Indiana exports hit annual record

Indiana companies exported a state-record $28.7 billion in goods last year, according to a study released Thursday by the Indiana University Kelley School of Business research center.

The amount rose from $22.9 billion in 2009 and was higher than the previous record of $26.5 billion in 2008.

Canada, Mexico and Germany accounted for most of the demand for Indiana exports, but the state is seeing growth in Spain, Brazil and China, the report said.

Nationwide, Indiana ranked 14th last year in export sales. Overall, the United States exported nearly $1.3 trillion in goods in 2010.

“While it may seem that Indiana’s share of all exports is relatively small, over the past decade, Indiana has outperformed the nation in its average annual growth rate,” Tanya Hall, an economic research analyst at the Indiana Business Research Center, said in a written statement.

Indiana’s exporting activity has grown at an average annual rate the past decade of 9 percent compared with the national average of 6 percent, according to the report.

Canada still accounts for the majority of Indiana exports, though its share fell from more than 50 percent in 1999 to 37.2 percent in 2010.

Indiana’s top exporting industry continues to be automobiles and parts, followed by pharmaceutical products and industrial machinery.

The entire report is available here.

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