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Book Exports Up Slightly in First Quarter, Imports Rose 9%
Jim Milliot -- 6/15/98
Exports of American books rose 2.7% to $434.9 million for the first quarter ended March 31, 1998, according to estimates from the U.S. Department of Commerce. The largest gain, surprisingly given the state of its economy, was in exports to Japan, whose buys rose 42.9%, to $42.8 million. Solid gains were also registered in exports to the U.K. and Australia; shipments rose 15.7%, to $57.8 million, to the U.K. and 26.9%, to $33.7 million, to Australia. Exports to America's largest trading partner, Canada, inched ahead 1.2%, to $182.6 million.
With the exception of Hong Kong, where exports increased 6.6%, the figures for Asian countries were down in the first quarter. The largest declines were to the Philippines, down 52.7% and Korea, 50%. Exports were down 33.3% to Singapore and 17.3% to Taiwan. Other countries where exports had a steep drop included Mexico, down 17.3%; Germany, 25.7%; the Netherlands, 17.3%; and Brazil, 41.5%.
Among the major book categories, exports of professional books were up 5%, to $138. 2 million, while textbook exports increased 2.7%, to $75.4 million. Religious book shipments rose 30.4%, to $12.8 million. The largest decline was in the encyclopedia segment, where exports dropped 45.9%.
Imports in the quarter rose 9.8%, to $319.2 million. Imports from China jumped 56.6%, to $21.2 million, while those from Canada increased 21%, to $49.8 million. The U.K. remained the largest exporter of books to the U.S., with imports up 14.9%, to $80.5 million. Second-place Hong Kong saw its book exports to the U.S. fall 10.9%, to $42.1 million.
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