Oklahoma City_Press Release_The State Chamber of Oklahoma reported today that total Oklahoma merchandise exports in 2007 exceeded $4.5 billion, the highest figure recently recorded. Canada is Oklahoma's largest export destination, accounting for 35.7 percent of the state's total global exports, followed by Mexico and Japan.
Data from the U.S. Department of Commerce estimates nearly one-fifth of all manufacturing workers in the state depend on exports for their job. This includes 2,200 companies, 84 percent of which employ fewer than 500 workers. These figures do not include jobs associated with agricultural, mineral or service exports, nor do they include shipments of goods to other states that are in turn exported.
"We are pleased to see Oklahoma businesses so engaged in the export economy," said Mike Seney, senior vice president of operations at The State Chamber. "Maintaining quality relationships with our trade partners promotes growth in our state and continued job opportunity for our work force."
Oklahoma exports more than 30 different categories of products. Among the top goods sold from 2006 to 2007 were oil and gas, which grew 100.6 percent, food and kindred products, which rose 42.6 percent, and fabricated metal products, which increased 17.1 percent.
International investment in Oklahoma is also high, with U.S. subsidiaries of foreign-owned companies employing 34,800 Oklahomans. These foreign companies pay an average salary of more than $66,000 annually - 32 percent higher than average compensation in the state.
To read the "2008 Oklahoma Export Statistics Report," please visit www.okstatechamber.com/OK08ExpReport4_08.pdf.