Strong euro aids exporters

PORTLAND – Maine companies that export goods are cashing in on the strength of the euro versus the U.S. dollar.

“Any exporter benefits – period,” Jeffrey Porter, a U.S. Commercial Service trade specialist, said.

“Suddenly something you’re selling for a dollar a pound is costing 30 percent less than what it was a year ago. It’s a huge advantage, and they’ve had to do nothing,” Porter, who works out of a Portland office, said.

Most Maine exporters sell their goods in dollars. In most of the European Union countries, where the currency is the euro, customers can buy more goods per euro than they did a year ago.

It’s giving Maine exporters more competitive muscle against European rivals that operate and sell in euros.

Each euro is now worth $1.17, compared to early last year, when each euro was worth 89 cents.

One beneficiary of the tipped exchange rate is Claw Island Foods in South Portland, which expects to increase its sales in Europe by 40 percent this year.