R.I. 28th in nation for YTD export decline in July

RHODE ISLAND'S exports totaled $195 million in July, a 22.2 percent drop compared with July 2014, according to e-forecasting.com. / COURTESY E-FORECASTING.COM
RHODE ISLAND'S exports totaled $195 million in July, a 22.2 percent drop compared with July 2014, according to e-forecasting.com. / COURTESY E-FORECASTING.COM

PROVIDENCE – Rhode Island ranked 28th in the nation for a 4.2 percent drop in exports for the first seven months of the year compared with the same period last year, according to e-forecasting.com.
Hawaii again ranked first for 55.3 percent export growth during the same period, e-forecasting.com said. Coming in last was Wyoming for its 26.5 percent drop in exports. Rhode Island’s rank fell 14 spots from June, when it ranked 14th for its 0.1 percent decline year-over-year in exports for the first six months of the year.
The nation saw exports fall through the first seven months of the year by 3 percent.
For the month of July, Rhode Island’s exports totaled $195 million, a 22.2 percent drop compared with July 2014.
Of that number, manufacturing accounted for $112.3 million, a 16 percent drop from a year ago, and farming and mining, $82.7 million, a 29.3 percent drop from July 2014.
The United States also experienced a similar downward trend, with $128.2 billion in exports in July, a 7.4 percent drop compared with the prior year period.

However, the numbers improved when comparing month to month. For example, exports grew nearly 13 percent from June to July in Rhode Island, and also increased nationwide 0.5 percent, e-forecasting.com said.

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