In 2014, there were 7,326 different exporters in Tennessee, a 2.5 percent increase from 2013 and a 7.4 percent increase from 2010. The number of Tennessee exporters has grown significantly faster than the total number of American exporters.
These are among the findings of the new Global Commerce report by the Business and Economic Research Center in Jones College of Business at Middle Tennessee State University. The report highlights both trends in the location of Tennessee’s exporters and trade trends in Tennessee. This issue of the award-winning signature BERC publication highlights potential strengths and weaknesses of Tennessee’s trade dynamics within the context of global economic trends.
“The one interesting trend is that the central areas of Knoxville, Nashville, and Memphis generally saw declines in the number of exporters, while their immediately surrounding metro areas all saw gains,” said Dr. Steven Livingston, Global Commerce editor and BERC fellow who has produced the quarterly report since the late 1990s.
Highlights of the report include:
● Number of Tennessee exporters: Up from 2010
● Rising export zip codes: La Vergne and Morristown
● Export trend: 0.66 percent growth (10th in the nation)
● Top export sectors: Medical equipment and motor vehicle parts
● Fastest growing areas: Electric storage battery parts and activated carbon
● Declining products: Peptones and derivatives and drive axles with differentials
● Fastest growing markets: Czech Republic and Saudi Arabia
● Declining markets: Oman and Indonesia
“Global Commerce is a core BERC product,” said Dr. Murat Arik, director of BERC. “We will continue to build on its excellent tradition and provide an award-winning product for Tennessee manufacturers, exporters, and leaders.”
The complete report can be viewed at http://capone.mtsu.edu/berc/globalcommerce.html.
About the MTSU Business and Economic Research Center (BERC)
BERC supports the public service activities of Jennings A. Jones College of Business. The center engages in a variety of educational and research activities aiding businesses, government, civic organizations, and other interested individuals in understanding Tennessee’s economic and business climate. For more information, please visit www.mtsu.edu/berc.