2018 Export Monitor for Albany

EXPORT SCAN Albany, NY REAL EXPORTS (BN) 2017 2003 EXPORT SHARE OF GDP (PCT) DIRECT EXPORTSUPPORTED JOBS TOTAL EXPORTSUPPORTED JOBS 5.3 7.9% 16,500 34,550 RANK: 56 RANK: 67 RANK: 56 RANK: 54 2.9 5.3% 9,240 20,450 RANK: 66 RANK: 81 RANK: 71 RANK: 68 220 ANNUALIZED GROWTH RATES 2014-2017 200 180 REAL EXPORTS -0.4% 160 140 RANK: 54 120 REAL GDP 3.0% 100 RANK: 46 80 RECESSION 60 2003 2008 2017 ALBANY REAL EXPORTS ALBANY REAL GDP US REAL EXPORTS US REAL GDP A JOINT PROJECT OF BROOKINGS AND JPMORGAN CHASE TOP INDUSTRY SECTORS BY REAL EXPORTS (BN) 2017 TOP FIVE INDUSTRIES BY REAL EXPORTS (MIL) 2017 TOP FIVE SPECIALIZED INDUSTRIES BY REAL EXPORTS (MIL) 2017 ENGINE & POWER EQUIPMENT: 640 (11.9%) ENGINE & POWER EQUIPMENT: 640 (11.1 LQ) R & D SERVICES: 630 (11.8%) R & D SERVICES: 630 (5.5 LQ) 0.4 0.7 3.5 1.2 1.7 4.8 2.5 4.4 REAL EXPORTS (BN) DIRECT EXPORT-SUPPORTED JOBS (THS) MANUFACTURING INFO+TECH FINANCE+INSURANCE TRAVEL+TOURISM TOP FIVE INDUSTRIES BY DIRECT EXPORTSUPPORTED JOBS 2017 RESINS & SYNTHETIC RUBBERS: 420 (7.9%) RESINS & SYNTHETIC RUBBERS: 420 (4.4 LQ) FINANCIAL MANAGEMENT: 310 (5.8%) INSURANCE CARRIERS: 220 (4.9 LQ) PHARMACEUTICALS: 280 (5.2%) CLEANING PRODUCTS: 100 (2.3 LQ) TOP FIVE INDUSTRIES BY TOTAL EXPORTSUPPORTED JOBS 2017 TOP FIVE INDUSTRIES BY SHARE OF 20032017 EXPORT GROWTH EDUCATIONAL SERVICES: 2,230 R & D SERVICES: 4,140 R & D SERVICES: 11.9% INFORMATION TECHNOLOGY ROYALTIES: 1,520 ENGINE & POWER EQUIPMENT: 3,440 ENGINE & POWER EQUIPMENT: 11.8% ENGINE & POWER EQUIPMENT: 1,090 EDUCATIONAL SERVICES: 3,210 PHARMACEUTICALS: 7.9% R & D SERVICES: 880 INFORMATION TECHNOLOGY ROYALTIES: 1,890 FINANCIAL MANAGEMENT: 5.8% CHEMICAL MANUFACTURING ROYALTIES: 550 FINANCIAL MANAGEMENT: 1,800 SEMICONDUCTORS: 5.2% ● Exports in this database are domestic U.S. exports without waste, scrap, re-exports, used merchandise, goods returned to Canada, military transfers, government services, and expenditures of foreign embassies and international organizations in the U.S. Exports include goods and services and are estimated by production location; therefore, they do not match the U.S. Census Bureau’s estimates of state and metropolitan exports, which reflect origin-of-movement. Real Exports are inflation-adjusted by industry, in millions of 2016 dollars. LQ is short for location quotient, which represents the local export specialization in an industry relative to the national ● Direct export jobs are jobs supported by exports in that particular industry. Total export-supported jobs include direct export jobs as well as jobs supported by exports in the exporting industries supply chain. The value is based on the national multiplier for that industry and does not reflect an exact count of workers involved in the physical production of exports, but rather the number of jobs that a given amount of export sales can support.