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Ind. exports face drop in 2012 after 2011 record
Updated: Friday, 20 Jul 2012, 8:28 AM EDT
Published : Friday, 20 Jul 2012, 8:28 AM EDT
MUNSTER, Ind. (AP) - Indiana's exports are going strong this year but may not be enough to break a record of $32 billion in exports set last year.
The Times of Munster reports that Indiana auto parts manufacturers benefited last year from improvements in the auto industry. But researchers at Indiana University's Kelley School of Business say that strong performance will be hard to match this year.
Exports to Canada and Mexico account for roughly half of the state's annual exports. And about 12 percent of the state's gross domestic product relies on exports.
Indiana University Northwest professor Surekha Rao tacks the possible decline to Europe's continuing economic crisis and slowing demand in China. Rao says businesses will have to explore new markets like North Africa to make up for losses elsewhere.
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