Exports of products made in South Carolina suffered an impact last year due to the coronavirus pandemic, falling almost 27% from 2019 to a six-year low of $ 30.3 billion, according to a new report from the State Department of Commerce.
Palmetto State was not alone – 44 states experienced declines in exports in 2020, with the country’s total dropping 13.2% to about $ 1.4 trillion, the Census Bureau reported. The drop gave the United States an overall trade deficit of $ 678.7 billion.
“Although the COVID-19 pandemic has disrupted trade around the world, South Carolina continues to fulfill our reputation for producing high quality products and transporting these products globally,” said Bobby Hitt, secretary of state for trade, in a demonstration. “International trade is part of our identity and fundamental to supporting economic prosperity. Moving forward, we will continue to prioritize the growth of our commercial footprint and encourage companies of all sizes to expand their reach into new markets abroad.”
Sports utility vehicles manufactured by BMW in the state and S60 sedans manufactured by Volvo Cars in Lowcountry accounted for nearly $ 12 billion in South Carolina exports through the Port of Charleston and 28% of all U.S. vehicle exports , the best in the country. South Carolina also retained the title of the country’s largest tire exporter, with almost $ 1.5 billion and 38% of the United States’ market share.
South Carolina also overtook Texas to become the nation’s largest ball and roller bearing exporter, sending $ 320 million worth of parts used on a wide range of machines to the foreign market, according to carrier Flexport.
“South Carolina’s economy continues to grow, and the news that the state remains the national leader in tire and passenger vehicle export sales – and the new leader in ball and roller bearings – is proof of international connectivity. of our state, “said the governor. Henry McMaster said in a statement.
The impact of the pandemic on air travel was evident at the Boeing Co. plant in North Charleston, which sent about $ 4 billion in Dreamliner jets to foreign carriers – about a third of the 2019 total.
The ongoing trade war has also scrambled the programming of South Carolina’s major export markets, with Germany becoming the main customer of products from the state of Palmetto, with about $ 4.2 billion in purchases. China, which had been the main export market in 2019, fell to third place, behind second place in Canada.
While South Carolina’s exports declined, imports increased by 1.7% in 2020, to $ 40.1 billion, giving the state of Palmetto a trade deficit of nearly $ 10 billion.
Talk to David Wren at 843-937-5550 or on Twitter at @David_Wren_