Exports Virtually Flat In First Quarter
by Jim Milliot -- Publishers Weekly, 6/16/2003
Book exports slipped 0.3%, to $377.4 million, in the first quarter ended March 31, according to figures compiled by the U.S. Department of Commerce. Shipments to America's two largest foreign book markets, Canada and the U.K., rose 5.7% and 7.7%, respectively, with exports to Canada hitting $164.3 million and exports to the U.K. reaching $67.2 million. Exports to Japan, America's third largest overseas market, fell 16.3%, to $23.9 million.
Significant fluctuations among some of the other major export markets included a 49.9% decline in shipments to Taiwan, a 49% drop in exports to Hong Kong, and a 15.5% decline in shipments to South Korea. Exports to Germany rose 49.6% in the quarter, while shipments to Mexico increased 15.3%.
Most countries that export books to America showed gains in the quarter and the data gave no sign that SARS was affecting shipments from Asia, said Commerce publishing analyst Jamie Ferman. Imports from China increased a solid 7.9% in the quarter, to $67.3 million, keeping China as the largest source of imported books into the U.S. Imports from the U.K. and Canada both increased by more than 16% in the quarter, to $67.4 million and $60.3 million, respectively. Total imports in the period rose 8.4%, to $360.5 million.
Examination of exports' performance in some of the major segments found a 19.9% decline in textbook exports, to $68.7 million, while exports of professional books dipped 0.5%, to $80.6 million. Mass market paperback exports increased 23.7% in the quarter, to $42.4 million, and exports of hardcovers rose 4.3%, to $27.1 million.
