Arizona reports rebound in exports during 2021

ARIZONA – Exports by Arizona companies increased by more than 20% during 2021, reaching near record levels set before the pandemic, the Commerce Authority released in its most recent trade report.

The trade body said exports reached US$24.1 billion last year, up from US$19.8 billion in 2020 and just below the US$24.6 billion mark set in 2019.

Semiconductor exports in Arizona experienced a 50.5% increase to US$4.2 billion, the fourth highest in the United States.

Increases in other industries included US$3.8 billion (52.9%) in aerospace products and parts, ranking ninth nationally; US$2 billion (37.5%) in the metallic minerals sector.

In addition, US$1.2 billion (21.3%) was recorded in the navigation, measuring, electromedical and control instruments sector; US$1 billion (18.3%) in the electrical equipment and components industry, unclassified; also, Arizona’s manufacturing exports increased more than 20% in 2021, reaching US$20.2 billion.

Mexico and Canada ranked as Arizona’s largest export partners, with countries such as Ireland, China, New Zealand, Colombia and Turkey seeing considerable increases in exported goods over the past year.

According to FDI Markets, between January 2016 and December 2021, Arizona experienced 140 business attractions or expansions of international companies, representing the addition of 18,560 projected jobs and more than US$19 billion in projected capital investment.

Source: MEXICONOW Staff