Maine exports grow by 9.5% in 2008
The semiconductor industry retained its status as Maine's No. 1 exporter, logging $847 million in overseas sales in 2008, about 28% of a record $3 billion in products Maine companies exported last year.
Maine's exports grew 9.5% from 2007 to 2008, according to report released today by the Maine International Trade Center, with Canada continuing to be the state's leading export destination. Canadian imports of Maine products increased by 4% to $936 million in 2008. Malaysia remained the state's second largest market, purchasing $765 million of products - mostly semiconductors. The other top markets were Saudi Arabia, South Korea, China, Japan, Belgium, the Netherlands, the United Kingdom and the United Arab Emirates. See Maine's top 25 export partners below.
The state's pulp and paper companies expanded their sales abroad by 20.3% to $373 million. Exports of transportation equipment also posted a nearly 127% increase, from $186 million in 2007 to $422 million in 2008. Download a list of Maine's top 32 exports, by industry.
Janine Bisaillon-Cary, president of the Maine International Trade Center, said sales through the first half of 2008 were fueled by a weak U.S. dollar. "Then in September when the dollar started to increase in value and the financial crisis hit, we started to see a slowdown in growth in certain commodity sectors."
The report referenced a Washington-based study that says international trade supports 143,000 jobs in Maine.
Source: Maine International Trade Center
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