Book Exports Fell 5.6% In First Half of 2001

The combination of a strong U.S. dollar and a softening world economy resulted in a 5.6% decline in American book exports in the first six months of 2001. According to estimates from the U.S. Commerce Department, exports were $837.5 million in the first half of the year, compared to $887.3 million in the first six months of 2000. Exports to America's top 15 book trading partners fell 6.4%, to $734.2 million, in the January June period and represented 88% of all exports.

The strength of the dollar was one of the major factors in dropping exports to Canada; shipments to America's largest export market fell 3.9%, to $335.4 million. Exports to the U.K. rose 8.4%, to $131.2 million, led by a 129% increase in shipments of hardcover titles and a 26% increase in textbook shipments. The 18.8% increase in total exports to Japan was driven by a 24% gain in the export of professional books.

Exports to Australia fell 45.4%, to $32.5 million, as exports of consumer books tumbled. Exports of paperbacks plunged 83% and hardcover exports were off 22%. A 56% decline in hardcover exports and a 32% drop in professional book exports combined to decrease shipments to Mexico by 22%, to $28.2 million.

Unlike most periods, in which exports to one region are noticeably higher or lower than to other areas, there was no particular pattern in the first half of 2001. The increase in exports to Japan was offset by declines to Singapore, South Korea, Taiwan and the Philippines, while shipments to Hong Kong rose 9.8%. Exports to European countries varied widely, with a 46.5% increase in exports to Belgium offset by declines of 53.9% and 42.0% to Italy and the Netherlands, respectively.

Among the major book categories, exports of professional books fell 11.6%, to $214.0 million, and paperback exports were down 13.7%, to $95.3 million. Exports of religious books rose 35.8%, to $41.4 million, and hardcover exports increased 11.0%, to $69.1 million. Exports of textbooks inched ahead 1.0%, to $151.0 million.

Top U.S. Export Markets, January June, 2000 2001 (in millions)