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Study: Export-Driven Markets Still Faring Well

Since early 2006, export growth has taken off while imports have faltered.

By John McCloud | Updated on November 05, 2008

BOSTON-A study conducted by CBRE Torto Wheaton Research over the past few months reveals surprising findings regarding what drives demand for industrial space in the markets the company tracks. The statistical study by Torto Wheaton senior economists Arthur Jones and Luciana Suran discovered that a significant degree of market-level variation still exists despite the fact that imports are the most significant driver of demand on a national level.

The researchers examined the impact of imports, exports and industrial production on each market to determine the role each category plays in individual markets. “We have written extensively on how weak consumer spending has resulted in a reduction in the amount of goods we import from other countries,” the authors write. “But while demand in some markets is driven mainly by import flow, outgoing goods propel demand in several of our other markets.”

According to Jones and Suran, since early 2006, export growth has taken off while imports have faltered as a result of strong global demand for certain US products and a decline in the relative value of the US dollar. “It is these export-driven markets that have managed to best withstand the national economic slowdown,” they say.

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