New Jersey State Report

Transcription

1 Trade & Commercial Office Historical Trade Relationships Between the United Arab Emirates and the United States New Jersey State Report Merchandise Exports and State Ranking 2. Top- Four Export Sectors to the UAE 3. Service Companies Exporting to the UAE 4. Positive Effects of Trade on 5. Congressional Districts Most Affected by Exports. Supporting Data Tables

2 New Jersey, State- Wide Summary Merchandise Exports Exports to the UAE by State ($ millions) Rank State % of US Total US Total 2,713 22, , , , % 1 Washington 710 5, ,031. 3, , % 2 Texas 344 2,190. 2,84.9 2,35.3 7, % Connecticut , , , , % 7 New Jersey ,01.4 2, % 8 Georgia , % Among US states, New Jersey is the 7 th largest merchandise exporter to the UAE, growing from $57 million in 1999 to $1 billion in Rank Country ($ millions) New Jersey Exports by Country Real GDP (PPP) Rank Major Export Items World 110,82 n/a Platinum, Oil, Cars, Precious Metal Scrap 1 Canada 20,5 14 Oil, Orange Juice, Platinum 2 Mexico,95 10 Precious Metal Scrap, Aerospace, Gold 12 France 2,71 7 Aerospace, Oil, Beauty Products 13 UAE 2,74 31 Perfume, Cars, Transistors 14 Israel 2,40 54 Oil, Mineral Oil Additives, Computers. UAE ranked 13 th among New Jersey s export markets, although the UAE s economy is only the 31 st largest in the world. Sector ($1,000) Exports to the UAE Share of Total NJ Exports to the UAE UAE Share of NJ Exports to All World Markets Perfume 124,007 4.% 11.9% Cars 593, % 14.4% Computers 530, % 51.0% Mobile Phones 382, % 32.5% New Jersey s exports to the UAE are important to key sectors, companies, and regions of the State. Perfume The UAE accounted for $125 million or 11.9% of New Jersey s total exports of perfumes and toilet waters to all export markets during Companies exporting to the UAE include Polytrade America located in Franklin Lakes. Automotive The UAE accounted for $593 million or 14.4% of New Jersey s exports of passenger vehicles to all export markets from 2012 to Companies exporting to the UAE include foreign car companies with U.S. headquarters located in the state such as BMW (Woodcliff Lake), Mercedes- Benz (Montvale) and Volvo (Rockleigh). Hatt Auto Sales is a dealership exporting to the UAE out of Elisabeth. Computers The UAE accounted for $530 million or 51.0% of New Jersey s exports of portable computers to all markets during Companies exporting to the UAE include Jetta International (Monmouth) and ZT Systems (Junction). Mobile Phones The UAE accounted for $383 million or 32.5% of New Jersey s exports of telephones for cellular networks to all export markets from 2012 to Motorola has a location in Glen Rock. 1

3 New Jersey, State- Wide Summary Services Services are a growing component of US and world trade. New Jersey companies selling services to the UAE include the following (non- exhaustive list). Firm Location Type of Service Avaya Basking Ridge Communications Dun & Bradstreet (D&B) Short Hills Business Services - Financial Data Services Hertz Park Ridge Business Services Hill International Inc. Marlton Construction Services Honeywell Morristown Aerospace and Defense Johnson & Johnson New Brunswick Healthcare Kline & Company Little Falls Business Services Langan Engineering & Environmental Elmwood Park Business Services Prudential Newark Insurance: Life, Health (stock) Stoncor Group Inc Maple Shade Treatment & Coating of Metals Wyeth Pharmaceuticals Madison Pharmaceuticals Pramerica Real Estate Investor Newark Real Estate Hertz Park Ridge (NJ) Business Services Exports of goods and services, port activity supporting bilateral trade, and inward capital investment from the UAE all benefit employment. The positive employment effects attributable to New Jersey s exports of manufactured goods to the UAE are the easiest to calculate and the table below summarizes estimated job gains over the 200 through 2014 period. Direct employment refers to manufacturing jobs at exporters. Indirect employment quantifies the estimated job gains in ancillary sectors such as transportation and input suppliers. Induced employment reflects jobs that are generated by the additional spending of earnings resulting from exports. Most of this spending occurs in sectors, such as restaurants and retail, that are unrelated to the exporting sector. Estimated employment in Top- 10 Mfg. Sectors attributable to exports to the UAE* Total related to UAE Direct /Indirect Induced Total exports, All Sectors* ,413 1, , ,94 2, , ,428 3, ,01 1,402 2,43 3, ,91 1,314 3,230 4, ,922 2,038 4,90, ,25 2,523,148 7, ,59 3,170 7,7 8, ,55 3,150 7,715 10,29 Growth 3,722 2,579,302 8,54 * Adjusted based on the share of total state exports to the UAE accounted for by the top- 10 manufacturing sector exports. Sources: Estimated using USATRADE Online and Bureau of Economic Analysis. 2

4 New Jersey Congressional Districts Associated with Top Exports to the UAE New Jersey is an industrial and export- oriented state that produces a wide range of manufactured goods and also serves as a shipping point for products produced in other states. The export activity is concentrated in the Newark/New York area. Industrial activity, as well as the U.S. headquarters of many multinational corporations, is concentrated in the northeastern part of the state. The Sixth Congressional District contains the facilities of several major chemical, pharmaceutical and petroleum companies, Major corporations located in NJ- include International Flavors and Fragrances, Exxon Mobil, and Johnson & Johnson. The category of portable computers is New Jersey s largest value export to the UAE during the period, with exports of more than $339 million, accounting for over 19.2% of total state exports to the UAE, and over 40% of New jersey s total exports of computers to the world. International Flavors & Fragrances is a Fortune 500 company that produces a wide range of soaps, toiletries and personal care products. The company s annual revenue in 2004 was $2.4 billion and it had direct exports to the UAE as well as a sales office in Dubai. IFF operates large manufacturing facilities in Hazlett and South Brunswick, a sales office in Union Beach and facilities in New York City. Exxon Mobil operates a synthetics plant in Edison, NJ where it produces synthetic lube base stocks, lubricants, and fuel additives. Johnson & Johnson is headquartered in New Brunswick, produces many personal care products, and has several manufacturing facilities and research labs in the state. 3

5 The first table below highlights the export trends for the top three product categories exported from New Jersey to the UAE from 1999 through The second table lists the location and congressional districts for the main exporting companies located in each region. Main Exports from New Jersey ($ thousands) Year Perfumes / Lubricating & Deodorants other oils Cars ,8 1, , ,107 1, ,152 2, ,9 4,70 2, ,448 2,24, ,422 3,14 15, ,989 3,72 18, ,831 4,025 17, ,58 19,27 24, ,725 4,434 33, ,538 3,987 41, ,045,859 78, ,239, , ,224, , ,087 1,08 25,531 New Jersey - - Key Manufacturers, Products, Locations, and Congressional Districts Company Product Location District International Flavors & Fragrances Johnson & Johnson ExxonMobil Perfumes, Deodorants Lubricating & other oils Hazlett New Brunswick Edison In addition to the direct exports of the main products manufactured in New Jersey, the state also serves as a transportation hub through the International airport in Newark and extensive maritime facilities. The Port of New York/New Jersey is the largest port complex on the East Coast with major marine terminals in Newark, Elizabeth, and Jersey City (NJ- 10 and NJ- 13). 4