Missouri’s export sales top $10 billion through third quarter of 2015, Gov. Nixon announces

  

 

Export sales on track to surpass 2014, the second best year on record for Missouri export sales

 

JEFFERSON CITY, Mo – Missouri total export sales for the first three quarters of 2015 reached $10.1 billion, a 2.3 percent increase over the same period last year, Gov. Nixon announced today. The Governor made this announcement during a panel discussion with a bipartisan group of five former Missouri governors in support of the Hawthorn Foundation, a nonprofit organization dedicated to promoting economic growth in Missouri.

 

“Export sales topping 10 billion dollars with three months still left in the year is great news for Missouri’s economy and for job creators throughout the state,” said Gov. Nixon. “When we export more Missouri-made goods overseas, we create jobs here at home. I appreciate the hard work of manufacturers and producers throughout the state who have helped to get more Missouri products into more markets around the globe.

 

Missouri export sales reached $14.1 billion in 2014, the second best year on record for Missouri exports after 2012. For the past three quarters of 2015, Missouri’s exports sales surpassed 2014’s figures.

 

2014 Export Sales

2015 Export Sales

Change

Q1: $3.1 billion

Q1: $3.3 billion  

~6.2% increase

Q1-Q2: $6.5 billion

Q1-Q2: $6.7 billion

~3.0% increase

Q1-Q3: $9.9 billion  

Q1-Q3: $10.1 billion

~2.3% increase

*percent change based on actual numbers

 

Missouri’s top export sector for the third quarter was transportation equipment, with sales reaching $2.7 billion, an 18.7 percent increase when compared to the same quarter of 2014.

 

This top selling sector was led by motor vehicles. Missouri’s major auto plants, which include Ford in Kansas City and GM in Wentzville, are manufacturing some of the country’s top-selling and ranking vehicles. As a result, Missouri’s large network of automotive supplier companies are expanding and hiring new workers to keep up with the demand for parts production.

 

Over the past few years, more than 60 suppliers have added or announced plans to add nearly 4,700 jobs, retain 220 existing workers, and make more than $613 million in capital investments.

 

Just last week, Continental Casting announced plans to expand its workforce at both the Monroe City and Palmyra production facilities, creating 75 new full-time positions. This is the second expansion in three years for the company. Governor Nixon joined the company in 2012 to announce a $2.6 million expansion which included 80 new jobs for the company’s two production facilities in Missouri. 

 

“The market has seen resurgence in the demand for top quality American made products,” said Tina Brown, Chief Financial Officer for Continental Casting. “As a result, we are expanding employment opportunities in our two production facilities to meet that demand.”

 

“Thanks to exporters and job creators throughout the state, Missouri’s unemployment rate has dropped to 5 percent, an eight-year low,” Gov. Nixon said. “We will continue to focus on those efforts which will grow our economy, create jobs and bring prosperity to every corner of the Show-Me State.”

 

Increasing exports has been a central focus of Gov. Nixon’s efforts to create jobs and grow Missouri’s economy. The Governor’s Strategic Initiative for Economic Growth recommended developing a “Best in Class” foreign trade initiative and since taking office, Gov. Nixon has led successful trade missions to China, Brazil, the Republic of Korea (South Korea), Europe, the Republic of China (Taiwan) and eastern Canada, closing agreements to sell nearly $10 billion in Missouri goods.

 

For more information about expanding export opportunities for Missouri businesses, please visit MO.gov.