beshear b 300FRANKFORT, Ky. (2/16/14) – For the third straight year, Kentucky’s exports set a new all-time annual record.

Governor Steve Beshear today announced the new mark of $25.3 billion in sales of Kentucky-made products and services in 2013.
 
The record represents a more than 14 percent growth in exports since 2012, the second highest increase in the country.

By comparison, the average export growth rate nationwide was about 2 percent.

In 2012, Kentucky’s exports totaled $22.1 billion.
 
“The fact that we’ve shattered records three years in a row shows our export initiatives are working,” said Gov. Beshear. “Expanding markets by selling domestically and internationally is important to our business community, to our economy and to all Kentuckians. As a result of our hard work, demand for Kentucky products is growing at a rapid pace and other states are struggling to keep up.”

State’s export growth rate is second-highest in the nation

Leading Kentucky’s export growth is aerospace products ($5.6 billion), followed by motor vehicles and parts ($5.5 billion) and synthetic rubber and resin ($1.4 billion).
 
Among the state’s major industries, the export that accounted for the highest percentage increase in 2013 was glass, up nearly 71 percent from the previous year. Other industries to witness significant gains include communications equipment, and audio and visual equipment.
 
In 2013, the Commonwealth exported to 198 nations. Kentucky’s top trading partner once again is Canada, with $7.7 billion in products and services. Mexico ($1.9 billion), United Kingdom ($1.8 billion), China ($1.3 billion) and Brazil ($1.1 billion) round out the top five.
 
Kentucky’s exports to Saudi Arabia jumped 381 percent. Nationally, Kentucky had the largest increase in exports to Saudi Arabia and is now that country’s 11th largest trade partner. The increase in exports to Saudi Arabia is attributable to motor vehicles (up from $38 million in 2012 to $610 million in 2013).

To further expand trade opportunities, Gov. Beshear will lead a Kentucky Export Initiative trade mission to the United Kingdom in May.

Exports with the United Kingdom were up more than 20 percent in 2013 with bilateral trade between Kentucky and the UK topping $3 billion. The trip will give Kentucky businesses the opportunity to have one-on-one meetings, build relationships to increase sales and explore one of Europe’s most established markets.

Visit the KEI website at www.KyExports.com for more information on the upcoming trade mission.
 
Kentucky’s strong network of trade partners has aided companies across the Commonwealth in reaching global markets and promoting the Kentucky brand.

In late 2010, Gov. Beshear created the KEI to better facilitate international trade opportunities for Kentucky businesses.

Since the KEI’s establishment, Kentucky exports have grown by 25 percent.

KY export init 200

SurfKY News
Information provided by Office of the Governor

e-max.it: your social media marketing partner

LIKE SurfKY on Facebook - Click here to LIKE us now.

© Copyright 2015 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story on social media.

1 DOW 16,087.08
-287.68 (-1.76%)    
2 S&P 1,918.01
-33.12 (-1.70%)    
3 NASDAQ 4,673.62
-59.88 (-1.26%)    

Stock Report Sponsored by

In Other News...

Nortonville New Water Treatment Plant Another Step Closer

NORTONVILLE, Ky. (9/3/15) — Nortonville City Council held a special called meeting on Tuesday, Sept. 1 to discuss… Read More

Madisonville Police Arrest Reports Released - Sept. 4, 2015

MADISONVILLE, Ky. (9/4/15) — The Madisonville Police Department released the following reports Friday, Sept. 4. Larry… Read More

Most Read This Week

August 31, 2015 6842

Man Convicted of Hopkins Countian's Death Granted…

by Doreen Dennis, SurfKY News
September 02, 2015 6139

Madisonville Gaining Two New Businesses

by Ron Sanders
August 30, 2015 4021

UPDATED: 'He Fought the Law ... but, the Law Won'

by Doreen Dennis, SurfKY News
September 02, 2015 3296

Investigation Leads to Meth Trafficking Charge

by SurfKY News
August 29, 2015 2800

Kentucky State Park Camping Deal Offered in…

by SurfKY News

Most Read This Month

August 06, 2015 19697

Muhlenberg Woman Reportedly Suffers Violent…

by SurfKY News
August 24, 2015 12298

Teen Reports Slasher Attempted to Attack Him on…

by Doreen Dennis, SurfKY News

Stories Trending Now

September 02, 2015 2147

Crime Stoppers Top Most Wanted - September 2, 2015

by SurfKY News
September 03, 2015 1052

One Injured when Motorcycle, SUV Collide

by Doreen Dennis, SurfKY News
September 03, 2015 849

Madisonville Police Arrest Reports – Sept. 3, 2015

by SurfKY News
September 03, 2015 823

Nortonville New Water Treatment Plant Another…

by Tammy Holloway, SurfKY News
September 03, 2015 820

TMS Automotive to Locate in Bowling Green

by SurfKY News
September 03, 2015 795

TVA Touts Progress of Combined Cycle Project

by Doreen Dennis, SurfKY News
September 02, 2015 786

Ministry Reaches People from Region to Honduras

by Focus on Hopkins County
September 03, 2015 593

Gubernatorial Candidate Spot-on about Head Start

by SurfKY News
September 03, 2015 574

Kentucky Disc Golf Championships Set for Oct. 3-4…

by SurfKY News
September 03, 2015 568

Gospelfest Wows Crowd of Approximately 4,500

by Mike Groves, SurfKY News