Exports continue upward trend

Alaska's export sales of goods to foreign countries continued to rise in the third quarter of 2003, increasing by $106 million to an even $2.2 billion, 5 percent more than the same period last year.

The state's largest export, seafood, rose by $54.5 million, accounting for just over $1.2 billion in sales this year. Precious metals rose $50 million; zinc, which drives that category of exports, has totaled more than $234 million in the first nine months of 2003.

According to a figures released by the Department of Community and Economic Development's Division of Trade and Development, the increase comes after a 13 percent surge in export numbers in the first half of 2003, compared to a 1 percent decline in the first half of 2002.

"I'm very pleased to see these kind of positive trade numbers, because expanding international trade brings new revenue to our state, creates jobs in our economy and provides hope for thousands of Alaskans across the state," said Gov. Frank Murkowski.

The U.S. Department of Commerce estimates that every $1 billion of exports creates 25,000 jobs in the local area. Using these figures, the export growth in 2003 helped contribute 2,650 new jobs for Alaskans.

Japan continues to be the top destination for Alaska's commodities.

Japan's total import of Alaska products was $824 million through September 2003, a decline of nine percent from last year. Korea and Canada are the state's export products second and third destinations; Korea spent $468 million through September, rising 33 percent, and Canada rose 23 percent for a total of $147 million.

"Alaska is at the beginning of a new era for resource development and international exports," said Mark Edwards, state economist for DCED.

Murkowski agrees.

"It is continuing evidence that natural resources are the foundation of our prosperity," he said.