Click here to close now.




















Welcome!

News Feed Item

Oregon's Export Industry Lags Nation In Recovering From Recession

But 2014 Data Trending Better; Exports Remain Major Segment of State Economy

LOS ANGELES, July 31, 2014 /PRNewswire/ -- A new economic analysis finds that since the recession, the recovery of Oregon's export industry has lagged the recovery in the nation, and as a result, the state's share of total U.S. exports has declined. According to the analysis by Beacon Economics, from 1997 to 2008, the decade prior to the downturn, average real growth for exports was nearly 7% annually in Oregon and just over 4% in the U.S. overall. Since the recession ended however, Oregon's export growth has averaged just 2% annually compared to 3% in the U.S. as a whole.

The report, which culls and examines data from the Foreign Trade Division of the U.S. Census Bureau, says the sluggish recovery has led Oregon's share of total U.S. exports to fall from 1.5% in 2008 to 1.2% in 2013. As of 2013, Oregon's real exports remain 12.5% below their previous peak level, set in 2008. Oregon's lackluster performance in recent years is due in large part to reduced demand for personal computers. Semiconductors from Intel Corporation are one of highest valued exports for the state, and as the popularity of smartphones and tablets has increased demand for PC chips, particularly from China, Oregon's largest trading partner, has dampened.

But the news is not all grim. In 2014, the trends have turned more positive. During the first five months of 2014, Oregon's exports started to surge and have increased in real terms by 14% over 2013 exports (year-to-date). This also eclipses national export growth, which was just 3.3% over the same time. These trends are especially important because Oregon's export trade industry represents a significant component of the overall economy, accounting for 9% of total economic output in the state (without multiplier effects), according to the analysis.

The study's two lead authors, Beacon Economics' Founding Partner Christopher Thornberg and Senior Research Associate Eric Meux, say the future outlook for Oregon exports is also rosier. "Today, the U.S. dollar is 25% cheaper relative to the currencies of our trading partners than it was 15 years ago—this means the U.S. export sector is as competitive as it has been in a very long time," says Thornberg. "For Oregon, where trade plays a major role in the economy, this will be an important source of growth and economic development as the global economy continues gaining traction."

Additional key findings include:

  • From 2010 to 2011, real exports declined by 8.4% in Oregon, following a 14% increase from 2009 to 2010. Real exports then ticked up slightly in 2012 (+0.3%), and grew modestly in 2013 (+2.2%).
  • Over the long-term, Oregon export prices have trended very closely with prices of exports in the U.S overall. In recent years however, export prices have been higher in Oregon, indicating that export firms in the state are able to achieve higher profits.
  • The post recession slowdown in Oregon's export trade is primarily due to weakness in the state's top commodities. The number one commodity, computer and electronic products, has averaged 1.3% annual growth since 2009 compared to an average 12% annual growth prior to the recession. Oregon's second top commodity, agricultural products, has averaged -6.6% annual growth since 2009 and averaged -0.2% annual growth prior to the downturn.
  • The value of Oregon's exports to China jumped 448% over the past decade.

Download the full analysis here.

SOURCE Beacon Economics

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Learn how to solve the problem of keeping files in sync between multiple Docker containers. In his session at 16th Cloud Expo, Aaron Brongersma, Senior Infrastructure Engineer at Modulus, discussed using rsync, GlusterFS, EBS and Bit Torrent Sync. He broke down the tools that are needed to help create a seamless user experience. In the end, can we have an environment where we can easily move Docker containers, servers, and volumes without impacting our applications? He shared his results so yo...
Palerra, the cloud security automation company, announced enhanced support for Amazon AWS, allowing IT security and DevOps teams to automate activity and configuration monitoring, anomaly detection, and orchestrated remediation, thereby meeting compliance mandates within complex infrastructure deployments. "Monitoring and threat detection for AWS is a non-trivial task. While Amazon's flexible environment facilitates successful DevOps implementations, it adds another layer, which can become a ...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...