Alaska Edges $4 Billion in Annual Exports - World Trade Center Alaska Celebrates 20 Years
Posted on: Wednesday, 7 February 2007, 21:00 CST
ANCHORAGE, Alaska, Feb. 7 /PRNewswire/ -- Alaska's yearly exports to overseas markets were set to top $4.0 billion in December, for the first time. The news was announced at World Trade Center Alaska's (WTC) 2007 Economic Forecast Luncheon in January.
"The final 2006 numbers aren't in, but data through November shows exports have already reached $3.9 billion," according to Greg Wolf, Executive Director of WTC, in Anchorage.
"In some sectors, the increase is due to higher prices," said Wolf. "The minerals sector for example: from 2005 to 2006, the market price for zinc, Alaska's largest mineral export, doubled in price," he noted.
China and Canada led the increase in exports. Shipments to Korea also reached an all-time high. Exports to China have quadrupled since 2001, topping $400 million in 2006. "China's appetite for natural resources has been a major influence in Alaska's export growth over the past five or six years," said Wolf, an economic development and export professional in Alaska for the past 18 years.
Amidst the cheer for Alaska's boom, Wolf also noted that WTC Alaska turns 20 this year. "We work with Alaska companies to find and pursue business opportunities overseas," he continued. The Center has been particularly effective finding export opportunities in high growth Asian markets and the Russian Far East.
One of Alaska's major shipping companies, Lynden International, has been a member of WTC from its earliest days. "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," said Dennis Mitchell, Regional Manager Alaska, for Lynden.
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, WTC Alaska is also an important business ally in terms of finding new market opportunities for value-added products.
"They provide 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, WTC also provides a wonderful hands-on experience for business students, our next generation of industry leaders," Case said.
For more information about World Trade Center Alaska, visit the website: http://www.wtcak.org/ or call 907-278-7233.
World Trade Center Alaska
CONTACT: Gregory Galik of Aadland, +1-907-229-3474, for World TradeCenter Alaska
Web site: http://www.wtcak.org/
Source: PRNewswire
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