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By PBN Staff
By PBN Staff
PROVIDENCE – Rhode Island exports rose $2.7 million, or 1.5 percent, in October, according to an e-forecasting.com report.
The month-over-month increase, which followed a 4.1 percent increase in exports between August and September, brought Rhode Island’s total exports for October to a seasonally adjusted $184.1 million.
On a year-over-year basis, October exports represented a 0.9 percent decline.
Foreign sales of manufactured goods accounted for roughly 65 percent of Rhode Island’s exports in October, totaling $118.1 million, or 0.7 percent more than the previous month’s total and 1.5 percent more than the total in October 2012.
The $66 million total of nonmanufactured exports in October represented a month-over-month increase of 3 percent and a year-over-year decline of 4.9 percent. Nonmanufactured goods include agricultural goods, mining products and re-exports.
Rhode Island ranked 45th in export growth among the 50 states during the first 10 months of 2013, moving up one spot from 46th. Between January and October, Rhode Island exports decreased 9.4 percent compared with the first 10 months of 2012. Only Nevada, Maine, New Mexico, North Dakota and West Virginia registered slower export growth for the first 10 months of the year.
U.S. exports for October totaled a seasonally adjusted $135.3 billion, a 2.2 percent increase over the previous month and a 5.7 percent increase over the same period last year.