Why Exports Are Important to New York Companiesand What We Must Do to Make the Most of Our Opportunities in the Global Economy
New York's exports now exceed $50 billion a year, and almost 400,000 of our jobs depend upon manufacturing exports. But our export sector is not growing as rapidly as it should. We need to pay more attention to issues like taxes, energy costs and civil justice reformand we need to focus on trade policy, as well. (Introduction)
New York is a major player in world trade. We're the nation's third largest source of merchandise export sales. New York City, Rochester, Long Island and Buffalo are among the nation's top 50 areas for merchandise exports. Exports support one out of every five manufacturing jobs in the state. (Section 1)
Export sales from New York hit $53.7 billion in 1997, and merchandise exports make up a rising share of our gross state product. Canada is a key partner; Asia is a market of growing importance. (Section 2)
Manufacturing export employment in New York is 185,500, up 8.5 percent in four years. Including service-sector jobs, the total payroll related to manufacturing export activity was 382,700 as of 1996. (Section 3)
To capture our fair share of export jobs, we must keeping improving New York's business climate. But New York's political leadership must also become involved in U.S. trade policy. (Section 4)
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