This measure tracks the benefit collected by either the individual or the company that is exporting goods to foreign countries. It based on the zip code where the individual or company is listed, not the origin of the product's journey. The data are not adjusted for inflation. In order to foster a competitive business climate, a region's companies need to sell their goods to overseas markets. Revenue from such sales is often reinvested into that region's economy, creating further opportunities for economic growth.
The region's exports of goods rose by 14% in 2022; this, following a 15% increase in 2021. While this growth is encouraging, the long-term trend has been one of decline. This may be due to our region attracting companies from other regions or countries, either through direct investment or through mergers and acquistions.