Solid Gain for Exports in First Half of ’08

The weak dollar helped lift U.S. book exports in the six months ended June 30, with shipments increasing 10.5%, to $1.08 billion. The most significant increase came in exports to the U.K., which rose 21.7% in the period, to $173.2 million, according to figures compiled by the U.S. Commerce Department. Exports to Canada, America’s largest book market, rose 10.1%, to $470.9 million. The increases to Canada and the U.K. offset declines in exports to Australia and Mexico. The United Arab Emirates, which has been working to increase the number of American books available there, had a 237% increase in books imported from the U.S. in the first half of 2008, with shipments reaching $6.9 million.

Among the major publishing segments, textbook exports rose 25.5%, to $240.9 million, led by a 74% increase in shipments to the U.K. Exports of professional books increased 9.0%, to $269.5 million, with exports to Germany jumping 105%. On the trade side, shipments of hardcovers rose 28%, to $87 million, driven by exports to Canada, while mass market paperback exports rose 2.1%, to $118.8 million. Exports of religious books fell 13%, to $48.8 million, as shipments to Australia fell 34%.

Total imports in the quarter rose at a slower rate than exports, increasing 3.5%, to $1.06 billion. Although there have been signs that higher costs in China could reduce the number of books manufactured there, imports from that country rose 3.3% in the January–June period, hitting $344 million. The increase, however, was slower than the 12% gain recorded for all of 2007. Imports from the U.K. fell 1.5%, although at $163 million, the U.K. remained the second largest source of book imports. Imports from Canada rose 5.5% in the first half, while shipments from Hong Kong fell 11.3%.