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By PBN Staff
By PBN Staff
PROVIDENCE – Rhode Island exports fell by $10.7 million, or 5.6 percent on a month-over-month basis, in December, according to an e-forecasting.com report.
The decline, which followed a 2.9 percent increase in exports between October and November, brought Rhode Island’s total exports for December to a seasonally adjusted $178.7 million.
The drop in December represented the first month-to-month decline in statewide exports since July 2013.
On a year-over-year basis, December exports represented a 6.5 percent decline.
Foreign sales of manufactured goods accounted for roughly 64 percent of Rhode Island’s exports in December, totaling $114.9 million. Shipments abroad from Rhode Island manufacturers in December fell seven-tenths of a percent compared with the previous month, and dropped 10.3 percent compared with December 2012.
The $63.8 million total of non-manufactured exports in December represented a month-over-month decline of 13.4 percent and a year-over-year increase of 1.3 percent. Non-manufactured goods include agricultural goods, mining products and re-exports.
Rhode Island ranked 44th in export growth among the 50 states during the full year of 2013. Between January and December, Rhode Island exports decreased 9.1 percent compared with 2012. Only Maine, North Dakota, Nevada, Utah, Hawaii and West Virginia registered larger percentage declines of exports for 2013.
U.S. exports for December totaled a seasonally adjusted $132.8 billion. The December figure represented a 3.1 percent decrease over the previous month, but increased one-tenth of a percent compared with December 2012.