Connect with us

Hi, what are you looking for?

Economy

Alabama exports totaled $27.4 billion in 2023, eclipsing previous record

The value of last year’s exports rose 6 percent from the previous year’s total of $25.5 billion.

The Port of Mobile Alabama Port Authority

Governor Kay Ivey announced Monday that Alabama companies exported goods and services worth over $27.4 billion in 2023, setting a new annual record for the second consecutive year and underscoring the resilience of the state’s economy.

The value of last year’s exports rose 6 percent from the previous year’s total of $25.5 billion, according to data from the Alabama Department of Commerce. Compared to 2020, when international trade was disrupted by the pandemic, the value of Alabama’s exports has jumped almost 43 percent.

Last year’s record export activity was driven by rising overseas shipments of Alabama-made vehicles, aerospace parts, minerals and metals, Commerce data indicate.

“Exporting acts as a fundamental economic pillar that supports growth in Alabama, sparking both new investment and job creation here at home,” said Governor Ivey. “The record-breaking success of our exporters extends the reach of the ‘Made in Alabama’ brand while reflecting the high level of demand for our homegrown products.”

Alabama exports went to 190 countries across the world in 2023, landing everywhere from the world’s biggest economies to tiny locations such as the Solomon Islands, Palau and Gibraltar, according to Commerce data.

The top destinations for Alabama exports last year were:

1. Germany: $5.1 billion (up 17 percent)

Advertisement. Scroll to continue reading.

2. Canada: $3.9 billion (down 2 percent)

3. China: $3.8 billion (up 15 percent)

4. Mexico: $3.2 billion (up 16 percent)

5. South Korea: $1.2 billion (up 15 percent)

Other leading destinations for Alabama exports in 2023 were Japan, Brazil, Poland, India and Saudi Arabia, Commerce data show.

“This second consecutive record year for exports really highlights the fact that companies across Alabama continue to provide top-quality goods and services that are sought by customers worldwide,” said Ellen McNair, Secretary of the Alabama Department of Commerce. “Looking forward, the potential for greater export growth is there, and we are already exploring new and expanding markets for Alabama companies.”

Overseas shipments of motor vehicles powered the surge in Alabama exports in 2023, reaching a record annual total of $11.5 billion, a gain of nearly 28 percent from the prior year. Germany, China and Canada were the leading destinations for Alabama automobiles, Commerce data show.

Advertisement. Scroll to continue reading.

Overall, transportation equipment, which include motor vehicles, auto parts, ships and aerospace products, remained Alabama’s No. 1 export category, totaling $14.8 billion. Notably, exports of aerospace products and parts topped $2.1 billion last year, a rise of 23 percent from the previous year.

Other categories registering over $1 billion in exports during 2023 were minerals and ores ($2.2 billion), chemicals ($2.2 billion) and primary metals ($1.8 billion), according to Commerce data.

“It’s really rewarding to see the hard work of our Alabama companies,” said Christina Stimpson, director of Commerce’s Office of International Trade. “Their dedication, despite geopolitical challenges, is what has allowed us to see a second year of record-breaking success. When our companies find opportunities overseas, it creates a real impact in strengthening our local communities. 

“Growth in exports means growth in our economy,” added Stimpson.

Commerce’s Office of International Trade offers resources to help Alabama companies enter profitable new overseas markets through trade and business development missions, training, foreign-market information, and international contacts.

The office is a partner in Export Alabama, a seamless network of international trade agencies that share the fundamental objective of helping Alabama companies expand their business internationally.

The Alabama Political Reporter is a daily political news site devoted to Alabama politics. We provide accurate, reliable coverage of policy, elections and government.

More from APR

Infrastructure

Construction is expected to begin this spring and continue for approximately three years.

Governor

Gov. Kay Ivey announced her latest batch of appointments to several public boards and commissions.

Governor

The Task Force will submit a report to the governor by Nov. 30, 2024.

Governor

Here’s a look at what the governor had to say.