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SOUTH CAROLINA TRADE ACTIVITY IMPROVES

 COLUMBIA, S.C., Dec. 16 /PRNewswire/ -- International trade activity in South Carolina increased 10.6 percent in the third quarter of 1992 compared with the same period a year ago, according to the SCN South Carolina World Trade Index. Trade activity -- exports plus imports -- in the third quarter totaled $2.04 billion, compared with $1.84 billion in the same quarter of 1991. International trade for 1992 year to date totaled $6.05 billion, up 10.1 percent from the comparable period of 1991.
 South Carolina exports in the third quarter of 1992 were $1.03 billion, up 14.6 percent from a year earlier. Manufactured exports for the quarter totaled $989 million, 15.1 percent above the prior year period. Non-manufactured exports were $42 million, an increase of 3.5 percent from the third quarter of 1991.
 "South Carolina's exports have grown at an annual rate of almost 21 percent during the past few years," said Anthony L. Furr, president and chief operating officer of South Carolina National Bank. "While the current growth rate of 15 percent is somewhat lower, it is still a robust level and clearly positions exports as an increasingly important sector for economic growth in our state," Furr added.
 Third quarter imports to South Carolina were estimated at $1.01 billion. The state had an estimated trade surplus of $24 million for the same period.
 Highlights of South Carolina trade versus the prior year include:
 -- Chemicals and allied products, including pharmaceuticals, was South Carolina's largest export category, increasing 44.4 percent to $239 million.
 -- Industrial machinery and equipment, including computers, the state's second largest category, posted a slight decrease to $201 million.
 -- Paper and allied products rose 11.7 percent to $114 million.
 -- Transportation equipment, the state's seventh largest export category, jumped 31.2 percent to $44 million.
 -- South Carolina exports to the European Community were almost one- third of the total at $312 million, up 30.5 percent from a year ago.
 -- Exports to Canada were the most important single country destination, where third quarter exports totaled $220 million, an increase of 10.1 percent.
 -- Exports through South Carolina ports and airports totaled $1.74 billion, down 3.4 percent from the same period a year ago. These exports consisted of $1.73 billion through Charleston, $4.6 million through the Greenville/Spartanburg airport and $1.9 million through Georgetown.
 -- The value of South Carolina products exported through South Carolina ports and airports rose 19.3 percent to $459 million, and represents 26.4 percent of the total exports shipped through the state's ports and airports.
 The SCN South Carolina World Trade Index is based on data compiled by the U.S. Department of Commerce and other government agencies.
 -0- 12/16/92
 /CONTACT: Linda K. Logan of S.C. National Bank, 803-765-3369/


CO: S.C. National Bank ST: South Carolina IN: FIN SU: ECO

CM -- CH007 -- 7714 12/16/92 12:40 EST
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Publication:PR Newswire
Date:Dec 16, 1992
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