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Economics

The 10 US states getting slammed by the European collapse

GlobalPost

A Boeing 787 Dreamliner aircraft sits under construction at the Boeing production facilities and factory at Paine Field in Everett, Washington where the effects of the euro economic crisis are expected to be felt.

Saul Loeb

The Milken Institute published a report this week examining the effects of the euro crisis on individual US states. The report ranked US states based on which ones send the most exports to the EU as a share of their total exports and GDP.

Armen Bedroussian, a Milken Institute economist, writes that even though the reliance of the United States on the EU as an export destination has waned over the years and that "at the national level the contagion effects of a EU recession on US exports appear relatively mild, the impact on some states doesn't appear as rosy."

#10: Tennessee

Exports to EU as % of state's GDP: 2.35 percent

Exports to EU as % of state's exports: 21 percent

The state's important exports: Medical products, aircraft and parts, cotton

Source: Milken Institute

#9: West Virginia

Exports to EU as % of state's GDP: 2.49 percent

Exports to EU as % of state's exports: 18 percent

The state's important exports: Coal

Source: Milken Institute

#8: Alabama

Exports to EU as % of state's GDP: 2.68 percent

Exports to EU as % of state's exports: 26 percent

The state's important exports: Coal, autos and parts

Source: Milken Institute

#7: Michigan

Exports to EU as % of state's GDP: 2.78 percent

Exports to EU as % of state's exports: 21 percent

The state's important exports: Autos and parts

Source: Milken Institute

#6: Kentucky

Exports to EU as % of state's GDP: 3.21 percent

Exports to EU as % of state's exports: 26 percent

The state's important exports: Aircraft and parts, medical products, auto parts

Source: Milken Institute

#5: Washington

Exports to EU as % of state's GDP: 3.23 percent

Exports to EU as % of state's exports: 18 percent

The state's important exports: Aircraft and parts

Source: Milken Institute

#4: Indiana

Exports to EU as % of state's GDP: 3.23 percent

Exports to EU as % of state's exports: 28 percent

The state's important exports: Medical products, autos and parts

Source: Milken Institute

#3: Louisiana

Exports to EU as % of state's GDP: 3.43 percent

Exports to EU as % of state's exports: 15 percent

The state's important exports: Oil, soybeans, corn

Source: Milken Institute

#2: South Carolina

Exports to EU as % of state's GDP: 3.52 percent

Exports to EU as % of state's exports: 24 percent

The state's important exports: Autos and parts

Source: Milken Institute

#1: Utah

Exports to EU as % of state's GDP: 4.20 percent

Exports to EU as % of state's exports: 28 percent

The state's important exports: Gold

Source: Milken Institute

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