South Carolina recorded more than $30.3 billion in export sales in 2020, leading the country as a top exporter of tires and completed passenger motor vehicles. The state also earned the No. 1 spot in the export sales of ball and roller bearings.
The SC Department of Commerce released the information in its 2020 International Trade Report.
“South Carolina’s economy continues to grow, and the news that the state remains the national leader in the export sales of tires and passenger vehicles — and the new leader in ball and roller bearings — is a testament to our state’s international connectivity,” Gov. Henry McMaster said in a statement.
“Although the COVID-19 pandemic disrupted trade around the world, South Carolina continues to live up to our reputation for producing top-quality products and for our ability to transport those products globally,” Commerce Secretary Bobby Hitt said. “International trade is part of our identity and critical to supporting economic prosperity.”
Overall for 2020, South Carolina’s market share in passenger vehicles made up 21% of the nation’s export sales. It then contributed 38% of the country’s tire exports. The SC Ports Authority also handles high-end vehicles, agricultural products and medical supplies, and recently diversified its cargo to include retail.
SCPA President and CEO Jim Newsome understands it’s the port’s role to connect the state to the world and to serve as a “vital economic engine for the Southeast.” Top export markets for South Carolina include Germany at 14%, Canada and China at 13% each, Mexico at 6% and then all others combine for the remaining 54%.
“As a top 10 U.S. container port, we have invested more than $2 billion in our infrastructure to remain globally competitive,” Newsome said. “In 2021, we will have the deepest harbor on the East Coast at 52 feet, and we will open the Hugh K. Leatherman Terminal, the country’s first container terminal in more than a decade. At S.C. Ports, we focus on efficient operations and infrastructure, ensuring S.C.-based businesses can continue to thrive.” (Credit – Charleston Regional Business Journal)
For more information on Charleston SC and homes currently on the market, Please contact THE BRENNAMAN GROUP:
843.345.6074 – firstname.lastname@example.org – BrennamanGroup.com