countries in 2015, according to the Commerce Department.

Cincinnati is by far the biggest exporting region, exporting $24.1 billion worth of goods, followed by Cleveland, which sent $9.6 billion worth.

Texas, due to its large amount of oil exports, is the biggest exporting state, sending out more than $232.5 billion worth of goods.

California is second, with $163.6 billion worth of exports.

Washington, largely due to it's big aircraft exports, is third, with $79.6 billion worth of exports.

Date Published: May 29, 2017

 

Copyright © 2017 The Daily Reporter - All Rights Reserved

 

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Ohio exports fell 3.9 percent last year

Exports from Ohio slipped slightly last year due in no small part to an 8.1 percent drop in exports of automobiles and auto parts.