Governor Kay Ivey announced that Alabama’s economy is continuing to shatter records. Two weeks ago, the Governor reported that the Port of Mobile generated $98 billion in annual economic impact for the state. On Monday, she rolled out data that shows the even bigger picture.
According to the Governor and the Alabama Department of Commerce, the state of Alabama shattered its annual export record for 2023, reaching $27.4 billion in goods and services for the year.
In 2023, transportation equipment, including motor vehicles, auto parts, ships, and aerospace products, remained Alabama’s No. 1 export category at $14.8 billion. The value of last year’s exports also rose 6% from the previous year’s total of $25.5 billion.
“Exporting acts as a fundamental economic pillar that supports growth in Alabama, sparking both new investment and job creation here at home,” said Ivey of the new record. “The record-breaking success of our exporters extends the reach of the ‘Made in Alabama’ brand while reflecting the high level of demand for our homegrown products.”
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Per the Department of Commerce, the top destinations receiving the most Alabama exports in 2023 were:
- Germany: $5.1 billion (up 17%)
- Canada: $3.9 billion (down 2%)
- China: $3.8 billion (up 15%)
- Mexico: $3.2 billion (up 16%)
- South Korea: $1.2 billion (up 15%)
Ellen McNair, Secretary of the Alabama Department of Commerce, anticipates further growth this year.
“This second consecutive record year for exports really highlights the fact that companies across Alabama continue to provide top-quality goods and services that are sought by customers worldwide,” said McNair. “Looking forward, the potential for greater export growth is there, and we are already exploring new and expanding markets for Alabama companies.”
Director of Commerce’s Office of International Trade, Christina Stimpson, said it was gratifying to see the work of Alabama companies and organizations being utilized globally.
“Their dedication, despite geopolitical challenges, is what has allowed us to see a second year of record-breaking success,” Stimpson said. “When our companies find opportunities overseas, it creates a real impact in strengthening our local communities.”
“Growth in exports means growth in our economy.”
Exports of aerospace products and parts also increased reaching $2.1 billion last year, which represented a 23% increase from the previous year.
Austen Shipley is a staff writer for Yellowhammer News.
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