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For Immediate Release
CBIA ANNOUNCES PARTNERSHIP WITH THE WORLD INSTITUTE FOR The Connecticut Business & Industry Association (CBIA) today announced a partnership with the World Institute for Strategic Economic Research (WISER) to provide international trade statistics and export data relevant to Connecticut companies and the state’s business community. WISER, the leading provider of online international trade statistics in the U.S., together with CBIA, the state’s largest business organization, will provide Connecticut businesses with the information they need to compete in today’s global marketplace. The WISER/CBIA Trade Index, an economic analysis comparing annual growth-rate differences between state commodity groups and national averages, will be released on a quarterly basis. The WISERTrade database will provide companies with information on trade flows throughout the world, by tracking and monitoring more than 10,000 specific products every month, augmenting the WISER/CBIA Trade Index. The WISERTrade database will be available in Connecticut on CBIA’s Web site—cbia.com—exclusively for member companies by subscription. “The WISER/CBIA Trade Index is a type of ‘winners and losers’ guide showing how Connecticut’s exporters are doing compared with exporters across the country,” said Peter Gioia, CBIA vice president and economist. “It gives state businesses broad industry information, based on a four-digit commodity or industry code, that will give them a competitive edge in the marketplace. We are pleased to be working with WISER to provide this valuable information to the business community.” WISER/CBIA Trade Index The WISER/CBIA Trade Index for the second quarter of 2006 showed that Connecticut businesses were doing very well in international trade compared with businesses nationwide. Among the leaders were producers of turbojets, turbopropellers and parts. This Connecticut manufacturing commodity group exported nearly $450 million more than they would have if they had grown at the slower national rate. Connecticut producers in the group had export growth of 66 percent compared with the national growth rate of only 1.4 percent. A second group whose exports grew much faster than their national counterparts’ was producers of powered aircraft, spacecraft and launch vehicles. This group grew at a rate of 128 percent compared with the national rate of 11 percent. A third group that also performed well was aeronautic balloons, and aircraft and spacecraft parts, which grew at 45 percent compared with the national growth rate of 15 percent for this group. However, a number of industries in Connecticut didn’t keep pace with their national counterparts. At the top of the list was the medical, surgical, dental instruments group, which had more than $80 million less in potential export growth than it would have achieved had it grown at the national rate. Sales of Connecticut exporters in this group were down 57 percent, while national export sales rose by 15 percent. By far, many more Connecticut companies are winning than losing. In the past year, Connecticut companies overall exceeded national export figures by $562 million in revenue. WISERTrade database In the coming month, CBIA and WISER will provide an economic analysis and sample monthly “market penetration” report on a specific four-digit commodity code. Each monthly report will include estimates of the size, growth, competition and penetration into that month’s chosen market. WISERTrade can evaluate products at six-digit or 10-digit commodity or industry codes, pinpointing markets and competitor threats, giving businesses details and information necessary to remain competitive as an exporter. “These monthly updates will provide valuable information that can help companies compete more effectively in the marketplace,” said Dr. Stephen P. Coelen, managing partner, WISER LLC. “Companies looking to expand or begin exporting will get the most benefit from these reports, which can tell in great detail the types of products specific countries are purchasing and who is penetrating these markets.” The WISERTrade database also has data on exports of all U.S. states, and can give Connecticut firms information about their domestic competition—showing where competitors are exporting their products throughout the world. It provides the opportunity for companies to target their product for sale in countries that are in need of their specific product. The WISERTrade database could be used, for example, if a Connecticut company selling a specific product only in one country would like to expand, but doesn’t know what other countries are purchasing the same types of products. The WISERTrade database would tell the company what other countries are purchasing their specific product and which ones are not. This would allow firms to market their products or find agents in specific markets that have real potential of purchasing the goods. “The WISERTrade database takes much of the risk out of the marketing of products, because companies know ahead of time which markets are indeed seeking to purchase their products,” said Coelen. This analytical data can provide highly strategic information to companies. The WISERTrade database will provide companies with information to determine whether they are in the right markets compared to their national counterparts, or whether they have competitive prices, quality and sales mechanisms. “The WISERTrade database and the WISER/CBIA Trade Index give the Connecticut business community a big advantage when it comes to deciding how and where to invest in the international market,” said Gioia. “It gives companies the data and specific information they need to expand into worldwide markets and removes the great risk of uncertainty from the exporting equation.” For more information about the WISERTrade database or the WISER/CBIA Trade Index, visit cbia.com/wiser. ### Editor’s Note: For a copy of the WISER/CBIA Trade Index, visit www.cbia.com/wiser To arrange an interview with Peter Gioia, CBIA vice president and economist, or for more information, please contact Nancy Andrews, CBIA media relations manager, at 860-244-1957 or andrewsn@cbia.com. 350 Church
Street · Hartford, CT 06103-1126 · cbia.com/newsroom
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