New Hampshire had already exceeded its all-time annual export sales record eleven months into 2010, and showed the highest rate of increase in export sales among all the states, according to the New Hampshire Export Review released by the New Hampshire International Trade Resource Center (ITRC).
In making the announcement, ITRC’s Director, Dawn Wivell said, “As of November 30th, 2010, New Hampshire’s total year-to-date exports reached $3.889 billion. Prior to that our record was $3.752 billion in 2008—and that was for a full twelve months. To put it in perspective, this is a 40.56% increase over the same eleven month time period in 2009. New Hampshire has a lot to celebrate. The Granite State is number one among the states in rate of export growth, and we’re well above the national rate of 21.31%.”
The New Hampshire Export Review shows that 2,200 companies in the state export their goods or services. The majority of these are small or medium-sized businesses (referred to as SMEs) with fewer than 500 employees. SMEs generate approximately half of New Hampshire’s total exports of merchandise; this is the sixth highest share among the states and well above the national average of 30%.
Wivell says that New Hampshire is especially effective at marketing technology in the world markets.
“Each year the TechAmerica Foundation releases its annual report that details national and state trends in the international trade of high-tech goods,” she said. “We knew that New Hampshire was doing well in that arena, but we were especially pleased to find out that New Hampshire had the third highest tech export concentration in the nation last year; tech exports from New Hampshire accounted for half of our total exports.”
Wivell went on to explain that Mexico continues to be New Hampshire’s number one trading partner, with a 40% increase in trade in the first eleven months of 2010, while Canada continues to be second with an increase of nearly 20% during that time period. China, which was third in this category, has seen outstanding growth representing an increase of 93.54%. Other traditionally strong export markets including Germany, United Kingdom, South Korea, Hong Kong, France, Turkey, Taiwan, Australia, Brazil, Columbia and Singapore also posted double and triple digit increases.
“Our staff at the International Trade Resource Center was especially gratified to see these numbers since it really validates the work we’ve been doing to help New Hampshire companies break into and succeed in the international marketplace,” Wivell said. “I hope this will also serve to inspire New Hampshire companies that have been considering exporting to give us a call.”