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The Business View – May 2017 / News You Can Use
Manufacturers help drive Mobile’s economy, with $1.874 billion in manufactured goods exported in 2015, according to the Brookings Institute, a nonprofit public policy organization based in Washington, D.C. Also during 2015, Mobile exported $578 million in services and $47 million in non manufactured goods, making Mobile’s total value of exports $2.5 billion, according to the organization.
With that volume, nearly one out of every two manufactured products made in the Mobile metro area is exported to regions around the world. Alabama’s top export destinations are, in order: Canada, China, Germany, Mexico and the United Kingdom.
Mobile’s manufactured goods exports accounted for 49 percent of its total manufacturing gross domestic product in 2015. Examples include nail polish remover, laundry detergent ingredients, renewable plant-based fiber products and high strength steel.
Exported services are led by engineering, finance, information and communications, and technology. Mobile’s non-manufactured exports include agriculture products, forestry and fishing bounty.
Locally, total export-supported jobs reached 11,931 in 2015 – up 45 percent since 2005, 16 percentage points above the 29 percent national growth during that same period, says Christina Stimpson, the Mobile Area Chamber’s director of international trade. Participating companies in Chamber-led trade missions cross many sectors, and include Alabama Roll Products, MapuSoft Technologies, Mitternight Inc. and the University of South Alabama. Mobile also led Alabama’s major metros in manufacturing goods export growth during that same time period with 83 percent.
The Chamber’s international trade program is celebrating 20 years in 2017. The goal is to continue to increase area export sales to increase job creation.
Stimpson says the Chamber addresses this goal through educational workshops, monitoring and advocating for business friendly trade policies, and sponsoring trade missions.
Click here to read The Business View – May 2017