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New Data Show Jobs Impact of Export Destinations

July 8, 2014

Isabel Sackner-Bernstein is an intern in the International Trade Administration’s Office of Public Affairs. She is studying Strategic Communication at Elon University.

Chart schows that NAFTA supports 25 percent of US export related jobs. Asia and Pacific supports 28%, EU supports 22%, Latin America without Mexico supports 10%. Middle East and Africa 6%, other destinations 9%.What is an export to Canada actually worth?

We know that Canada has always been an important trade partner with the United States, and we know that total exports to Canada were more than $360 billion in 2013, but new data released from the International Trade Administration (ITA) now give more insight into the value of U.S. exports by destination than just dollar amounts.

What are exports to Canada worth? How about nearly 1.7 million U.S. jobs?

New data from ITA show exports to Canada supporting more jobs than any other U.S. export market, with Mexico as a close second at about 1.1 million. Other top destinations were China, Japan, and the United Kingdom.

The exports to these countries alone supported nearly 4.8 million U.S. jobs last year, which is almost as much as the entire populations of Chicago and Houston combined.

Here are some more quick facts we learned from this new data that you can impress your friends with:

  • U.S. exports set a record for a fourth consecutive year in 2013, reaching $2.3 trillion;
  • Exports to the Asia-Pacific region supported 3.2 million jobs, or 28 percent of all export-related jobs;
  • Canada was the top destination for U.S. exports in 2013, and nearly 1.7 million U.S. jobs were supported by these exports, and;
  • Although they beat us in the World Cup, goods exports to Belgium supported nearly 140,000 U.S. jobs.

Want to learn more? Check out the full report online.

So now that you’re the most well-informed member of your friend group, spread the word about how exporting is growing our economy. Talk to your local U.S. Export Assistance Center to find out how to make your business go global.

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Trade Data, for the Regular People

July 3, 2014

Isabel Sackner-Bernstein is an intern in the International Trade Administration’s Office of Public Affairs. She is studying Strategic Communication at Elon University.A man is drawing lines connecting countries on a map of the world.

Today is an exciting day for data fanatics all across the United States. The Department of Commerce has released the international trade data for May 2014 and there are plenty of records to celebrate.

It’s been four straight years of record exports for the United States, and this data indicates we are on the right track to continuing this trend.

There are definitely some interesting points behind this month’s data. We learned:

  • May exports of goods were $135.7 billion, the highest month on record;
  • May exports of automotive vehicles, parts, and engines were $13.5 billion, also the highest on record; and
  • May exports to Canada were $27.4 billion, which were also highest on record.

These facts aren’t just for the economists. All this data is available to the general public via ITA’s TradeStats Express, and from a beginner’s stand point, this site is extremely user-friendly.

It breaks down the data into two categories, National Trade Data and State Export Data.

And there are tons of options for tailoring the information to your needs.

Say you want to find out California’s top export product.

You simply head to the TradeStats website, click on State Export Data, then click Export Product Profile to a Selected Market, fill in your information – and voila: California’s top export product is computer and electronic products.

Or, say you want to know the top U.S. export to Mongolia. Click on National Trade Data on the TradeStats website, then on Product Profiles of U.S. Merchandise Trade with a Selected Market. Choose Mongolia as your trade partner country, and there you go: transportation equipment is the United States top export to Mongolia.

The options are endless. So stop reading this and start reading TradeStats.

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USTR Highlights Trade Opportunities for Small Businesses in Chile and Peru

June 26, 2014
From L to R: Peru’s Ministerial Office Cabinet Advisor Carmen Bedoya Eyzaguirre, Peru’s Vice Minister of SMEs and Industry Sandra Doig Diaz,  USTR’s Christina Sevilla, Peru’s Vice-Ministerial Office Advisory Maggy Manrique Petrera, Director of Innovation Alejandro Bernaola Cabrera, and US Embassy in Lima Economic Officer Peter Lee

From L to R: Peru’s Ministerial Office Cabinet Advisor Carmen Bedoya Eyzaguirre, Peru’s Vice Minister of SMEs and Industry Sandra Doig Diaz, USTR’s Christina Sevilla, Peru’s Vice-Ministerial Office Advisory Maggy Manrique Petrera, Director of Innovation Alejandro Bernaola Cabrera, and US Embassy in Lima Economic Officer Peter Lee

This post originally appeared on the blog for the Office of the U.S. Trade Representative.

Deputy Assistant U.S. Trade Representative for Small Business Christina Sevilla convened Small and Medium Enterprise (SME) Working Groups with Chile and Peru to discuss cooperation through the Obama Administration’s Small Business Network of the Americas, which links U.S. Small Business Development Centers (SBDCs) with counterpart centers in countries throughout the Hemisphere to expand trade opportunities, share best practices in SME development, and help more small businesses take advantage of U.S. trade agreements. As President Obama has stated, the United States is going to “focus more on small and medium-sized businesses, on women’s businesses, making sure that the benefits of trade don’t just go to the largest companies but also to the smaller entrepreneurs and business people.”

In Santiago, USTR welcomed the decision of the Bachelet Administration to establish 50 SBDCs based on the U.S. model throughout Chile, in order to promote inclusive growth and strengthen our respective countries ties in the SME sector. In June, a delegation from Chile will visit U.S. SBDCs at Howard University in Washington DC, George Mason University in Fairfax, VA and University of Texas at San Antonio, TX. The United States and Chile also discussed ways to promote trade by minority-owned small businesses and will develop an online webinar with the U.S. Hispanic Chamber of Commerce through the Administration’s Look South initiative.

In Lima, Sevilla met with Vice Minister of SMEs Sandra Doig Diaz, and congratulated Peru on the recent completion of training in the U.S. SBDC model and the Ministry of Production’s decision to establish pilot SBDCs in Peru in 2015. Peru intends to partner with U.S. SBDCs and their SME clients to expand opportunities under the trade agreement. The US and Peru also discussed efforts to empower women-owned businesses through the public-private partnerships under the Women’s Entrepreneurship in the America’s initiative.

The U.S. also discussed expanded regional opportunities for SMEs with Chile and Peru through the Trans-Pacific Partnership agreement that is currently being negotiated.  The United States, Chile and Peru are three of the 12 countries in the TPP.

To learn more about the Trans-Pacific Partnership, please visit http://www.ustr.gov/tpp.

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Joining ITA with Laser Focus

June 25, 2014

Stefan M. Selig is the Under Secretary of Commerce for International Trade.

Under Secretary Selig addresses ITA staff at his first all-hands meeting.

Under Secretary Selig addresses ITA staff at his first all-hands meeting.

It is an absolute honor to begin my service as the Under Secretary of International Trade.

After being sworn in by Secretary Pritzker on Monday, I had my first opportunity to address the International Trade Administration’s global team today, and my message was very clear:

ITA will be laser-focused on serving our clients.

We will support the Commerce Department mission and Secretary Pritzker’s charge to reinvigorate our support for trade and investment in the United States.

We know why this is important: exports support 11.3 million U.S. jobs and foreign direct investment supports 5.6 million jobs.

Our economic growth relies on more businesses going global, and ITA helps make that happen. Our services can give any business interested in exporting, and any investor looking for a new opportunity, a leg up on the competition.

As someone who has been an investment banker for almost 30 years, my professional life was built around client service. The loyalty, support, and friendship of so many of my clients will always be a highlight of my career.

For any company that is an ITA client, our team will make your business needs our top priority.

I know how important it is for U.S. companies to engage in the global market; 95 percent of global consumers live outside the United States, so companies that aren’t exporting are missing a huge opportunity.

I look forward to working with my newest client, a world-class business executive named Penny Pritzker. I look forward to working with the International Trade Administration’s experts as we continue our important mission of supporting international trade and investment.

If your business is looking to expand in the global marketplace and you have not yet taken advantage of our services, I encourage you to contact us now. There’s no better team to have in your corner.

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Taking Advantage of Business Opportunities in Colombia

June 25, 2014

This post originally appeared on the U.S. Minority Business Development Agency blog.

George Mui is the Access to Markets team lead in MBDA’s Office of Business Development.

Aerial view of a city in ColombiaThe U.S. Department of Commerce, through its Look South campaign, helps U.S. exporters to expand their markets and identify new opportunities in Latin America. U.S. goods exports to Peru, Panama, Mexico, and Colombia have increased every year since 2009. As we celebrate the second year anniversary of the U.S.-Colombia Free Trade Agreement more American companies are exporting goods and services to Colombia, the vast majority of which are duty-free. The U.S.-Colombia Free Trade Agreement is just one of the11 free trade agreements between the United States and Latin American countries.

That’s why MBDA San Antonio Business Center director Orestes Hubbard and MBDA Global Business Center project manager David Leister visited Colombia along with an MBDA Global Business Center client, Carlos Silva, CEO of USATEQ, a Colombian native.

MBDA San Antonio director Orestes Hubbard shared his experience with George Mui, MBDA’s Access to Markets team lead in the Office of Business Development.

Mui: Why did you choose to travel to Colombia?

Hubbard: Colombia has a very advantageous geography and is roughly twice the size of the state of Texas – where I live. Colombia is also the only country in South America with access to both the Atlantic and Pacific Oceans and has long had good diplomatic and trade relations with the United States.

Mui: What was the purpose of your trip?

Hubbard: The purpose of the trip was to make contacts and identify concrete and tangible contracting opportunities for not only our center clients, but also opportunities for minority-owned businesses across the nation. We visited the two largest cities and major centers of commerce and industry, Bogota and Medellin.

Mui: You found some impressive opportunities – can you highlight a few of the industries?

Hubbard: In total, we discovered over $30 billion of business opportunities. There are private sector opportunities for U.S. construction and engineering companies looking for potential partners on infrastructure projects. The Colombian government has a number of opportunities in the renewable energy, highway, and railway industries. Colombia is the third ranked automobile manufacturer in Latin America, which creates significant opportunities for manufactured products, preferably automotive-related. For more information on opportunities in Colombia I recommend businesses visit the best prospect sectors for Look South countries.

Mui: An MBDA Global Business Center client was part of the trip to Colombia – what was the client’s impact?

Hubbard: Inviting a Colombian-American client from Medellin proved invaluable as Mr. Silva was able to make key government and private sector introductions, particularly in the areas of construction, renewable energies and automotive supply chain in Colombia.

Mui: What were your key takeaways?

Hubbard: Our trip confirmed what most trade reports declare, that Colombia is open for business and the stigma of the drug cartels and vast conflict with the Fuerzas Armadas Revolucionarias de Colombia (FARC) are things of the past. The main challenges appear to deal with traffic snafus and the need for the Colombian government to continue its admirable commitment toward growing the middle class.

However, it must be noted that fluency in Spanish is essential to having success in Colombia. This applies not only to the obvious case of setting up a local facility, but also when engaging a market representative. It is important that a good knowledge of Spanish is available in-house in the United States operations.

Mui: Can you discuss on-the-ground resources available to help minority-owned firms?

Hubbard: We cannot emphasize enough the invaluable role the U.S. Commercial Service in Colombia plays in assisting MBDA clients get into the Colombian market. We met with senior commercial officer Cameron Werker, foreign commercial officer Aaron Held, and a Colombian national market specialist, all of whom were very helpful in sharing information and resources pertaining to helping U.S. companies successfully enter the Colombian market.

This was an excellent collaborative meeting in which we gained critical insight into the Colombian economy and political workings. We mutually agreed that after registering with the local United States Export Assistance Center in the United States, all minority business enterprise clients interested in doing business in Colombia would be promptly referred to U.S. Commercial Service in Colombia to obtain market intelligence and critical introductions to events and contacts.

All in all, we came away impressed with the seeming transparency and relative ease of starting up a company, pulling in on-the-ground resources in Colombia from both the U.S. Embassy, as well as local Colombian trade and investment vehicles.

Mui: What advice do you have for U.S. companies thinking about exporting?

Hubbard: For minority-owned firms who want to learn about global business, and believe your product or service can be sold abroad, your first stop should be an MBDA Business Center. Contact Orestes Hubbard, director of the MBDA San Antonio Business Center at orestes.hubbard@utsa.edu or 210-458-2480.

MBDA supports the Look South campaign with a successful business exploration trip to Colombia. As a result, more than $30 billion of global contract opportunities were identified in both private and public sectors. Additionally, the MBDA Global Business Center also identified key strategic partners, such as the American Chamber of Commerce and ProExport Colombia. We look forward to bringing you more insights from Colombia.

MBDA and ITA have pledged a memorandum of understanding through January, 2016 that provides assistance to minority companies to develop their export potential through increased awareness and use of existing ITA products and services; increase ITA and MBDA cooperation at the regional and district office/local level, especially in regard to export counseling and trade finance training for minority firms.

 

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Secretary Pritzker Swears in New Commercial Service Officers

June 20, 2014

This post originally appeared on the Department of Commerce blog.

Secretary Penny Pritzker swears in new commercial officers.

Secretary Penny Pritzker swears in new commercial officers.

U.S. Commerce Secretary Penny Pritzker today swore in 24 new Foreign Commercial Service Officers and one Intellectual Property Attachè at the Commerce Department. The ceremony marked an exciting beginning to these officers’ careers in overseas and domestic markets where they will work to strengthen the American economy by supporting U.S. businesses in the global marketplace.

The administration is committed to increasing U.S. exports, which support millions of jobs.  U.S. exports have set records for four consecutive years, reaching $2.3 trillion in 2013. These exports now support 11.3 million jobs in the United States. The recent launch of the NEI/NEXT campaign by Secretary Pritzker has built on the momentum of the recent growth to encourage American companies to take their business to overseas markets.

Expanding trade and investment is a central part of the Department’s ‘Open for Business Agenda’ and having an overseas presence is one critical way to support U.S. businesses seeking to grow in foreign markets.

During a recent trip to Burma, Secretary Pritzker announced the Department of Commerce will expand its overseas resources to help U.S. businesses navigate additional global markets and sell their goods and services to customers all over the world. The Department’s International Trade Administration will add a total of 68 new positions and open offices in five new countries, including its first in Burma. The expansion is largely focused on fast-growing markets in Asia and sub-Saharan Africa.  The Department of Commerce will soon add new offices in Africa and Asia in order to facilitate exports in these critical markets.

The new officers bring a wealth of knowledge and experience from their prior private or public sector service. Of the more than 3,800 candidates, these 25 men and women were chosen because of their constant resourcefulness, tenacity, and of course, diplomacy.

These new Commercial Service Officers play a vital role in the enhancement of American businesses. They support U.S. businesses in overcoming trade barriers, finding global business opportunities and partners, and attracting investment to U.S. shores. These officers will be the boots on the ground, leading the charge to open new markets and helping companies compete in the global marketplace.

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Brazil and U.S. Share More Than Just Love of Soccer

June 19, 2014

This post contains external links. Please review our external linking policy.

Jonathan Gartenberg is an Intern in the International Trade Administration’s Office of Trade and Economic Analysis

Fans from many countries watch a sporting event.

World Cup fever plays a part in the expanding U.S.-Brazil commercial relationship.

The FIFA World Cup is underway and all over the world, excitement grows as fans cheer on their national teams.

Americans are no exception.

In fact the Brazilian Federal Government reported that more than 150,000 tickets were assigned to the United States – more than any other country outside Brazil.

By cheering on the U.S. team, fans are not only supporting players but contributing to the growing commercial relationship between Brazil and the United States.

Below are some highlights from Brazil’s economic and trade profile:

  • Like the United States, Brazil is mainly a service economy. In 2012, services comprised 68.5 percent of Brazil’s economy, compared to 78.6 percent of the U.S. economy in 2011.
  • Brazil is a net exporter to the world and had a 2013 trade balance of $2.5 billion. In the same year, Brazil’s exports totaled $242 billion.
  • As recipient of $44.1 billion of U.S. exports in 2013, Brazil earns a spot in the Top 10 U.S. Export Markets. Our top five exports to Brazil, are chemicals, transportation equipment, computer and electronic products, machinery (except electrical), and petroleum and coal products.
  • U.S. and Brazil mutual foreign direct investment totals more than $80 billion dollars, supporting thousands of jobs in both countries.

Even when world sporting events aren’t going on, the Department of Commerce, International Trade Administration (ITA), and other government partners work hard to further develop the U.S.-Brazil commercial relationship. ITA maintains five offices around the country, and our commercial specialists connect U.S. companies to qualified partners and promising business opportunities.

You can learn more about the work ITA is doing in Brazil at http://www.export.gov/brazil, or follow our Brazil team on Twitter at @Export2Brazil.

Stay tuned for more economic profiles on the countries competing in the World Cup!

 

*Except where noted, all figures are from Trade Policy Information System.

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