The latest international trade numbers show that $5.03 billion worth of goods left Florida for international markets in June.
The latest international trade numbers show that $5.03 billion worth of goods left Florida for international markets in June, down 0.8 percent from May, according to Durham, N.H.-based e-forecasting.com.
The June data is the most recent available.
Exports of manufactured goods contributed significantly to the state?s international trade, accounting for 75 percent of all state exports in June. However, exports from state manufacturers decreased in June by 1.7 percent from the previous month to $3.75 billion.
Meanwhile, exports of non-manufactured goods went up 2 percent in June to $1.27 billion. This group of shipments abroad consists of agricultural goods, mining products and re-exports ? foreign goods that entered the state as imports and are exported in substantially the same condition as when imported.
How does Florida compare to other states in export growth in 2013 through the first half of the year? In the first six months, foreign sales from Florida?s companies decreased by an annual rate of 5.8 percent compared with the first six months in 2012. As a result, Florida ranked 39th among the 50 states in export growth so far this year.
As for the prospects over the next few months for exports of manufactured goods, that will depend on the pace of incoming orders from abroad. According to the July business survey conducted by the Institute of Supply Management, the nation?s purchasing executives are optimistic about the outlook of growing export markets.
The Tempe, Ariz.-based research institute reported that its export indicator showed an expansion in incoming export orders for the eighth month in a row, following six consecutive months of contraction dating back to June 2012.
As for the outlook for the remainder of 2013, the International Monetary Fund forecasts the volume of global trade to grow just 3.1 percent for the year. The IMF?s forecast shows that emerging and developing countries will drive foreign demand for Florida?s exporters, contributing to local production and jobs substantially more than the high-income industrial countries.
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