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Ohio Exports to a Wide Range of EU Countries

April 21, 2011
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As I recently wrote in Ohio’s Exports to the EU Grow in 2010, Ohio’s exports to the 27 member states of the EU rebounded in 2010 after falling in 2009.  However, the Buckeye State’s export growth was not uniform across the 27 countries.  Despite Greece, Ireland, and Portugal all being in the news for receiving bailouts, Ohio’s exports to the 16 countries using eh euro actually grew by 42 percent over 2009, compared to a ten percent increase for the EU as a whole.  Overall, 16 of the 27 EU members, including nine countries that use the euro, bought more goods from Ohio in 2010 than in 2009 (indicated by the red points in figure 1).

Source: World Institute for Strategic Economic Research

Figure 1 also shows the huge discrepancy between the size of the European markets for Ohio’s exports, ranging from almost $2 billion in France to a little over $1 million worth of goods being shipped to Malta.  Six countries bought more than $250 million worth of Ohio exports, accounting for 85% of all Ohio exports to the EU (trade is slightly more concentrated in Indiana, as seven countries were the destination for 90% of all exports).  As figure 2 shows, among these heavyweights, France’s imports grew by a staggering 142 percent; while four others experienced more modest growth rates between of between 11 and 23 percent (trade with the Netherlands actually shrank by four percent).

Source: World Institute for Strategic Economic Research

Among the smaller countries, figure 1 shows an interesting trend of trade appearing to decrease in general with the smaller European markets while growing with the larger markets.  Also, among the countries that were forced to accept bailouts in the last year, the results are mixed.  Portugal actually imported 144 percent more goods in 2010 than 2009.  On the other hand, exports to Greece and Ireland declined over that period.  While Irish imports from the Buckeye State fell by four percent, they declined by 98 percent in Greece.  Greece’s economic troubles probably accounted for part of this collapse in imports, but more importantly, Greece imported an exceptionally larger value of goods in 2009.  In 2008, trade was worth $27.7 million, but in 2008, the value of Ohio’s exports skyrocketed to $1.125 billion, before declining to $19 million in 2010.

Source: World Institute for Strategic Economic Research

Figure 3 attempts to gauge Ohio’s exports to European countries in comparison to the size of that country’s economy.  Similar to Indiana, the largest and most open EU economies import a greater percentage of their GDP than many smaller countries.  For instance, Belgium, France, Ireland, Netherlands, and United Kingdom were above the average for both states.  One country missing from Ohio’s list of major trading partners is Germany, which imported almost $800 million less from Ohio than from Indiana in 2010.  The most striking difference is that Hungary ranked third on figure 3.  While the country was 11th in total imports from Ohio, trade has steadily grown between the Central European country and Ohio to $95 million in 2010.

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