Alaska
Edges $4 Billion in Annual Exports –
World Trade Center Alaska Celebrates 20 Year
ANCHORAGE ,Alaska., February 2, 2007 – Alaska’s
international trade reached an important milestone in 2006.
For the first time in its history, Alaska’s yearly
exports to overseas markets were set to top the $4.0 billion
mark in December. News of this approaching milestone was
announced at World Trade Center Alaska’s 2007 Statewide
Economic Forecast Luncheon, conducted in mid-January at the
Sheraton Anchorage Hotel.
“The final 2006 numbers aren’t in yet, but
the data for January through November shows that the state’s
exports have already reached $3.9 billion,” according
to Greg Wolf, Executive Director of World Trade Center
Alaska, in Anchorage. Once the month of December is added,
Wolf expects Alaska’s export total to reach the $4
billion mark. He also indicated that this would mark the
fourth consecutive year of double-digit export growth.
“In some export sectors, the increase can be attributed
to higher prices being realized for these commodities,” said
Wolf. “The minerals sector is a good example: from
2005 to 2006, the market price for zinc, Alaska’s
largest mineral export, doubled in price,” he noted.
Leading the export surge was the increase in value of
mineral and other exports to China and Canada. Shipments
to Korea also rose in 2006, reaching an all-time high.
Exports to China have quadrupled since 2001, topping $400
million in 2006. “China’s economic rise and
its voracious appetite for natural resources has been the
predominant force influencing Alaska’s export growth
over the past five or six years,” said Wolf, who
has been an economic development professional and
export advocate in Alaska for the past 18 years. “Not
only are they buying more of our resources, but this increase
in demand from China and other rapidly growing economies
has led to higher market prices,” he said.
Amidst the cheer for Alaska’s good fortune, Wolf
also noted that his organization, World Trade Center Alaska,
turns 20 this year. “From our beginnings in 1987,
we have grown as an organization and have worked with many
Alaska companies to find and pursue business opportunities
overseas” he continued. The Center has been particularly
effective helping Alaskan companies find export opportunities
in high growth Asian markets and the Russian Far East. “Many
in the US forget that our western states are very much
a part of the Asia-Pacific economy,” Wolf noted. “California,
for example, ships about 30 percent of their exports to
Asia-Pacific countries, while Washington and Alaska send
40 and 65 percent, respectively. If you rank Alaska in
terms of the percentage of exports relative to its gross
state product, we would rank eighth in the nation; fourth
if export value per capita is considered. The world’s
appetite for healthy diets is increasingly being met by
the wild-caught bounty of Alaska’s vast ocean resource,” Wolf
said.
One of Alaska’s major shipping companies, Lynden
International, has been a member of World Trade Center
Alaska from its earliest days. “I’ve been delighted
to see the growth in this organization’s membership
over the years, to see it parallel the rise in exports,” said
Dennis Mitchell, Regional Manager Alaska, for Lynden. “But
their success is due to the service they provide Alaska’s
businesses, including ours. Being a member opens a lot
of doors in overseas markets. For 20 years, they’ve
been doing a remarkable job, building economic ties with
our important trading partner nations,” he added.
Tom Case, Dean of the University of Alaska, Anchorage,
College of Business and Public Policy, said that in a state
primarily engaged in natural resource extraction, the World
Trade Center is also an important business ally in terms
of finding new market opportunities for value-added products.
”WTC Alaska provides businesses with the resources and technical assistance
they need to take their domestic-only operations to the next level. While being
an asset to current businesses, they’ve also provided a wonderful hands-on
experience for business students, our next generation of industry leaders,” Case
said.
Aside from technical assistance and resource information,
WTC Alaska puts on seminars, has monthly programs, holds
annual economic forecast events and leads international
trade missions. The organization is funded by a combination
of private and public sector support. “In
that regard, our mission is for all Alaskan businesses,” Wolf
said.
“We are on the cutting edge to find the
next big markets for Alaska's exporters,” Wolf
continued. “Every day we get to work with some of
the most innovative and progressive companies in the state.
It's great work because exports are a growing component
of the state's economy. And that means exciting days ahead
for Alaska and the Trade Center, one of 300 centers
in 78 countries.”
For more information about World Trade Center Alaska,
visit the website: http://www.wtcak.org/ or call 907 278-7233.
###
Note Editors:
Greg Wolf is available for interviews to expand on the
positive outlook for Alaska trade. Please contact Greg
Galik for help.
A segment graph is attached detailing the makeup of Alaska
trading – by country.
A full copy of Greg Wolf’s presentation regarding
Alaska Trade is on their website:
http://www.wtcak.org/EF2007R/GWEF2007.pdf |
