Export sales by Idaho companies grew by more than 3 percent from the third to fourth quarters of 2009, totaling $1.12 billion for October to December. Nationally, exports for the same period were nearly flat, at less than 1 percent growth.
Idaho export results in the fourth quarter increased by 5 percent from a year earlier.
“Idaho’s export results for the fourth quarter and for the year mirror the national economic conditions,” Damien Bard, administrator of the international division of the Idaho Department of Commerce, said in a release. “The growth shown in the last two quarters provide positive signs of an ongoing return to export health.”
Exchange rates are one factor in economic conditions that remain favorable for Idaho exporters, he later said in an interview. The semiconductor industry, which accounts for a large percentage of Idaho exports, remains down but is showing some signs of recovery, he said.
International sales of Idaho products for 2009 were down 22 percent compared to 2008’s record high, with U.S. exports down nearly 18 percent for the year, the Idaho Department of Commerce said. Significant declines in exports during the first three quarters of 2009 mean Idaho is still behind in its year-to-date results compared to 2008, when the value of state exports set a record at more than $5 billion for the full year. Idaho exports for 2009 totaled nearly $3.9 billion.
The top Idaho export category continues to be semiconductors, but exports of industrial equipment, precious metals, mineral concentrates, poultry and dairy products, fruit and seeds also grew during the fourth quarter.
The top export destinations for Idaho goods in 2009 were: Canada, Taiwan, China, Singapore and South Korea. In 2009, Idaho exported products to 150 countries.
Idaho companies export products ranging from integrated circuits to musical instruments to fresh produce. Idaho maintains trade offices in Taiwan, Mexico and China.
Source:IBR
