Connecticut’s commodity exports fell 15% to $ 13.8 billion in 2020, after reaching $ 16.24 billion the year before.
The June issue of Connecticut Economic Digest, produced by the state Department of Labor and the Department of Economic and Community Development, indicates COVID-19-related disruption for falling exports.
“COVID-19 has had far-reaching impacts on trade in 2020, leading to economic disruption, production issues, and reductions in supply and demand,” the digest notes.
“Consumer demand has increased sharply for some products, while others have experienced dramatic declines. Extraordinary levels of uncertainty have caused consumers to delay major purchases and durable goods.
“As the virus spread along trade and travel routes, COVID-19 caused a significant drop in international trade and disrupted everything, as blockages and slowing border crossings resulted in disruption in the supply chain. supply and increased trade costs. “
All but one of the state’s export sectors saw declines last year, except pharmaceuticals, as exports of drugs, pharmaceuticals, dressings and immunologicals increased further. by 138%.
“The state’s historically strong export sectors have plummeted, including aircraft parts, industrial machinery, electrical machinery, largely linked to COVID-19 reverberations in the aviation industry, to travel limits and global border closures, ”the Digest reported.
Aerospace parts and components, the first state’s main export sector, fell 30% last year to $ 4.37 billion.
Exports of industrial machinery fell 6%, optical and medical / surgical instruments fell 5%, electrical machinery fell 10%, and special classification products fell 26%.
The Digest’s export figures do not include the service sector and therefore “do not take into account the devastating impact of COVID-19 on travel, tourism, education of international students, all classified as exports of services”.
Nationally, exports fell 12.89% last year to $ 1.43 trillion from $ 1.64 trillion in 2019, all states except Colorado, the ‘Utah, Oregon and New Jersey, recording declines last year.
Exports to Canada and Mexico, the country’s two main export markets, fell by 12.81% and 17.11% respectively.
Connecticut ranked 28th among states for exports in 2020, with Texas, California, New York, Louisiana and Illinois being the top five exporters in the country.
The New England states exported $ 51.27 billion in merchandise last year, down 9.44% from the previous year.
Of Connecticut’s top 10 international markets, only the Netherlands recorded gains in 2020, with commodity exports increasing 9%, driven by demand for chemicals, dental hygiene and substances. for the preparation of food and drink.
France, a major importer of aerospace parts and components, recorded the largest decline among Connecticut’s major markets, as exports to that country fell 52%.
Exports to Germany, Connecticut’s largest international market, fell 14%, with Canada (-14%), the United Kingdom (-20%), China (-13%) and France completing the five first markets.