Iowa export growth tops nation in first half of 2012

Iowa exports grew by double digits in the first six months of this year compared with the same period of 2011, according to new data from the International Trade Administration.

Iowa merchandise exports increased 22 percent in the first half of 2012, growing from $6.3 billion to $7.7 billion.  The rate of  percentage growth topped the 7 percent national average for merchandise export growth for the same period.

Key Iowa merchandise export categories include machinery manufacturing, food and kindred products, agricultural products (corn, soybeans and soybean meal), chemicals, and transportation equipment.

Iowa's merchandise export sales in the first half of this year outpaced the 2011 figures for the same period in many destinations, including Republic of South Africa (up 105 percent), Ukraine (70 percent), Brazil (65 percent), Russia (56 percent), and Mexico (45 percent).

"Exports are key to growing the economy, and jobs supported by manufactured exports pay up to 18 percent higher wages, on average, than those not related to shipping across borders,” said Patricia Cook, acting director of the U.S. Commercial Service in Des Moines.  “More companies need to take advantage of international opportunities to avoid missing out on some real potential demand for their products or services."

On the import side, Canada was still the largest exporter of products to Iowa last year at $3.2 billion, up from $2.9 billion in 2011. Mexico accounted for $1.2 billion of Iowa's merchandise imports last year, up from $984.8 million in 2010.

Iowa imported $1.16 billion worth of merchandise from China in 2011, up from $1 billion the previous year. China and Mexico reversed their rankings in terms of Iowa imports between 2010 and 2011.

Import statistics were not available for the first half of this year.

Since 2009, International Trade Administration has assisted about 15,000 U.S. companies record nearly 47,000 export relationships. The results supported 9.7 million Americans employed by export-related jobs in 2011, an increase of 1.2 million jobs since 2009.