Survey Finds More Businesses Engaged in International Trade

This morning, CBIA released the 2013 International Trade Survey of Connecticut Businesses, which illustrates the increasingly important role exporting plays in the state’s economy.

CBIA surveyed 1,188 Connecticut businesses most likely to be involved in exporting, including manufacturers, technology and R&D companies, wholesalers, retailers, agricultural business, and larger insurance and financial services providers.

Nearly three-quarters (71%) of respondents say they are engaged in exporting, up 36 percentage points from 2007.

The rise in Connecticut exports mirrors a national trend. For the first time since 2007, growth in U.S. exports outpaced the growth of imports in both dollar and percentage terms in 2012, a pattern that continued into 2013.