Wednesday, July 14, 2010

Oregon's domestic and foreign exports

Thanks to its coastal location, Oregon has a history of exporting valuable products to foreign markets. In an economy that's increasingly going global, data about foreign exports get plenty of attention.

Asian countries are major players on Oregon's roster of international customers, but Canada received the highest value of shipments from the state in 2008. Total exports increased to $19.3 billion as shipments surged to Asian countries. Estimates from the federal government suggest that foreign trade supported close to 8 percent of Oregon's private-sector employment in 2008. In 2009, exports fell to $14.9 billion and China became the largest recipient of Oregon's goods, buying nearly $3 billion worth.

But don't forget about domestic exports! In 2007, Oregon shipped goods worth more than $147 billion to domestic buyers. That's roughly $63 billion in products that traveled around the state, $19 billion shipped to California, $22 billion to Washington, and more than $40 billion to other states.

Oregon has valuable trade networks both at home and overseas, but domestic customers are by far the largest source of sales.

Read more in the full article, written by Regional Economist Erik Knoder ( 541-265-8891).

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