Posts Tagged ‘exports support jobs’

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Let the Games – and the Exports – Begin!

March 21, 2013

Chris Higginbotham is a Communications Specialist with the International Trade Administration’s Office of Public Affairs.

Chris's Final Four is the University of North Carolina, Indiana, Ohio State and Louisville. He has UNC beating Louisville in the final. Notable upsets include UNC beating Kansas, Florida and Indiana; Wichita State knocking off Gonzaga and Creighton making the Elite 8. He has Duke losing to Creighton in the second round, but a UNC alumnus predicting a Duke loss is hardly notable.

As a UNC alumnus, Chris Higginbotham showed a bias toward the Tar Heels in his bracket.

Well, we all had a couple of days to fill out our brackets. Now the men’s NCAA Tournament games have officially begun and the women’s games are soon to follow. You may have been watching as your brackets were already busted in the First Four games (like mine), or you might be four for four at this point.

One thing we can rely on is that millions of sports fans will be glued to the TV during the next couple of weeks to cheer on alma maters, rivals, and cinderellas. CBS estimates that 21 million sports fans watched last year’s NCAA Men’s Basketball Championship game.

On top of those 21 million viewers in the United States were viewers watching licensed broadcasts of the game overseas. That’s not just true for basketball; American sporting events from the Super Bowl to tennis tournaments, golf and auto racing are licensed overseas. And those licensing agreements are considered exports.

Based on the most recent data available, licensing for broadcasting and recording of live events totaled $675 million in 2011. That includes more than just sports; that also counts live entertainment events in other fields, like the Oscars. It counts licenses for both TV and radio. The largest market for these exports in 2011 was Japan, at $57 million.

Sports contribute to exports in other ways than just broadcast licenses; sports and performing arts are a significant part of America’s strong service industry (which achieved record exports in 2012). Exports in sports and performing arts totaled $893 million in 2011. This category includes services in the production, promotion, and organization of live entertainers including athletes, singers, and dancers.

Combining the above figures shows that the entertainment aspect of sports and entertainment events like the NCAA Tournament contributed to more than $1.5 billion in exports in 2011. Those exports continue to support thousands of jobs; it’s now estimated that every billion dollars in exports supports 4,926 jobs in the United States.

So remember, when you watch the NCAA Tournament – or any American sports or entertainment event – you’re supporting American exports and jobs.

I wouldn’t recommend using that justification if your boss catches you watching games at work this week though.

Keep checking back here as we continue to show how events like March Madness help support American exports. Enjoy the games!

(note: the data behind this post can be found from the Bureau of Economic Analysis tables 1 and 4)

(This article was edited on March 22 to clarify that the $1.5 billion figure represents the sum of broadcast licensing export figures and sports and performing arts figures)

Posted in Service Industries | Tagged , , , , , , , | Leave a Comment »

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Jobs Supported by Exports Surge by 1.2 million

March 14, 2012

Martin Johnson and Chris Rasmussen are Senior Economists in the Office of Industry Analysis within the International Trade Administration

For the first time in U.S. history annual exports of goods and services crossed the $2 trillion threshold exceeding $2.1 trillion in 2011.  This increase in exports builds on the strong growth in 2010, and in 2011 exports of U.S. goods and services were up over 33 percent from 2009. This growth in exports corresponded with growth in jobs supported by U.S. exports. 

We estimate that in 2011 jobs supported by exports increased to 9.7 million in 2011, up 1.2 million since 2009. While the total value of U.S. exports set an all time record in 2011, jobs supported by exports in 2011 were just shy of the 2008 peak of 9.8 million.  In 2011, every billion dollars of U.S. exports supported 5,080 jobs.

Traditionally we think of export oriented jobs as those engaged in making and transporting goods, like at ports, rail, trucks, and manufacturing facilities, as well as at customs brokers and freight forwarders.

However, jobs all along the supply chain of both manufacturing and service industries are captured in this estimate. That means that all of the people who make and install parts that eventually end up in large equipment or small electronics sold abroad are included in this estimate.

In addition, people who are involved in exporting services, such as legal and financial services and travel and tourism are also included.

While your company may not export directly, if you sell products or services to one that does, you are part of this overall export equation.

Posted in Uncategorized | Tagged , | 1 Comment »

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Colorfully Illustrated Trade Facts and Statistics

July 13, 2011

Carrie Bevis is an intern at the International Trade Administration’s Office of Public Affairs.

Yesterday afternoon, I had the pleasure of sitting through my very first trade statistics briefing after U.S. Commerce Secretary Gary Locke released the US International Trade in Goods and Services report compiled by the Commerce Department’s U.S. Census Bureau and the U.S. Bureau of Economic Analysis. It was announced that though exports decreased by 0.5 percent in May, total exports are still up 16.4 percent compared to the same period last year.

Exports supported 2.4 million jobs in 2009, 21.9% of all manufacturing jobs in the U.S.

Exports supported 2.4 million jobs in 2009, 21.9% of all manufacturing jobs in the U.S.

To my delight, all of the trade stats were illustrated in a medley of attractive and understandable graphs and tables. In 2009, that one out of every 21 private sector jobs was supported by U.S. manufactured exports was displayed in a pleasing pie chart while the fact that the value of exports to support one job rose to $181,000 was brandished in a bar graph.

All numbers aside, the key message is that the U.S. Department of Commerce is still as committed as ever to accelerating job growth and providing businesses with the tools they need to be globally competitive. “As we move closer to reaching the president’s goal of doubling exports by 2015, the Obama administration will continue to help businesses reach the 95 percent of consumers who live outside our borders,” Locke said.

Despite an increase in the trade deficit of 15.1 percent due to a 2.6 percent increase in imports of goods and services, the department is happy to report that U.S. exports support an estimated 9.2 million jobs in 2010 which is up from 8.7 million in 2009. This nugget of knowledge was announced in July’s blog post Exports Support U.S. Jobs  which highlighted the brief on Projected Jobs Supported by Exports for 2009 and 2010. More spotlight stories highlighting export-related jobs can be found at the online Office of Competition and Economic Analysis.

For more fresh facts from the export statistics released yesterday, check out the handy-dandy Fact Sheet. If you want a deeper break down of the information, ITA has published several other reports that can be found under Industry Analysis from the trade.gov homepage. For example, State Reports provides a detailed analysis of the effects of international trade on all 50 states, from the how foreign investment is creating jobs in Alabama to Wyoming’s dependence on world markets.

Stay tuned for more tasty tidbits of trade facts!

Posted in Uncategorized | Tagged , , , , | 5 Comments »

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