Nevada companies exported $2.78 billion in products through the first six months of the year, a 50 percent increase from a year ago, ranking the Silver State second in the nation for export growth, an economic development official said Tuesday.
The increase follows three years of continued growth in which Nevada ranked among the top three of all states in growth percentage nationwide.
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Part of the export growth is attributed to higher prices for precious metals such as gold and silver, said Al DiStefano, director of global trade and investment for the Nevada Commission on Economic Development.
Excluding the metals, Nevada's exports still grew 39 percent with 60 of the 90 product categories showing increases in the first half of the year, he said.
Export of sports and gaming equipment increased 103 percent; metallic ores 143 percent; nonmetallic minerals 284 percent; leather products 471 percent; articles made of rubber 220 percent; and articles made of nickel 244 percent.
"Nevada exporters are doing a fine job," DiStefano said. "Nevada companies that are growing here are doing better in the world market and our continued growth in precious metals, particularly gold, is still growing rapidly."
Much of the growth is "organic," from companies that are already here, he said. But a big factor in the export growth is relocation of companies from other states, especially California in the last couple of years, and the exports they bring with them.
"This new legislation about greenhouse gases and emissions is probably going to push more companies from California to come here. It's getting too expensive to comply with California regulations," DiStefano said.
In total dollar figures for exports, Texas ranks No. 1 with $71.9 million in exports through the first six months, up 13.8 percent from a year ago, and California is No. 2 at $62.9 billion, up 9.7 percent. Nevada moved up to No. 34 from No. 47 six years ago.
"Our phenomenal, double-digit growth continues across almost every product category to multiple countries," Lt. Gov. Lorraine Hunt said.
