Nevada Sets New Record With $5.7 Billion in Exports

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Exports from Nevada in 2007 reached $5.7 billion, up more than 4% over 2006 exports according to data released by the U.S. Department of Commerce and distributed through the Nevada Commission on Economic Development (NCED).

"Nevada's companies continue to make impressive strides in their exports particularly in Asia", said Lt. Governor Brian K. Krolicki.

"This is the fifth consecutive year of increases in exports from the Silver State."

Of the top 10 export categories, seven of the 10 showed increases ranging from 1% to 97% over exports in 2006.

The largest percentage increases of exports were in:

-Ores, up 97%. This was due mainly to copper.
-Aircraft/parts up 67.4%
-Vehicles/parts up 39.5%
-Industrial Machinery, up 32.1%

Total food and agricultural exports for Nevada were $55.2 million, a 57.8% increase over 2006.

The two largest sub-categories were Edible Preparations, up 84.5% and Edible Vegetables, up 54.3%.

While Gold production figures from the Division of Minerals will not be available until late April, Gold exports, which represent 90% of the precious metals category, were down 2.3% ($60.8 million) from 2006.

Total precious metal exports were $2.8 billion, down 3.02% ($89 million) from 2006.

Exports by Country

Nevada's top ten export markets accounted for 82% of the state's total exports.

"Our top export market continues to be Switzerland, due primarily to gold exports, with $2.6 billion in exports," Krolicki explained.

"This is the fifth consecutive year Switzerland has been our top export market."

Canada, which had traditionally been Nevada?s largest export market before being overtaken by Switzerland in 2002, showed a 14.4% increase in exports to $797.1 million.

"The growth in our state's exports to the greater China region is truly striking. Greater China, including Hong Kong and Macau, was our third largest export market in 2007 with $449.5 million in exports," Krolicki said.

"This was a 52% increase over 2006 and its the seventh consecutive yearly increase in exports to China. Since the year 2000, our exports to China have grown 729%."

Rounding out the top 10 export markets for Nevada (with decreasing dollar value) were:

·UK (England, Scotland & Wales, which showed the greatest increase in exports, up 33.4% over 2006.)