Exporting to foreign countries in the state declined in 2015, according to information from the United States Census Bureau.
Companies in Colorado exported goods to 203 countries during the year, totaling $7.9 billion. By contrast, companies accounted for $8.3 billion in exports in 2014, a 4.2 percent decrease.
Figures show that exports to Mexico increased 1 percent from 2014 and exports to China increased 1.1 percent. Canada, Japan and Malaysia round out the top five markets for Colorado goods and services. Malaysia saw an increase in exports totaling 5.4 percent. Exports to Canada, however, dropped nearly 14.5 percent from 2014, while Japanese exports dropped 8.4 percent.
“There were many head winds facing Colorado exporters in 2015,” said Paul Bergman, director of Commercial Service Denver. “For example, the Canadian dollar lost 15 percent of its value when compared to the U.S. dollar last year, which would make our products more expensive to a Canadian customer.”
The U.S. Commercial Service is trade promotion arm of the U.S. Department of Commerce’s International Trade Administration. U.S. Commercial Service has trade professionals in 100 cities and more than 75 countries to help companies start exporting goods or to assist in increasing sales to global markets.
Bergman also noted last year saw a renewed interest between state and federal entities in supporting Colorado companies with exporting.
“From city and state agencies to the federal government, as well as local economic development agencies, we’re really seeing a bigger push to connect Colorado companies to the global market,” he said. “With nearly 95 percent of all consumers in the world living outside of the United States, varying organizations see the value in ensuring businesses remain globally competitive.”