N.J. ranks No. 22 in export adaptability

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New Jersey ranks 22nd in the nation when it comes to adapting to the international export market, according to a study by The Center for Business and Economic Research at Indiana’s Ball State University’s Miller College of Business. Pennsylvania ranked 19th on the list, while New York was 41st.

The study considered the ability of states to adapt to the changing demand among member countries of the global Organisation for Economic Co-operation and Development, or OECD, from 1999 to 2009. The states were ranked by a ratio of their production of high-demand items, like machinery, pharmaceuticals and chemicals, compared to their market share of lower-demand items like paper, textile and footwear products.

“Compared to states like Indiana, (ranked fifth), New Jersey doesn’t look that good,” said Ball State research economist Nalitra Thaiprasert, who authored the report. “But it’s not doing that badly, since its ratio of 1.69 is still above a 1, which would indicate a minimal ability to follow OECD’s changing demand.”

– Martin C. Daks