us meltdown 101 trade by the numbers 111309
On the homepage
Vikings
Out There
Pardon Board
Petters
Meltdown 101: Some signs of strength for US exports even as trade deficit rises
Print this story
E-mail this story
Save to del.icio.us
Share on Facebook
Share on Digg
Minnesota business by the numbers
See Minnesota's top earning companies, CEOs and non-profits
More from Business
The trade deficit might have widened in September, but try telling that to U.S. jewelry makers, loggers and machine manufacturers who have customers in other countries.
U.S exports rose in September, making steady gains across economic sectors. That strength was hidden by a surge in oil imports, which helped widen the trade deficit for the month. Still, exports jumped 2.9 percent to $132 billion in September as factories sold more goods overseas.
That figure remains well below the all-time high of $164.4 billion set in July 2008. But there was unmistakable improvement during the month. And it might not just be a flash in the pan. If the value of the dollar continues to sink, it could make U.S. goods even more affordable overseas and increase demand.
Some sectors of the economy fared better than others — with exports of jewelry, machinery and precious metals standing out — but the improvement was evident across the board. Consumer goods, capital goods like factory equipment and automobiles all rose.
One exception was farm products, with exports of corn, soybeans and other foods falling steeply during the month.
Here's a look at items being shipped overseas, by the numbers.
___
BIG TICKET ITEMS
17 percent: September increase in industrial machinery exports, worth $2.8 billion.
3.2 percent: Jump in laboratory testing equipment exports, worth $729 million.
14 percent: Jump in generator exports, worth $860 million.
15 percent: Jump in textile and sewing machine exports, worth $93 million.
___
EXPORTING THE FINER THINGS
63 percent: Jump in jewelry exports, worth $715 million.
21 percent: Jump in art, antique and stamp exports, worth $434 million.
23 percent: Jump in glass and chinaware exports, worth $38 million.
2.5 percent: Jump in musical instrument exports, worth $161 million.
___
COMPUTER DROP
2.3 percent: Drop in computer exports, worth $989 million.
1.5 percent: Drop in semiconductor exports, worth $3.18 billion.
6 percent: Drop in telecommunications equipment exports, worth $2.3 billion.
___
AROUND THE HOUSE
2 percent: Jump in household appliance exports, worth $516 million.
9 percent: Jump in TV, VCR and similar equipment exports, worth $348 million.
7 percent: Jump in rug exports, worth $73 million.
3 percent: Jump in book and printed material exports, worth $449 million.
___
DOWN ON THE FARM
32 percent: Decrease in soybean exports, worth $952 million.
13 percent: Decrease in nut exports, worth $292 million.
15 percent: Decrease in rice exports, worth $140 million.
1 percent: Decrease in corn exports, worth $975 million.
___
HOT COMMODITIES
30 percent: Jump in precious metals exports, worth $759 million.
30 percent: Jump in copper exports, worth $426 million.
6 percent: Jump in pulpwood and wood pulp exports, worth $634 million.
Recent Business stories
GM sues supplier, says it has spent more than $30M fixing problems in Cobalt, other cars - November 13, 2009
GM sues supplier, says it has spent more than $30M fixing problems in Cobalt, other cars - General Motors Co. has sued a supplier, saying it has spent more than $30 million fixing problems in the steering systems of the Chevrolet Cobalt, its best-selling small car, and other vehicles. More
Blog: Patent Pending
Lights out at U energy conference. Irony police notified.
Just as Lawrence Kazmerski, a top official at the National Renewable Energy Laboratory, was about to give the keynote address at the University of Minnesota's annual E3 conference at the RiverCentre in St. Paul, the lights went out, bathing the audience in darkness and a deep sense of irony.
Comment on this story | Be the first to comment | Hide reader comments