Connecticut exports hit record $12.2 billion
Connecticut exports hit a record $12.2 billion in 2006, according to an analysis by the state’s Department of Economic and Community Development.
The analysis of data from the World Institute for Strategic Economic Research found state exports were up 26 percent from 2005. State exports have been growing steadily since $8.1 billion in 2003, increasing to $8.6 billion in 2004 and $9.7 billion in 2005.
“We the fastest-growing exporter in New England,” said Gov. M. Jodi Rell. “Our growth rate last year far exceeded the national average of 14.7 percent.
“Our challenge is to maintain this forward momentum ' to make sure our companies and export sectors remain competitive in the global market, and to identify and pursue new opportunities for shipping Connecticut products abroad,” Rell said.
One of the more dramatic changes from 2005 to 2006 was Singapore’s jump from 10th place to fifth on the state’s list of top trade partners. Canada retained its position as the top partner, with Connecticut exports north of the border increasing more than 15 percent from $1.68 billion in 2005 to $1.93 billion in 2006.
Rounding out the top five 2006 partners were France, Germany, and the United Kingdom. China fell from eighth place in 2005 to 11th in 2006 despite a 9.6 percent increase in exports to that country.
As in 2005, transportation equipment comprised the greatest segment of exports, up more than 35 percent from $3.94 billion in 2005 to $5.34 billion in 2006.
Machinery, computers and electronic products, chemical, and primary metal manufacturing rounded out the top five 2006 export sectors in Connecticut