For the third straight year, New Hampshire exports set a new record, topping $5.8 billion in 2019, up 10 percent from 2018, according to federal trade data.
“The latest export numbers show that New Hampshire has entered the global arena as a hub for advanced manufacturing,” said Gov. Chris Sununu. “With an educated workforce, access to regional markets, and a pro-business environment, the Granite State is the most desirous state in the nation for companies to locate themselves.”
Aircraft parts for civilian aircraft was the state’s top export in 2019 and Germany continued to be the state’s top trading partner, followed by Canada, Ireland, Mexico and Japan.
Aircraft and spacecraft parts rose 68 percent to $1.3 billion from 2018, overtaking industrial machinery as New Hampshire’s leading export, followed by electric machinery, pharmaceutical products, and optics.
“New Hampshire businesses recognize the importance of global markets, which we’ve seen reflected in record-setting trade statistics over the past three years,” said Taylor Caswell, commissioner of the New Hampshire Department of Business and Economic Affairs. “More than ever, we are committed to helping domestic and international businesses access new markets for their products.”
As part of New Hampshire’s pro-growth initiatives, Sununu established the nation’s first state-level United States-Mexico-Canada trade council to encourage further growth and improved trade relations with Canada and Mexico.
Caswell, chairman of the new state trade council, said the trade statistics demonstrate New Hampshire’s value for international supply chains.
“New Hampshire stands alone on the East Coast of North America as a low-tax, pro-growth location for domestic and international business market access into the U.S. or the East Coast, and we have every intention of aggressively growing the competitive advantage for our employers,” he said.
In addition, BEA’s Office of International Commerce is recruiting partner businesses at ILA Berlin, which highlights aviation, defense and security, and unmanned systems for companies interested in the European market May 13-17, 2020.
OIC works with state federal partners, including the US Commercial Service, to provide New Hampshire businesses export compliance training and other resources to expand into world markets. For more information, visit nheconomy.com/office-of-international-commerce.
Tags: exports, International Commerce, international trade, Office of International Commerce