Governor M. Jodi Rell today announced that Connecticut exports closed out calendar 2008 at a total of $15.31 billion, an increase of almost 11 percent from the 2007 total.
"There weren't many positives about the state of our economy in 2008, but exports have been a true strength for Connecticut throughout an otherwise grim year," Governor Rell said. "This has been true for the last several years as well. With an economic slump taking its toll not only in our nation but around the world, we cannot be certain whether the trend will continue in 2009 - but we do know that Connecticut's businesses and workers are proving to be some of the most innovative and resilient anywhere during one of the harshest economic climates on record.
"Connecticut's work force delivers high-quality products that can compete in any market," the Governor said. "There are companies as close as the next state border and as far away as the other side of the globe that envy our export success. Our goal now - and in the future - is to ensure that our state is positioned to continue our record of success by keeping a business-friendly climate and making smart, targeted investments that enhance the ability of our employers to meet global challenges."
Data supplied by the World Institute for Strategic Economic Research shows Connecticut exports have been growing steadily - $8.1 billion in 2003; $8.6 billion in 2004; $9.7 billion in 2005; $12.2 billion in 2006; and $13.7 billion in 2007.
Connecticut's top trade partners continue to be Canada, France, Germany, Mexico and the United Kingdom. Although Canada remains the state's top trading partner, exports decreased slightly by 2.38 percent. Industrial machinery comprised the greatest segment of exports, at $6.2 billion. Aircraft and spacecraft parts, electric machinery, optic, photo and medical instruments, and plastics rounded out the top five export sectors.
