Arkansas Exports Rise 7% In 2011

Arkansas export growth has been on the rise for more than a decade. New statistics show that in 2011 the state’s exports grew at a healthy 7% clip.

According to new data released by the International Trade Administration (ITA), Arkansas exports rose to $5.6 billion in 2011 compared to $5.2 billion in 2010.

The ITA also reported that it estimates 85% of world economic growth in the next 5 years will take place outside of the U.S.

“Companies of all sizes across Arkansas are finding export opportunities, and many more have the potential to do so,” said Patricia Gonzalez, Director of the U.S. Commercial Service in Arkansas.  “If you can do business in the United States, one of the world’s most open and competitive markets, you’re a likely candidate for doing business overseas.”

Arkansas’ 2011 merchandise export sales increased to several countries.

The main merchandise export categories included food and kindred products, transportation equipment, chemicals, machinery, and agricultural products.

Exports to Australia rose 92%, 81% to France, 63% to Singapore, 35% to Korea, and 25% to Mexico. Canada and Mexico are top export countries for Arkansas products.

Gov. Mike Beebe is planning a trade mission in April to China, where he is expected to work on export opportunities for Arkansas companies. The China trip will also include recruiting potential businesses to Arkansas.

On a related note, applications for the Governor’s Award for Excellence in Global Trade are now open. The award recognizes the importance of international trade on Arkansas’s economy. Gov. Beebe will present the third annual awards on May 23, 2012 during a luncheon at the Governor’s mansion.

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