Contact Us
Make My Homepage

New Jersey’s Global Trade Up In 2011 [AUDIO]

Flickr User Akira Ohgaki

Exports to European countries may have gone down as a result of the economic slowdown overseas, but New Jersey’s global trade has seen its second consecutive annual hike.

Figures released by the World Institute for Strategic Economic Research finds the dollar value of exports from New Jersey increased by about 19 percent in 2011 over the year before, to $38.2 billion.

“Exports are really dependent on the GDP, of the growth rate of the other countries we trade with. It’s not really exchange rates as some may think,” said Farrokh Langdana, Director of the Executive MBA Program at Rutgers University. “People think, the dollar’s strong or the dollar’s weak and that’s only a distant second. Exchange rates aren’t the big determining factor. It’s rate of growth.”

“While New Jersey generally trades most with the United Kingdom, we also trade with Canada, South Korea and Mexico and those countries are doing rather well,” said Langdana.

The popular items New Jersey exports include petroleum oil products, cosmetics, scrap metal, platinum, aircraft parts and pharmaceuticals.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Best of NJ101.5

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for New Jersey Insiders quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive New Jersey Insiders contests, events, coupons, presales, and much more delivered to you for FREE.