Products manufactured and exported throughout Columbia County and the state continue to maintain local employment and remain a major economic driver.
US exports increased from $ 1.42 trillion in 2020 to $ 1.75 trillion in 2021. Before the pandemic, US exports in 2019 totaled $ 1.64 trillion.
Oregon is 18th on the list, with exports of $ 29.6 billion, or 1.7% of total US exports. This is an increase of $ 4.7 billion for the state since 2020.
China is Oregon’s largest exporter, followed by Canada and Malaysia.
As expected, the two largest states in the United States accounted for the two largest shares of exports. Texas is 21.4% and California is 10.0%.
New York was third with 4.8% in 2021, and Louisiana was fourth with 4.4%. Each of the remaining states held a share of less than 4.0% of the country’s exports, most of which was less than 3.0%.
Exports are the result of production in the trading sector. That is, an industry that manufactures, creates, mines, harvests, or otherwise produces items and sells and ships them for further production, or sells and ships them to another destination for final sale. ..
Top 2 US Oregon Market Top 3
Canada, Mexico and China purchased a total of 41.9% of US goods and services sold in the international market. Canada was the second most popular export partner, relatively close to Mexico. China was 3rd and Japan was 4th. South Korea barely overtook Germany to finish the top five. Canadian companies purchased $ 307 billion (17.5%) worth of US goods and services sold outside the state in 2021. Texas was the top supplier, shipping 9.4% of Canada’s US imports. Oregon fell in 25th place, shipping 1.1% at a value of $ 3.3 billion. Oregon’s largest export to Canada was transportation equipment, which accounted for 25.6% of Oregon’s total exports to Canada. Machinery; Oregon’s exports to Canada were the second and third highest, with the exception of electrical products (14.6%) and wood products (9.0%).
Mexico purchased $ 276.5 billion (15.8%) worth of US goods and services in 2021. Texas has shipped the largest share again, but is worth 44.4% of the country’s purchased US products, or $ 122.7 billion. Oregon is 36th on the list of US suppliers in Mexico, with a 0.2% share of the market. This is worth $ 559.8 million.
As in Canada, Oregon’s largest export to Mexico was transportation equipment, but about one-eighth ($ 108.1 million) of what was sold in the Canadian market. Transportation equipment accounted for 19.3% of Oregon’s total exports to Mexico. Mechanical; came second except electricity (14.7%). Electrical installations; appliances and components (11.9%) occupied the third slot.
China, the third largest export partner of the United States, purchased 8.6% of US exports at a value of $ 151 billion. Unlike the Mexican export market, the Chinese market is more evenly distributed across states. Texas (14.0%), California (11.1%) and Louisiana (8.1%) ranked in the top three. Oregon was the fifth largest exporter to China (again, following Washington) and the market was particularly strong. Oregon supplied 7.0% of China’s US imports and services in 2021 and was worth $ 10.6 billion, with China’s business purchases accounting for 36.0% of Oregon’s total exports.
China may be ranked third in the United States, but it is ranked as Oregon’s largest export market. Canada is the second largest market, with Malaysia closing the top three. Canada and Malaysia purchased 11.0% and 7.5% of the state’s exports, respectively. Mexico ranked 11th on the Oregon list, buying 1.9%.
Malaysia may be ranked 23rd in US export purchases, but the country is at the top of the list in Oregon. The country purchased 7.5% of the state’s exports and services worth $ 2.2 billion. Malaysia’s primary concern is computers and electronic products, which is 90.5% of Malaysia’s imports from Oregon, for a total of $ 2 billion. Machinery, excluding waste and scrap (3.4%), and electricity (1.6%), was the second and third most popular product. Malaysia’s top three imports account for 95.5% of imports from Oregon.
China is the top three export destinations in Oregon
Computers and electronic products have been Oregon’s largest exports, at least since dating back to the Bureau of Foreign Trade’s online database (1999). In 2021, computer and electronics exports accounted for 49.3% of the state’s total exports, earning $ 14.6 billion. China bought more than half (55.4%) at a price of $ 8.1 billion. The majority (76.0%) of the products sold from Oregon to China were computer and electronic exports. Machinery, excluding electricity (7.8%), transportation equipment (4.7%), agricultural products (4.5%), and chemicals (4.0%), accounted for the majority of the state’s remaining exports to the country.
Malaysia, Israel and Vietnam were also keenly interested in computer products. Overall, Malaysia, Israel, Vietnam, and China accounted for 83.3% of Oregon’s computer and electronics export market. Israel became a major purchaser of Oregon in 2021 and purchased $ 1.2 billion worth of computer products. That’s $ 1.1 billion more than the country’s regular annual purchases. Oregon’s remaining computer and electronics exports were split into 147 countries, ranging from Ireland’s $ 414.6 million purchase to Bosnia and Herzegovina’s $ 2,700 purchase.
Machinery; with the exception of electrical appliances, it was the second largest export in Oregon in 2021. Machinery exports accounted for 14.4% of the state’s total exports and were worth $ 4.3 billion. China was also the state’s largest export market for machinery. South Korea was the second closest. China received 19.4% of Oregon’s machinery exports for about $ 828 million, and South Korea bought 17.4% for $ 740 million. Taiwan bought 15.9% and Canada bought 11.2%. Together, these four countries accounted for 63.9% of Oregon’s machinery exports. The rest went to 137 countries, ranging from Singapore’s $ 266.7 million purchase to Macau’s $ 2,850 purchase.
China was second on the list of transportation equipment, which is Oregon’s third largest export. The transportation equipment market accounted for 7.1% of Oregon’s exports in 2021 and earned $ 2.1 billion for state exporters. A Chinese company bought 23.9% of the transportation equipment exported from Oregon at a price of $ 498.7 million. Canada is the top buyer, accounting for 39.8%, or $ 831.7 million.
These top two countries occupy almost two-thirds of Oregon’s transportation and export market. The state’s remaining transportation exports went to 112 countries, ranging from Japan’s $ 111.8 million purchase to Estonia’s $ 2,719 purchase.
Exporting top fuel manufacturing industries and revitalizing the economy
Exports fall into many categories. They can be mining or extraction, growth or cultivation, intellectual property or services, or even recycled products. However, more than 90% of Oregon’s exports are manufactured products. It may be easy to overlook the manufacturing part of Oregon’s economy.
Many manufacturers are small and less popular than others. Only 3.9% (6,327) of Oregon’s private sector companies were classified as manufacturing in 2021 and averaged the first three-quarters. By comparison, there were more than 27,000 companies in education and medical services, professionals and business services in 2021 each. There were more than 13,000 companies in retail, leisure and hospitality each. These four industries, along with manufacturing, make up the top five industries by employment in Oregon.
Manufacturing is a relatively small number of companies that employ 11.6% of the workforce in the private sector. At 185,414, this was slightly above 10.6% for leisure and hospitality and slightly below 12.9% for retail. Manufacturing jobs are about 100,000 less than education and medical services and about 60,000 less than professional and business services, while the industry is $ 10.6 billion (14.5) of the $ 73.5 billion salary in the private sector. %) Was paid. This was close to two-thirds of the $ 12.2 billion salary (16.6%) for education and medical services and the $ 16 billion salary (21.7%) for professional and business services. This was also nearly twice that of retail and more than three times that of leisure and hospitality.
Oregon’s top export industry remains the top manufacturing industry. Computer and electronics manufacturing will employ 37,569 people and pay $ 4 billion in 2021. Most of these jobs (80.6%) were in semiconductors and electronic components. The computer and electronics manufacturing industry employed more workers than the machinery manufacturing industry (13,644), the metalwork manufacturing industry (15,631), the wood product manufacturing industry (22,629), and even the food manufacturing industry (28,424). .. In addition, computer and electronics manufacturing salaries were $ 397 million higher than the combined salaries of these four industries.
Computer and electronic device manufacturing accounts for 37.7% of the total salary of the manufacturing industry, making its contribution to the economy even greater. Oregon’s 2021 gross domestic product will not be available until April, but the Bureau of Economic Analysis estimates that the state’s 2021 private sector GDP will be approximately $ 228 billion. According to BEA, goods-producing industries such as manufacturing, agriculture, forestry and mining accounted for 23.6% ($ 53.8 billion) of the state’s private sector GDP in 2021. The manufacturing industry alone accounted for 15.9%.
Oregon’s annual private sector GDP in 2020 was $ 211.3 billion, with computer and electronic product manufacturing contributing $ 15.6 billion. That’s almost half of the $ 33.5 billion contribution of manufacturing. This ratio is unlikely to decrease in 2021. Food and beverage manufacturing, wood product manufacturing, machinery manufacturing, and metalwork manufacturing were the second largest contributors to the industry in 2020. Sector GDP.
The trade sector is considered the backbone of the economy for good reason. The exchange of goods and services that are produced in one place and sold in another allows for specialized and beneficial overproduction. Selling goods and services outside the local market brings surpluses to the local economy.
Trade and export of fuel industry such as trucking, in addition to driving industry such as manufacturing and agriculture, industry that employed 18,772 workers in Oregon in 2021 and paid $ 846 million, or Warehouse storage and storage, industry wages of $ 642 million paid by hiring 18,819 workers.
The trade sector also pays wages to the local workforce. It has a direct impact on real estate through rent and home sales, fueling local businesses in non-trading sectors such as retail, leisure and hospitality, education and health services.
By the way, even sub-industries or individual companies within these three traditionally non-trading sectors can be considered tradable under certain circumstances.
Christopher Rich is a Senior Economist in the Oregon Employment Department. He may reach at 541-519-0315.
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