Tag Archives: exports

Export growth boosts metro Knoxville economy

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Exports are playing a significant role in Knoxville’s continuing economic recovery, according to a new Brookings Institution report
The value of the metro area’s exports last year totaled $4.29 billion, or 12.7 percent of the region’s total output, according to a the “Export Nation 2013” report released this week.
Motor vehicle parts and miscellaneous fabricated metal products were two largest export sectors at 10. 5 percent and 10.3 percent, respectively, of the region’s export total.
The next largest export sectors were precision instruments, financial services and management & consulting, all at slightly more than 3 percent of the region’s total.
Knoxville ranked 73rd out of the 100 largest metro areas in total value of exports. However, Knoxville’s export growth in the last three years ranked among the best in the country, according to Brookings.
Knoxville’s 11 percent export growth from 2009-2012 ranked 13th nationally.
“Exports have been a critical driver of the post-recession recovery in the U.S. and its metro areas,” said Brad McDearman, director of the Brookings Institution’s Metropolitan Export Initiative and co-author of the report. “Metro leaders that make boosting exports an economic development priority are better positioning their regions for success in the more globally-connected 21st century economy.”
Click here for the full Brookings report.

Americans drink to an improving economy

Americans feel better about the economy and they’re buying more premium-priced spirits to celebrate.051911jack_atb_01.JPG

The Distilled Spirits Council of the United States on Monday reported increased revenue, volume and record exports in 2011.

Revenue and volume have returned to pre-recession levels, driven by an improving economy, consumer confidence and product innovation, the council said in its annual industry review for Wall Street analysts.

“These results show that the hospitality industry is helping drive the national recovery and job creation, but it remains critical that legislators don’t derail future economic growth through higher taxes,” said Cressy.

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Milken: Economy not as gloomy as you may think

In contrast to the depressing attitude of many pundits and politicians, a new study by the Milken Institute says there is clear evidence that the economy is doing better than generally believed.

“Despite the formidable obstacles in its path, the U.S. economy remains flexible and resilient — and right now, it has more underlying momentum than is generally acknowledged. Our projections show cause for measured optimism: A return to modest but sustainable growth is close at hand,” says the report “From Recession to Recovery: Analyzing America’s Return to Growth”.

Tha author of the California think tank’s report, Ross C. DeVol, admits his analysis runs counter to “the dark tone of the current debate about where the economy is headed.”

 

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Brookings: Metro markets key to export growth

Metropolitan areas will play a major role in increasing U.S. exports, says a new study by the Brookings Institution, a Washington, D.C.-based public policy organization.

Knoxville is one of the smaller metro markets in the country, but it is holding its own when it comes to export growth, according to “Export Nation,” the study released Monday.

Metro Knoxville currently is the 72nd largest export market in the country, producing about $3.5 billion worth of exported goods and services, the study says.

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