Kentucky 2016 exports break record

FRANKFORT, Ky. (WTVQ) – Kentucky’s exports broke an all-time record in 2016 with $29.24 billion in goods and services shipped abroad from the Commonwealth, a 5.8-percent increase from 2015.

Aerospace products and parts led all categories with more than $10.85 billion in goods exported internationally, an increase of more than 24 percent over 2015. Kentucky ranked second nationally for 2016 in aerospace-related exports.

Overall, the state’s 2016 exports increased $1.6 billion over the 2015 total. That placed Kentucky eighth among all U.S. states by percentage increase, according to data from the U.S. Census Bureau Foreign Trade Division and WISERTrade.

Kentucky exported to 199 nations in 2016, with Canada, the United Kingdom, France, Mexico and Brazil as the states top five trade partners. The Commonwealth sold nearly $7.5 billion in products and services to Canada last year, nearly three times as much as the next destination, the U.K.

Among the states largest percentage increases by destination in 2016 were France (59.8 percent), Malaysia (31.8 percent), the Republic of Korea (28.2 percent), Hong Kong (26.8 percent) and Brazil (17.6 percent).

By industry category, following aerospace were motor vehicles ($3.32 billion), pharmaceuticals and medicines ($1.81 billion), motor vehicle parts ($1.76 billion), resin and synthetic rubber, artificial and synthetic fiber and filament ($1.1 billion) and basic chemicals ($741 million). Those categories are established under the North American Industry Classification System.

Aerospace saw the highest percentage increase in 2016 (24.3 percent), followed by motor vehicle parts (12 percent) and pharmaceuticals and medicines (9 percent).

The Commonwealth ranks sixth nationally in motor vehicle exports for 2016. In total, Kentuckys automotive industry with parts, bodies, trailers and whole vehicles combined exported nearly $5.5 billion in products throughout 2016.

The states horses, live, purebred breeding industry ranked first in the nation in 2016, with $195.2 million exported, a 33.1 percent increase over the previous year.

For more information on Kentucky exports, visit www.kyexports.com.