93 F
Mobile
93.6 F
Huntsville
95.4 F
Birmingham
94 F
Montgomery

Rising Alabama exports put 2022 on course for record year

Alabama exports are bouncing back from global trade frictions and disruptions caused by the COVID-19 pandemic, which combined to interrupt years of momentum that lifted overseas shipments of Alabama-made goods.

While full-year results are not yet available for 2022, trade data show that Alabama exports approached $23.4 billion in value through November — a figure that already eclipses the annual record of $21.7 billion, set in 2017.

That’s good news for Alabama businesses that export their products to an international customer base because it suggests the strong recovery made during 2021 is accelerating.

“Alabama is full of next-level innovation taking place in key industries, and we’re ready to bring what’s happening inside our factories and laboratories, and within our entrepreneurial ecosystem to the world,” said Greg Canfield, Secretary of the Alabama Department of Commerce.

EXPORT ALABAMA

Commerce’s Office of International Trade and its partners in Export Alabama assist Alabama companies in accessing foreign markets to increase international sales, providing trade education and training opportunities, and organizing international trade missions and shows for Alabama firms to identify opportunities in foreign markets.

To help companies succeed in the global marketplace, Export Alabama provides comprehensive international trade services, all on a confidential basis.

Some services available to Alabama companies include advocacy, export education workshops, export finance assistance, identifying foreign distributors and buyers, international market research, and trade missions.

“Export Alabama plays a vital role in connecting companies with the experts, tools, and resources they need to access foreign markets and compete globally,” said Michael Brooks, associate director of the Alabama International Trade Center at the University of Alabama.

“Alabama’s competitiveness on the international stage is key to accelerating the state economy; companies that export tend to hire more people, pay higher wages, and are more resilient in economic downturns,” he added.

To better reach the state’s export-minded businesses, Export Alabama is launching a new web presence that features resources, helpful advice, success stories and contacts.

(Courtesy of Made in Alabama)

Don’t miss out!  Subscribe today to have Alabama’s leading headlines delivered to your inbox.