NEW JERSEY EXPORTS OUTPACE NATION

TRENTON – On the same day that Governor Jon S. Corzine joined officials at the Port Authority of New York and New Jersey to mark a banner year for the port’s cargo operation, the State of New Jersey released international trade statistics that showed Garden State exports grew faster than the national rate during 2007.

New Jersey, the 9^th largest exporting state in the nation, shipped $30.5 billion in goods overseas last year – an increase of $3.5 billion over 2006. Exports alone support more than 366,000 jobs in the state.

“These jobs and the economic activity they generate are critical to New Jersey, especially in these times of financial uncertainty,” Governor Corzine said.  “We must continue our efforts to keep trade strong in the Garden State and to lead the nation in export growth.”

New Jersey’s exports grew 12.8 percent between 2006 and 2007, exceeding national growth of 12.1 percent in this sector. The state’s greatest trade gains came from increased commerce with several nations; exports to Israel shot up 195 percent last year, shipping to the Republic of South Africa grew 60 percent and trade with India rose 51 percent. Italy, Japan and Singapore also saw Garden State exports increase more than 25 percent in 2007.

The New Jersey statistics mirror growth at the Port Authority facilities, where cargo shipping increased by 4 percent last year when all other United States ports saw growth rates of less than 1 percent. Plans to add 115 acres to the Port Jersey site, a new dockside rail distribution system and efforts underway to increase the depth of the Newark Bay channel to 50 feet will help this economy continue to expand.

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Photos from Governor Corzine's public events are available in the Governor's Newsroom section on the State of New Jersey web page, http://www.nj.gov/governor/news/