Kentucky State Seal

 

*OFFICE OF GOVERNOR ANDY BESHEAR*

*COMMONWEALTH OF KENTUCKY*








*FOR IMMEDIATE RELEASE*




*Contact:* 

*Crystal Staley*
*502-545-3714*

*Brandon Mattingly
502-782-2006*






*********************Gov. Beshear: Kentucky Sets Back-to-Back Exports Record With Over $47 Billion in Products Shipped Globally*********************

"""""""""""""""""""""""""""""Canada remains Kentucky’s top export destination; aerospace products and motor vehicles saw increase in 2024"""""""""""""""""""""""""""""

*FRANKFORT, Ky. (Feb. 13, 2025) *– Today, Gov. Andy Beshear announced Kentucky once again set an all-time record for products shipped globally, with $47.7 billion in exports in 2024. The commonwealth broke the record set in 2023 with an 18.7% increase over the previous year.

“The global demand for Kentucky-made products, made by hard-working Kentuckians right here in the commonwealth, has never been higher,” said *Gov. Beshear*. “For a second consecutive year we have set a new state record for exports, and that wouldn’t be possible without quality companies relying on Kentucky’s hard-working and talented workforce. The commonwealth’s commitment to developing partnerships all over the globe is critical for our long-term economic success. Now more than ever, the rest of the world is realizing that you just can’t beat a Kentucky-made product.”

According to data recently made available by the U.S. Census Bureau, Foreign Trade Division and WISERTrade, Canada once again led the way as Kentucky’s top export destination, with over $9.3 billion in products. The United Kingdom (more than $4.9 billion), France (over $4.7 billion), China (more than $4.3 billion) and Mexico (over $4.1 billion) remain in the top five destinations for Kentucky-made products. Other top trade partners included Brazil, Netherlands, Malaysia, Germany and Singapore.

Aerospace products and parts remained Kentucky’s top export in 2024. The industry shipped more than $18.9 billion in products out of the United States, representing a nearly 41.8% increase over the previous year.

Motor vehicles and pharmaceuticals/medicines remain among Kentucky’s leading exports. Motor vehicles saw $4.4 billion in products distributed and an 18% increase over the previous year, while $3.7 billion worth of pharmaceuticals were shipped globally. Motor vehicle parts (nearly $2 billion) and engines, turbines and power transmission equipment (over $1.7 billion) round out the top five products categories shipped from the commonwealth.

Kentucky’s export growth builds on the best five-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced more than 1,100 private-sector new-location and expansion projects totaling over $35 billion in announced investments, creating more than 60,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and $14 billion more than the next highest total.

The robust job creation has been accompanied by rising wages across the commonwealth. Since 2022, the average incentivized hourly wage has topped $26 in three consecutive years for the first time.

Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park [ [link removed] ] in Hardin County; AESC [ [link removed] ]’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota [ [link removed] ]’s $1.3 billion investment in Scott County; and Shelbyville Battery Manufacturing [ [link removed] ]’s $712 million investment, creating 1,572 jobs in Shelby County, among others.

The Governor’s administration also secured [ [link removed] ] the largest General Fund budget surplus and Rainy Day Fund. In 2023, Kentucky recorded over 2 million jobs filled for the first time ever and has stayed above that number ever since.

Kentucky also secured rating increases from major credit rating agencies Fitch Ratings [ [link removed] ], S&P Global Ratings [ [link removed] ] and Moody’s Investors Service [ [link removed] ].

Last March, Site Selection magazine ranked [ [link removed] ] Kentucky third nationally and first in the South Central region for economic development projects per capita in its 2023 Governor’s Cup rankings. In April, Site Selection placed [ [link removed] ] Kentucky second in the South Central region and in the top 10 nationally in its 2024 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.

Gov. Beshear announced a Supply Kentucky [ [link removed] ] initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies. And in November, the Governor announced [ [link removed] ] a new initiative, called New Kentucky Home [ [link removed] ], to increase economic investment, attain and attract talent, and increase tourism across the state.

For more information on Kentucky exports, visit kyexports.com. [ [link removed] ]

Information on Kentucky’s economic development efforts and programs is available at "CED.ky.gov" [ [link removed] ]. Fans of the Cabinet for Economic Development can also join the discussion at "facebook.com/CEDkygov" [ [link removed] ]", on Twitter ""@CEDkygov" [ [link removed] ]", Instagram ""@CEDkygov" [ [link removed] ]" and ""LinkedIn" [ [link removed] ].

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