R.I. exports drop 7.1% in April

Rhode Island exports declined 7.1 percent in April compared with the previous month but increased 10.5 percent on a year-over-year basis, according to an e-forecasting.com report released June 17. More

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R.I. exports drop 7.1% in April

COURTESY E-FORECASTING.COM
AFTER AN UPTICK in Rhode Island exports in March, the Ocean State saw its foreign sales drop 7.1 percent in April to a seasonally adjusted $171.8 million. Nationally, exports declined four-tenths of a percent in April to $135 billion.
Posted 6/18/14

PROVIDENCE – Rhode Island exports declined 7.1 percent in April compared with the previous month but increased 10.5 percent on a year-over-year basis, according to an e-forecasting.com report released June 17.

Foreign sales of goods from the Ocean State for the month of April totaled $171.8 million, compared with $184.9 million in March and $155.5 million in April 2013.

Exports of manufactured goods were largely unchanged month over month, totaling $117.3 million, or one-tenth of a percent more than the $117.2 million in manufacturing exports for March. On a year-over-year basis, shipments abroad from Rhode Island manufacturers climbed 6.8 percent.

The $54.5 million total of nonmanufactured exports in April represented a month-over-month decline of 19.5 percent and a year-over-year improvement of 19.3 percent. Nonmanufactured goods include agricultural goods, mining products and re-exports.

Rhode Island ranked No. 34 among the 50 states in terms of growth or reduction in exports during the first four months of 2014, e-forecasting.com reported, an improvement over its March ranking at No. 41. Through April, Rhode Island exports dropped 4.8 percent compared with the same period last year.

U.S. exports for April totaled a seasonally adjusted $135.1 billion, representing a decline of four-tenths of a percent over the previous month and an increase of 2.9 percent compared with April 2013.

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