Massachusetts Exports Continue Record Pace in 2000.Business/News Editors BOSTON--(BUSINESS WIRE)--Dec. 12, 2000 Massachusetts industries are competing successfully in global markets, The Alliance for the Commonwealth reports. The Alliance announced today that its Massachusetts Export Indicator, which reflects an industry-by-industry comparison of the state's export performance to the nation's, performed strongly in each of the first two quarters of 2000, and now has been positive for four consecutive quarters. The Indicator climbed from $62 million in the first quarter to $241 million in the second, achieving its best showing since the first quarter of 1996 and its second-best in more than 12 years. The Massachusetts Export Indicator compares the state's actual quarterly export performance to a benchmark constructed by applying national industry-by-industry export growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. to the state's exporting industries. The result (a positive $241 million in the second quarter) represents the difference between actual manufacturing exports and the amount Massachusetts would have exported had each of its industries matched the growth rate of export sales for that industry nationally. Commenting on the results of the Indicator, John Gould
Second Quarter Total Hits $5 Billion The second quarter of 2000 was the first $5 billion quarter for exports of manufactured goods manufactured goods npl → manufacturas fpl; bienes mpl manufacturados manufactured goods npl → produits manufacturés from Massachusetts. The total of $5.009 billion was the third consecutive quarterly record, and an increase of 18.1% from the second quarter of 1999. Exports for the first two quarters of 2000 totaled $9.737 billion, a 16.4% rise from the first half of last year. For the 12 months ending June 30, 2000 the value of Massachusetts's exports of manufactured goods was $18.552 billion, also a record, up 10.4% from the previous year. Variety of Industries Contribute to Export Growth Products made in Massachusetts contributing to export growth represent both emerging and long-established industries. They include metal oxide semiconductors, integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. , diodes, and related machinery and instruments; turbojet turbojet: see turbine. turbojet Jet engine in which a turbine-driven compressor draws in and compresses air, forcing it into a combustion chamber into which fuel is injected. engines and organic chemicals; and paper products and firearms. Moreover, Massachusetts's exporters achieved increased sales to nearly all of their top foreign markets. Solid economic growth in Canada and Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). together with the strengthening Japanese economy, are producing significant gains in these traditional markets. However, the strongest boost to Massachusetts's exports in 2000 came from the emerging economies of East Asia East Asia A region of Asia coextensive with the Far East. East Asian adj. & n. , resurgent re·sur·gent adj. 1. Experiencing or tending to bring about renewal or revival. 2. Sweeping or surging back again. Adj. 1. after financial turmoil in recent years. Taiwan, the Republic of Korea, Singapore, mainland China, Hong Kong, the Philippines, and Malaysia are all important markets for Massachusetts goods. Meeting the Challenge of Worldwide Competition "The dollar's continuing strength against the euro has not prevented a surge in exports, but it has contributed to downward pressures on the price of many manufactured goods," said Gould. However, he said, "Massachusetts's exports are weighted toward specialized capital goods Capital Goods Any goods used by an organization to produce other goods. Notes: Examples of capital goods include office buildings, equipment, and machinery. See also: Capital Expenditure, Disinvestment Capital goods that are more sensitive to economic growth trends in overseas markets than to exchange rate fluctuations. Moreover, Gould said, "The single sales factor apportionment The process by which legislative seats are distributed among units entitled to representation; determination of the number of representatives that a state, county, or other subdivision may send to a legislative body. The U.S. law approved in 1996 by the Legislature to encourage Massachusetts manufacturers to expand their operations in the state and to increase out-of-state sales has been a valuable incentive to convince more manufacturers to expand their international activities." The Alliance for the Commonwealth is a non-partisan, tax exempt research and educational foundation created by Associated Industries of Massachusetts to develop and communicate information relating to the economic and social well being of Massachusetts. The Alliance thanks the Massachusetts Institute for Social and Economic Research (MISER) at the University of Massachusetts The system includes UMass Amherst, UMass Boston, UMass Dartmouth (affiliated with Cape Cod Community College), UMass Lowell, and the UMass Medical School. It also has an online school called UMassOnline. , Amherst for their assistance in providing data and in developing the Massachusetts Export Indicator. |
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