A soft economy both in the U.S. and overseas was the main factor behind a decline in book exports and imports in the six-month period ended June 30. According to estimates from the Commerce Department, exports fell 7.5% in the first half of 2002, to $774.3 million, while imports dropped 8.1%, to $697 million.
Exports were down to America's three largest trading partners, with the most significant drop in exports to Japan, which fell 25.1%, to $54.2 million. Exports to Canada, the largest market for U.S. books, fell 3.6%, to $323.3 million, while shipments to the U.K. were down 5.8%, to $123.6 million. Overall, exports fell to nine of America's 15 largest book markets. The largest decline was to Brazil, where the value of exports was cut in half, to $5.2 million. Other significant declines included a 42.7% drop to the Netherlands; a 25.8% decline to Germany; and a 24.8% drop to South Africa.
A bright spot was India, where exports rose 44.7%, to $10.6 million. Exports to Hong Kong rose 21.3%, to $18.4 million, while shipments to Mexico increased 9.1%, to $30.8 million.
Among the major book categories, exports of textbooks jumped 16.5%, to $175.9 million, but most other segments were down. Exports of professional titles dropped 19.3%, to $172.7 million, while exports of paperbacks fell 24.4%, to $72 million, and hardbound exports declined 51.9%, to $24.9 million.
U.S. Book Exports, January—June, 2001—2002
($ in millions)
Country | 2001 | 2002 | % Change |
Source: U.S. Commerce Department | |||
Canada | $335.4 | $323.3 | -3.6% |
United Kingdom | 131.2 | 123.6 | -5.8 |
Japan | 72.4 | 54.2 | -25.1 |
Australia | 32.5 | 33.1 | 2.0 |
Mexico | 28.2 | 30.8 | 9.1 |
Singapore | 22.9 | 23.2 | 1.2 |
Korea | 17.1 | 15.1 | -11.5 |
Netherlands | 19.6 | 11.2 | -42.7 |
Germany | 17.4 | 12.9 | -25.8 |
Hong Kong | 15.2 | 18.4 | 21.3 |
Taiwan | 13.9 | 11.3 | -18.5 |
Brazil | 10.5 | 5.2 | -50.8 |
Philippines | 8.2 | 8.3 | 1.6 |
India | 7.3 | 10.6 | 44.7 |
South Africa | 7.9 | 6.0 | -24.8 |
Total, Top 15 | 739.7 | 687.2 | -7.1 |
Total, World | 837.5 | 774.3 | -7.5 |