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Article Excerpt
This month marks the 10th anniversary of the signing of the North American Free Trade Agreement (NAFTA), a phase-in program that dropped trade barriers between Canada, the U.S., and Mexico. The historic trade pact has shaped Mississippi in the last decade with an unprecedented loss of manufacturing jobs--and an unprecedented gain in international trade.
According to the Office of Trade and Economic Analysis, in the four-year period from 1999 to 2002, Mississippi's merchandise exports increased from $2.2 billion to $3.1 billion. Combined exports from Mississippi to Canada and Mexico increased from $840 million to more than $950 million. From more than 150 foreign trading partners, Canada and Mexico received one-third of all Mississippi exports. During the same period, total U.S. exports increased by only $430 million.
"It is estimated that 38% of all economic expansion in the U.S. between 1994 and 1997 can be attributed to exports," said Bill Morris,...
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More articles from Mississippi Business Journal
Mississippi eyes a bright future with international trade., January 26, 2004
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