Northeast Ohio’s export activity approached $29 billion in 2014, a 16% increase since 2006 and 40% since pre-recession levels in 2009, reports the quarterly Cleveland Plus Economic Review released today by Team NEO.
“Our strong manufacturing base, along with the region’s transportation/logistics network and business resources, contributes to this upward trend,” said Bill Koehler, CEO of Team NEO. “Manufactured goods represent 81% of all exports from Northeast Ohio.”
Statistics from the report include:
- Transportation Equipment and Chemical Manufacturing Top List of Export Goods
- In 2014, exports for transportation equipment were at $4.2 billion, with chemical manufacturing exports at $3.5 billion. These two industries represent 27% of total goods exported in 2014.
- Consumer Food and Beverage Companies Lead Growth Segments
- From 2006 to 2014, beverage and tobacco exports increased 144%, to $57 million. Food manufacturing increased 63% for this same time period, to $916 million.
- Royalties Rank Highest Among Services Exported
- In addition to transporting goods, Northeast Ohio provides a variety of services to companies overseas. Royalties topped this list at $1.34 billion, followed by travel and tourism, and financial services, each approaching the $1 billion mark.