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Oklahoma Exports

Oklahoma may make up only a tiny fraction of the world’s population but our exports make our economic impact much larger.
Oklahoma Exports

Oklahoma Exports

For more information visit these links:

Oklahoma Department of Commerce

Frontier Electronic Systems

Show Details

Show 1438: Oklahoma Exports
Air Date: September 21, 2014

 

Transcript

Rob McClendon: Hello, everyone. Thanks for joining us here on “Horizon.” Well, for Oklahoma companies the decision to export or not really comes down to some simple math. When measured by population Oklahoma is a relatively small state. At 3.8 million, we make up just over 1 percent of the U.S. population of 323 million. But it’s when you look at the number of people around the globe, 7.2 billion and quickly growing, it’s easy to see the importance of exports. There is just more of them than there are of us. And while we may only make up a tiny fraction of the world’s population, Oklahoma’s economic impact is much larger.

Rob McClendon: Last year Oklahoma exports hit a record $6.9 billion. And just where are they heading? Well, in great part, up north.

Deidre Myers: The top country for our exports is definitely Canada. They comprise almost 30 percent of our exports. And of course that’s very oriented towards energy. The plays up in the middle section of Canada and western Canada are very important to our pumps and valve exports.

Rob: Deidre Myers is with Oklahoma’s Department of Commerce and says with exports of 1.9 billion last year, Canada is far and away our largest trading partner followed by Mexico, China, Japan and Germany. Yet it was exports to Egypt that grew the most last year, with sales up 191 percent. Other growing markets for Oklahoma’s goods and products are Russia, Israel, Saudi Arabia and, once again, Germany. And the top categories for export, well, they include machinery, transportation equipment and fabricated metal products, often for the energy or aerospace sector. Brenda Rolls is the president and CEO of Frontier Electronic Systems.

Brenda Rolls: One of the things about a company like Frontier in Oklahoma is most of our customers are not local, so we’re bringing in revenue dollars from outside the state.

Rob: Agricultural exports also are setting a record pace. The latest numbers show about 1.9 billion in international sales, a growth that’s spurred by an expanding middle class in the developing world, hungry for high-quality, American-grown products. In fact growth in exports of food and autos helped the U.S. trade deficit narrow in July to its lowest point in six months as exports rose to a record high.