Top State Export:  Aerospace Components

April 8, 2010 -- Oklahoma's exports totaled $4.4 billion dollars in 2009 and aerospace components ranks as the state’s most exported product. Data collected by the Oklahoma Department of Commerce shows exports to Mexico jumped from $358 million in 2008 to $527 million in 2009, increasing consumption by almost 46%. That increase is the third largest export growth to Mexico in the nation.

"The export figures prove that Oklahoma companies are succeeding in today's global economy. Products made in Oklahoma are shipped to more than 170 countries around the world," said Natalie Shirley, Oklahoma Commerce Secretary. "Supporting state business in expanding into international markets is one component of the Department’s core mission. Commerce is committed to cultivating an economic climate that will create job growth, opportunity and prosperity for Oklahoma."

She said Oklahoma's international success is critical to the development of some of the state’s most exciting small and medium sized businesses. Oklahoma companies with globally competitive products, regardless of size, can be highly competitive and highly successful in the international marketplace.

Oklahoma's largest export sector in 2009 was aerospace components, totaling more than $320 million in sales and accounting for more than 7% of all Oklahoma exports. Oklahoma’s aerospace-related exports grew by 20% from 2007 to 2009. Nearly 70% of the state’s aerospace related exports go to the state’s five top markets: Canada, Germany, Japan, Turkey, and the United Kingdom. Canada accounts for more than 26% of Oklahoma’s total aerospace exports.

Sandy Pratt, Commerce Deputy Director for Business Services, said growing international trade and global awareness will strengthen Oklahoma’s 21st Century economy. Last year, the Global Business Services assisted more than 350 Oklahoma clients in their global business maneuvers.  

"We offer targeted, customized services to enhance the global competitiveness of Oklahoma businesses and communities. The Department of Commerce is proud of the help that we offer to businesses looking to expand their presence into international markets," Pratt said. "We strive to strengthen the Oklahoma economy by helping state businesses grow into new global markets."

She said 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. The industry totaled almost $250 million in exports in 2009. The state’s third largest exporting sector was 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, fork lifts, elevators, conveyors, and backhoes. The industry totaled over $150 million in exports in 2009.

Oklahoma’s leading export sales destinations are Canada, Mexico, and Japan. Canada is by far Oklahoma's largest market with export sales surpassing $1.3 billion. Typically, the Canadian market is the destination for 30-40% of the state's exports. Consistent with national trends, Japan is Oklahoma's third largest market, after Canada and Mexico. Oklahoma exports to Japan in 2008 totaled $282 million.

In international markets with export sales of more than $10 million, the most substantial growth for Oklahoma exports from 2008 to 2009 was seen in Turkey (195.50%), Switzerland (156.78%), Pakistan (150.20%), Poland (92.77%), India (83.37%), Indonesia (77.60%), Mexico (46.95%), Nigeria (41.76%), Thailand (12.44%), and Algeria (11.97%).

The 2009 Oklahoma Export Report can be viewed in full at: www.okcommerce.gov/2009exportreport.