New York: State Profile

Exports to the European Community (EC) accounted for $7.7 billion of New York State's $26.8 billion in exports for 1989, the most recent year for which figures are available. That makes the EC New York's largest regional market, followed by the Far East with $6.9 billion. Canada is the sta...

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Bibliographic Details
Published in:Europe (Washington, D.C.) D.C.), 1991-12 (312), p.21
Main Author: Citrano, Virginia M
Format: Article
Language:English
Subjects:
Advertising
Contract negotiations
EC single market
Economic development
Economic impact
Equity stake
Exports
Foreign investment
International business
International trade
Joint ventures
Manycompanies
Manyindustries
Marathons
Merchant banks
Profiles
Public relations
States
Television news
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Summary:Exports to the European Community (EC) accounted for $7.7 billion of New York State's $26.8 billion in exports for 1989, the most recent year for which figures are available. That makes the EC New York's largest regional market, followed by the Far East with $6.9 billion. Canada is the state's largest single-country market, with $3.91 billion in exports. While art from the New York galleries often seems to be the most visible export, most of what the state sends to foreign markets are high-technology goods. New York companies have also invested heavily in the EC. IBM had 1990 net income from Europe of approximately $2.75 billion, roughly 46% of its total worldwide earnings, and is the largest foreign employer in France. In the past, attracting foreign investment was the prime focus of New York's Department of Economic Development. Governor Mario Cuomo, however, decided that export growth could be as important to the state's economy and launched the "Global New York" program. It has attempted to draw more small- and medium-sized companies into international trade.
ISSN:0191-4545