Book Exports Fall 8% In 2001, to $1.7 Billion

U.S. book exports, which had been relatively flat over the last four years, fell 8.8% in 2001 to $1.71 billion, according to figures from the U.S. Commerce Department. A worldwide economic slump and a strong dollar against most foreign currencies were the two major factors leading to the downturn. Exports to 11 of America's 15 largest book markets fell, and the dollar value of book exports to those major trading partners, which comprised 88.6% of all exports, dropped 8.4%, to $1.52 billion.

The largest decline was in exports to Australia, which dropped 43.2%, to $66 million. The imposition of VAT on books during the year, a strong dollar and soft Australian economy were the primary reasons for the dramatic decline. Exports to the Netherlands also had a steep drop in the year, falling 40.1%, to $35.2 million.

Exports to Canada fell for the fourth straight year, declining 3.8% in 2001, to $727.7 million. Exports to Canada have fallen 11.6% since peaking in 1997 at $823.6 million. The strength of the American dollar continues to dampen exports to Canada, although the country remains the most important international book market by a wide margin over second place, the United Kingdom. Shipments to the U.K. fell 5.4% last year, to $250 million.

The lone bright spot among the major book markets was in exports to Japan, which increased 5.1%, to $129.3 million. The gain was led by increased exports of professional books. Exports to Brazil, India and the Philippines were also up.

On the import side, incoming book shipments increased 2.3%, to $1.63 billion. Imports from the U.K., the largest source of books to the U.S., fell 4.3%, to $303.9 million. Imports from China increased 21.1%, to $267.6 million, moving China past Canada as the second largest exporter of books to the U.S. Imports from Canada rose 6.4%, to $243.7 million. Other notable shifts included an 11.5% increase in imports, to $96.6 million, from Singapore and a 15.7% decline in shipments, to $50 million, from Japan.

Top U.S. Export Markets for Books, 2000—2001
($ in millions)¹