Monday, February 16, 2009

Conn. exports grow in 2008

By Marc Songini

Despite the hard times, the state of Connecticut continues to see a double digit rise in its international exports, the Governor M. Jodi Rell announced.

This week, in a press release, she claimed that Connecticut exports in the calendar year of 2008 amounted to $15.31 billion, up 11 percent from the 2007 total of $13.7 billion. According to information from the World Institute for Strategic Economic Research, Connecticut exports have grown steadily over the past five years, having amounted to $8.1 billion in 2003. Medical instruments are one of the largest export categories for the state.

Rell said that exports have been a “true strength” for Connecticut throughout an otherwise grim year. However, she noted there was no way to be certain if this upward-rising trend would continue through 2009, given “the economic slump taking its toll not only in our nation but around the world.”

She said, however, 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 top trade partners are Canada, France, Germany, Mexico and the United Kingdom. While Canada is still the state’s top trading partner, exports there decreased slightly last year, by 2.38 percent. With a value of $6.2 billion, industrial machinery was the largest segment of exports. Other top segments included aircraft and spacecraft parts, electric machinery, plastics, and optic, photo and medical instruments. 

The state also actively sponsors biotechnology and green technology research. Recently, Rell signed an executive order to boost the state’s green collar jobs. The order calls for finding chances to create green jobs and expand environmental industries.