Md. exports rise 6.4%, slower than U.S. rateGov. Parris N...

Maryland Watch

April 04, 1996

Md. exports rise 6.4%, slower than U.S. rate

Gov. Parris N. Glendening said yesterday that exports by Maryland companies rose 6.4 percent in 1995 to $6.2 billion, but that growth was slower than the nationwide rate and Maryland still exports fewer goods than it imports.

The governor said Maryland export growth was led by a surge in technology shipments and growth in sales to developing nations. But Canada and Japan remained the state's top foreign trade partners, and transportation equipment continued to account for nearly half of Maryland merchandise exports.

Michael A. Conte, director of the Regional Economic Studies Program at the University of Baltimore, said the United States' exports increased by 11.8 percent in 1995, led by a 15 percent gain in manufacturing exports.

He said Maryland's export growth is slower because the state depends heavily on government, whose work is not exported, and because the state economy is less concentrated in the manufacturing sector than the nation's.

"It's certainly good that we're increasing exports, but we're only increasing at about half the national average," Mr. Conte said.

Pub Date: 4/04/96

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