Governor Kay Ivey announced that Alabama's economy continues to break records. Two weeks ago, the Governor reported that the Port of Mobile has an annual economic impact of $98 billion for the state. On Monday, she released data that provides an even bigger picture.
Alabama's annual export record was broken in 2023, with goods and services totaling $27.4 billion that year, according to the governor and the Alabama Department of Commerce.
In 2023, transportation equipment, including automobiles, auto parts, ships, and aerospace products, remained Alabama's No. 1 export item at $14.8 billion. Last year's export value also increased by 6% from the previous year's total of $25.5 billion.
“Exports serve as a fundamental economic pillar supporting Alabama's growth, driving both new investment and job creation here at home,” Ivey said of the new record. “The record success of our nation's exporters has expanded the reach of the 'Made in Alabama' brand to reflect the high demand for domestically produced products.”
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According to the Department of Commerce, the top destinations for Alabama's exports in 2023 are:
- Germany: $5.1 billion (up 17%)
- Canada: $3.9 billion (down 2%)
- China: $3.8 billion (up 15%)
- Mexico: $3.2 billion (up 16%)
- South Korea: $1.2 billion (up 15%)
Alabama Department of Commerce Secretary Ellen McNair expects even more growth this year.
“This second consecutive year of export records highlights the fact that businesses across Alabama continue to provide the highest quality products and services demanded by customers around the world,” McNair said. “Looking to the future, there is potential for further export growth, and we are already opening new and expanding markets for Alabama companies.”
Christina Stimpson, director of the Commerce Department's Bureau of International Trade, said it's gratifying to see the efforts of Alabama businesses and organizations being used around the world.
“Despite the geopolitical challenges, their dedication has allowed us to see a record-breaking second year of success,” Stimpson said. “When we find opportunities overseas, we have a real impact in strengthening local communities.”
“Increased exports mean economic growth.”
Exports of aerospace products and parts also increased, reaching $2.1 billion last year, an increase of 23% year-on-year.
Austin Shipley is a staff writer at Yellowhammer News.
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