Gold mined in rural northern counties accounted for roughly 53 percent of Nevada's total exports last year, says Al Di Stefano, director of global trade and investment at the Nevada Commission on Economic Development. And more than 90 percent of it went to Switzerland.
"Twenty-three of Nevada's top 25 export markets showed significant increases in Nevada exports," says Di Stefano.
Nevada companies exported products to 157 countries in 2006, but the top 25 export markets accounted for 95 percent of the export dollars.
According to U.S. Department of Commerce statistics, Nevada's nearly $5.5 billion in exports support approximately 74,000 jobs in the state.
Those jobs pay an average wage 15 to 18 percent higher than similar jobs not related to exports.
The $5.49 billion in exports recorded in the state in 2006 marks the fifth consecutive year of record export.
Nevada is tied for second place in export growth with Washington, and isn't far behind first-place Delaware.
The largest category of export products for Nevada is precious metals, primarily gold.
Other large export categories are electric machinery, industrial machinery, ores, and toys, games and sporting equipment.
"Nevada exports increased an impressive 39.5 percent over 2005," said Lt. Gov. Brian Krolicki. "Nevada companies are doing better in the world market each year and our continued growth in precious metals, particularly gold, is remarkable."
The state's top three export markets, Switzerland, Canada and China, showed increases of 46 percent, 24 percent and 58 percent respectively. Japan and Mexico round out Nevada's top five export markets. Exports to Switzerland were almost exclusively gold.
"We help companies get into exports," says Di Stefano. Companies need to look beyond their own backyards, he says, because 95 percent of the world's population lives outside of the United States.
And those companies that don't export?
"I've heard every reason in the book," he says. "They don't know how, they don't care, they don't have the money. There's no pat answer."
And, he encourages companies that already export to the easy markets of Canada and Mexico to look further afield, to Asia and South America. "China is much more difficult," he allows. But the commission on economic development is prepared to help companies take that big step overseas.
A proactive stance keeps companies ahead of the competition, says Di Stefano. With CAFTA Central America Free Trade Agreement coming up, the commission took companies to Central America in preparation to its passage.
The United States already signed an agreement with Peru, and is negotiating with Colombia.
By taking companies into those markets, prior to those agreements being signed, they can stay ahead of the competition, he says.
