| BALTIMORE, MD Fri, Mar 2, 2007 Maryland exports climbed to a record high of $7.6 billion in 2006, up from $7.1 billion the previous year, the Maryland Department of Business and Economic Development announced today. The state exported globally to more than 200 foreign countries, with Canada continuing to be the top destination for Maryland goods, receiving nearly $1.5 billion in exports in 2006, up 11 percent from 2005. Among the main factors for the gain in exports is Maryland’s elevated profile in the global marketplace, a result of the state opening several new international offices in the last few years, as well as an increased focus on assisting Maryland businesses in marketing their products overseas.
“These export figures are encouraging and a tremendous increase from where we were several years ago. But we know we have only scratched the surface when it comes to promoting products made by Maryland companies on an international scale,” said Business and Economic Development Secretary David Edgerley. “In today’s global economy, foreign markets need to be addressed in most companies’ strategic plans in the mid- to long-term. By helping to identify export-friendly markets and minimizing the cost and risk of market entry, our office can flatten just about any company’s export learning curve.”
Behind Canada, the top export markets for Maryland are Egypt, United Kingdom, The Netherlands, Belgium, Germany, Japan, China (mainland), Mexico and France. Maryland’s biggest growth market, in dollar terms, has been Egypt. Exports from Maryland to Egypt jumped from $382 million in 2004 to $810 million in 2006 due mostly to an increase in aviation and aerospace equipment.
A total of 4,713 companies exported goods from Maryland locations in 2004, according to data from the International Trade Administration of the U.S. Department of Commerce (the most current data available). The majority of those companies, 84 percent, were small and medium-sized companies with fewer than 500 employees. Some of the largest Maryland exporters continue to be Northrop Grumman Electronic Systems, ARINC and Lockheed Martin. Transportation equipment is currently the largest Maryland export industry followed closely by computers and electronic products, chemicals and non-electrical machinery.
The Maryland Department of Business and Economic Development offers export assistance programs for small and mid-sized Maryland companies and coordinates international trade and investment missions and trade show opportunities for Maryland companies. The Department has a network of representatives in 11 foreign offices, including China (Beijing and Shanghai), Singapore, Taiwan, South Africa, Israel, Mexico (Mexico City and Monterray), Brazil, Paris and Bangalore, India.
Maryland Department of Business and Economic Development
The mission is to attract new businesses, stimulate private investment and create jobs, encourage the expansion and retention of existing companies and provide businesses in Maryland with workforce training and financial assistance. The department promotes the State's many economic advantages and markets local products and services at home and abroad to spur economic development, international trade and tourism. Because they are a major economic generator, the department also supports the arts, film production, sports and other special events. For more information, visit www.choosemaryland.org.
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