Oklahoma exports totaled $5.4 billion in 2010, a 21 percent increase over 2009. Data collected by the Oklahoma Department of Commerce, shows aerospace components remain the state’s most exported product, totaling $330.8 million in global sales and accounting for 6.2 percent of the state’s export portfolio. Oklahoma’s aerospace-related exports have grown by almost 22 percent from 2006 to 2010.
Seventy-three percent of the state’s aerospace-related exports go to the state’s five top markets: Japan, Germany, Canada, the United Kingdom and Singapore. Japan leads the way, accounting for over 24 percent of Oklahoma’s total aerospace exports. In 2010, Oklahoma ranked as the 25th-largest aerospace exporting state in the nation.
Dessie Apostolova, International Trade Director for Commerce, said the agency’s global trade team is committed to growing Oklahoma’s economy through international trade and global awareness. She said the state’s 2010 growth is in line with the nation’s growth, which also saw a 21 percent jump.
"We offer customized services to enhance the global competitiveness of Oklahoma businesses. Oklahoma products are shipped to more than 170 countries every year," Apostolova said. "Supporting Oklahoma businesses expand their international market share is one of Commerce’s core mission objectives In 2010, Commerce assisted 245 in-state companies with their international business needs."
Oklahoma’s leading export sales destinations are Canada, Mexico, Japan, China, and Russia. Canada is by far Oklahoma's largest market with export sales surpassing $1.8 billion. Typically, the Canadian market is the destination for 30-40% of the state's exports. Oklahoma exports to Mexico in 2010 totaled more than $430 million and exports to Japan were more than $347 million.
Apostolova said growing international trade and global awareness will strengthen Oklahoma’s 21st Century economy. Several factors make this a particularly good time for international business activity, including a favorable U.S. dollar exchange rate that makes exports more competitive and the products’ reputation for quality.
Oklahoma’s second greatest export last year was liquid pumps. Oklahoma’s third largest export was pork followed by parts for moving and lifting machinery which covers, not the machinery itself, but the parts for pulley tackle, winches, moving and excavating equipment, derricks, cranes, forklifts, elevators, conveyors, and backhoes.
Apostolova said all of the state’s leading export industries scored a healthy growth in 2010 over 2009 with the biggest increase among them marked by iron and steel products, which saw an 85 percent increase over the previous year. Also up in 2010 was electrical machinery - 35 percent increase, heavy industrial machinery – a 13 percent increase and, optical, medical, and precision instrumentation manufacturing – up 12 percent.
The 2010 Oklahoma Export Report can be viewed in full at:www.okcommerce.gov/2010exportreport.