Archive for the ‘Export Data’ Category

h1

New Study: How Important is FDI to the U.S. economy?

February 24, 2016

Felicia Pullam is the Director of Outreach for SelectUSA.

The International Trade Administration (ITA) released a new study that quantifies the employment impact of foreign direct investment (FDI) in the United States. Economists from ITA’s Office of Trade and Economic Analysis estimate that 12 million jobs, or 8.5 percent of the entire U.S. labor force, were attributed to FDI.

Graph

Foreign direct investment

The Bureau of Economic Analysis (BEA), also within the U.S. Department of Commerce, conducts an intensive survey every year that measures the number of people employed by foreign companies, along with other information about their operations. According to their data, roughly 6.1 million people were directly employed by U.S. affiliates of majority foreign-owned companies in 2013 (the most recent year for which we have data). In other words, international companies like Siemens, Unilever, and Toyota have operations in the United States that employ American workers.

The economic impact of this foreign investment goes beyond the direct jobs. International companies help drive American innovation, connect American communities with the world, and bring new techniques to improve productivity. In 2013 alone, companies like Novartis, Michelin, and Samsung spent a whopping $53 billion on American research and development.  That same year, companies like Honda and L’Oréal, exported $360 billion worth of goods from the United States.

All of this direct economic activity generates additional motion in the local and national economy. For example, these companies rely on other companies within their supply chain.  The employees of these companies all earn income, which they can in turn spend at restaurants or on other goods for their families.  Employees are trained with new skills, which benefit them for the rest of their lives as they move on to future jobs.

L’Oréal, headquartered in France, directly employs more than 10,000 people in the United States, with facilities in 14 states. L’Oréal USA manufactures billions of dollars’ worth of products in the United States for American sales, while also exporting more than $500 million of finished product from the United States every year. To achieve this, L’Oréal USA sources many of its production-related purchases (e.g., packaging, raw materials, and subcontracts) from suppliers in our country, including companies like Stull Technologies, Inc., in New Jersey, and New York Label & Box Works.

Lufthansa Group, headquartered in Germany, directly employs 14,000 people across the United States. Its subsidiary, Lufthansa Technik, recently cut the ribbon on a world-class aircraft maintenance facility in Puerto Rico, employing 203 skilled workers (with plans to double in the next year).  But Lufthansa Technik’s local impact does not stop there – 140 more people are employed by other companies that provide Lufthansa with a variety of services, including Wasco, Genesis, Food Friends, Antilles, and Occupational Medical Services. This specific investment not only brings high-skilled jobs and workforce training to the community, it also establishes an important cornerstone for the local industry.

The landmark study released today, titled “Jobs Attributable to Foreign Direct Investment in the United States”, looks at these broader economic effects to estimate the larger impact.  Building on BEA’s data, the report uses the United States Applied General Equilibrium (USAGE) model to conservatively estimate the total number of jobs attributable to FDI through two channels.

The first channel includes 2.4 million jobs in supply and distribution chains related to foreign-owned enterprises and jobs stimulated by increased incomes. The second channel includes 3.5 million jobs attributable to productivity growth in manufacturing associated with FDI. In total, the report estimates that, in addition to 6.1 million direct jobs, at least 5.9 million indirect jobs also rely on FDI, totaling 12 million jobs.

This result shows clearly that FDI continues to be important to the U.S. economy. The United States is home to more foreign investment than any other country, and there are still opportunities to attract more. The SelectUSA program, also housed within ITA, offers services to foreign companies and U.S. economic development organizations to facilitate this investment.  Topics that are directly related to the economic effects discussed in the report, such as innovation, advanced manufacturing, and workforce development, will be on the agenda for the SelectUSA Investment Summit, coming up in June 2016.

View the full report 

 

h1

Expanding Small Business Owners’ Access to Our Data with Census Business Builder

September 10, 2015

This post originally appeared on the U.S. Census Bureau’s Director’s BlogThis post contains external links. Please review our external linking policy.

Map Depicting Employer Establishments in Fairfax County, Virginia

Map Depicting Employer Establishments in Fairfax County, Virginia

The U.S. Census Bureau is the premiere source of data about America’s economy and businesses, and we’re committed to making our data more accessible than ever before. I’m pleased to introduce our latest tool in that effort: Census Business Builder: Small Business Edition.

Every day, businesses large and small use Census Bureau data to make important decisions. Large companies have sophisticated research staff to do this work for them, but small business owners are often left to their own devices. We’ve talked to many entrepreneurs across the country, and a common request is for more Census Bureau data in an easier-to-use format. We listened, and in response, we developed Census Business Builder: Small Business Edition to provide them with easier access to more data.

Census Business Builder: Small Business Edition combines economic and demographic data in meaningful ways that are useful to the small business owner. Uniquely, Census Business Builder also uses third party data on consumer spending. While not produced by Census, we believe that the addition of this data will help deliver the information that’s most useful for small business owners’ needs. The result is an innovative data tool that will help small business entrepreneurs determine the best type and location for their small business.

To start, select your business type from a list of over 40 categories – such as a restaurant, construction company or beauty salon – and where you’re considering setting up shop.

Once you input this information, you see a map view of your selected location (county, city, town or ZIP code), along with relevant demographic, economic and housing characteristics for that area’s residents. You can pull up features of other businesses like yours – such as number of establishments or similar businesses, average payroll and consumer spending. You can also add filters in order to see cities, counties and neighborhoods with their potential customers’ desired income, education, poverty and employment characteristics.

The combination of economic and demographic data allows small business owners to make an informed decision about what type of business to open and where to locate it. Once you’ve gathered all of the information you want, Census Business Builder generates a detailed report on the characteristics of your desired geography, its residents and businesses. This critical information can be incorporated into a business plan, a business loan application or shared with others.

Census Business Builder increases the availability and usefulness of the statistics the Census Bureau collects, and it’s a valuable tool for small business owners across America. This is the latest in the Census Bureau’s digital transformation effort, along with major upgrades to Census.gov, an expanding open API, mobile apps and other interactive data tools.

We hope you visit Census Business Builder and give us your thoughts via the feedback button. Ideas for improvements to future versions of the tool will come from you, the user.

h1

Update to Important Commerce Data Tool Helps Businesses Improve their Export Services and Stay Compliant

August 6, 2015

This post originally appeared on the Department of Commerce blog.

Kimberly J.C. Becht is Deputy Director of Web Presence for the International Trade Administration

Staying compliant is an extremely important component to exporting. In 2010, the Department of Commerce’s Bureau of Industry and Security (BIS) accepted the Export Control Reform (ECR) Initiative mandate to create and publish the Consolidated Screening List (CSL). The CSL is a list of names or entities (individuals and organizations) with whom a U.S. company may not be allowed to do business with due to U.S. export regulations, sanctions, or other restrictions. BIS worked with the International Trade Administration (ITA) to create an ECR section on export.gov , where the business community could download the CSL as a text file. Every month, thousands of companies stay compliant by checking the CSL to determine if any of the parties in their overseas transactions are on it.

ITA's CSL application programming interface (API)

Screenshot of ITA’s CSL application programming interface (API)

In 2014, ITA “opened” the CSL data by publishing the CSL application programming interface (API). An API, or data feed, enables any web developer or software engineer to access the data in the CSL and integrate it into their own application. Major e-commerce sites, international shippers, and compliance software companies now use the CSL API every day to improve their services and help their customers stay compliant.

“Fuzzy Name Search” Improves Compliance for U.S. Companies

Based on requests from these companies, from ITA customers, and from export compliance experts, ITA has just released a new version of the CSL API that introduces “Fuzzy Name Search.” Fuzzy Name Search enables a company to search the CSL without knowing the exact spelling of an entity’s name.

This is particularly helpful when searching for names on the CSL that have been transliterated into English from non-Romance languages. Imagine doing business with individuals that have Cyrillic names:  it’s much easier to search the CSL for those names if you are not required to have the spelling exactly right.

Fuzzy Name Search works by including results that exactly match or nearly match the name that is searched and assigning a “score” to those results. Search results are then prioritized by score – the higher the score, the closer the match, so the higher the name appears in the search results. ITA uses Damerau–Levenshtein distance to calculate the score.

Find Entities More Easily With the Current CSL Tools

ITA has also updated the format of the two original text files containing the CSL that companies download from export.gov. If your company downloads these files on an ongoing basis, there are two changes to be aware of that accommodate how the information is now organized.

First, all of the information for an entity is contained in a single row, not multiple rows if the entity has several addresses or alternate names. Second, there are five new fields that provide information found on an entity’s ID such as Nationality and Place of Birth. Please visit the new CSL page on export.gov to get more detailed information.

Finally, to do a quick search for an entity, visit the new CSL search page on export.gov. Search any or all of the lists at once, turn fuzzy name search on or off, and restrict your searches to a particular set of countries.  It’s easy and it’s fast.

ITA continues to open data that helps U.S. companies that are starting to export or looking to expand into new overseas markets. Please provide your feedback on ways we can improve the many APIs we have available.

h1

New Top Markets Series Provides Data and Analysis to Help U.S. Exporters Compare Opportunities Across Borders

July 14, 2015

Marcus Jadotte is the International Trade Administration’s Assistant Secretary of Commerce for Industry & Analysis.

Top Markets Series: A Market Assessment Tool for U.S. ExportersLast year, the United States exported $2.34 trillion worth of goods and services—an all-time record. Exports from the United States in 2014 equaled the entire gross domestic product of Brazil and exceeded all commercial output in India, Italy, or Mexico. What is more, exports are an increasingly important aspect of the U.S. economy. As the significance of exporting grows, the Obama administration and the Department of Commerce is committed to providing the data and analytics U.S. companies need to compete effectively in foreign markets.

To meet this objective, the International Trade Administration (ITA) is leading the NEI Next Initiative, a customer service-driven strategy that is delivering improved information to American businesses to help them win when competing abroad. Of course, winning in foreign markets is often a case of investing resources as strategically as possible – i.e., picking which market to introduce a new product; or choosing whether to expand in one market or focus on opportunities elsewhere. That is why we are proud to release a new product line today: ITA’s Top Markets Series.

The Top Markets Series is a collection of 19 sector-specific reports that are designed to help U.S. exporters compare markets across borders, using market intelligence and data to inform decision-making. From aircraft parts to civil nuclear energy, green buildings and cloud computing, to media and entertainment, each Top Markets Report includes commentary on opportunities, trends, and challenges facing U.S. exporters in the largest potential markets. The reports combine the unique expertise of ITA’s sector leads in Industry & Analysis with economic data and the views of our staff stationed around the world.  Exporters can access full reports or view individual sections; collectively, the series includes more than 200 pieces of individually-viewable market intelligence.

In addition to U.S. businesses, Top Markets Reports are a tool that federal agencies are using to prioritize export promotion activities and trade policy initiatives. Our efforts will make all of us more efficient, as we target limited resources at those markets and sectors most likely to benefit from U.S. government support. For example, within ITA, we are working to coordinate our trade missions, trade fairs, and International Buyers Program recruitment with the strategic opportunities identified in the Top Markets series.

We anticipate updating ITA’s Top Markets rankings on an ongoing basis and will release new reports annually. Over the next several months, we look forward to hearing feedback from exporters and will incorporate suggestions into next year’s versions of the Top Markets Reports.

To download a full report or view individual case studies within each report, visit http://www.trade.gov/topmarkets.

h1

U.S. Metropolitan Areas Set Export Highs in 2014

July 9, 2015

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

2014 Metropolitan Area ExportsToday, U.S. businesses are increasingly taking advantage of export opportunities. The data makes it clear. Companies based in the United States that sell their world-class goods to the 96 percent of potential customers who live outside our borders are critical to both the local and national economy. This is evident in today’s release of the 2014 Metropolitan Area Export Overview. The report highlights data on goods exported from U.S. metropolitan areas in 2014. Some of the nation’s most prominent cities are leading in trade and setting new export records.

Metro area exporters are breaking down trade barriers around the world and are expanding their businesses by reaching global markets. Doing so enhances the international competiveness of U.S. firms while also creating more well-paying jobs here at home. U.S. metropolitan area goods exports exceeded $1.44 trillion in 2014, up $36 billion from 2013, and accounted for 89 percent of total U.S. goods exports last year. There were 139 metro areas that registered record goods exports in 2014, and for the first time ever, 161 metropolitan areas each tallied goods exports worth more than $1 billion in 2014.

The energy and excitement metropolitan areas bring throughout the nation is driving creativity and partnerships. U.S. businesses are exporting the quality products of American innovation and hard work to customers across the globe. For example, during the past several years, we have seen a boom in the great city of Houston. For a third consecutive year, the city has ranked number one with total goods exports of $119 billion.

The metropolitan areas of New York City, Los Angeles, Seattle, and Detroit round out the top five metropolitan areas for goods exports. Twenty-nine of the top 50 metropolitan area exporters recorded positive growth in goods exports between 2013 and 2014. Twenty-six of these areas set record export levels last year.

Top 50-ranked metropolitan areas that exhibited particularly high growth in goods exports from 2013 to 2014, included El Paso, Texas (up nearly 40 percent); San Antonio, Texas (nearly 34 percent); Charleston, S.C. (up more than 69 percent); and Greenville-Anderson-Mauldin, S.C. (up nearly 25 percent) — each reaching a record for that metro area.

For more information on ITA’s Metropolitan Export Series including a complete methodology and FAQs, visit the Metropolitan Export Series homepage.

h1

The 2015 Spring Travel Forecast

June 1, 2015

Jennifer Gardner is an intern in the Office of Public Affairs.

Today, Secretary of Commerce Penny Pritzker attended the U.S. Travel Association’s IPW conference where she spoke on the continued strong growth for international travel to the United States.  Secretary Pritzker announced the 2015 Spring Travel Forecast which projects the United States will see 3.8 to 4.6 percent annual growth rates in visitor volume during the 2015-2020 timeframe. By 2020, this growth would produce 96.4 million visitors, an increase of 21 million visitors when compared to 2014.

More than 1,000 U.S. travel organizations from every region of the nation, and more than 1,300 international and domestic buyers from more than 70 countries are gathered this week at IPW in Orlando, Florida. This conference is the travel industry’s premier international marketplace and the largest generator of travel to the United States.

Travel to the United States supported 1.1 million jobs and brought in $221 billion in 2014. As the visitor volume is expected to increase 3.8 percent in 2015, the amount of visitors staying one or more nights is projected to reach 77.6 million.

It’s no surprise that the top two markets generating visitors to the United States are Canada and Mexico. Expected to grow by 6.3 million from 2014 to 2015, Mexico would set another record volume level. Canada is also expecting a 15 percent increase.

The Asia-Pacific region is projected to generate a 49 percent increase in visitors by 2020. With these projections, China would account for the second-largest number of additional visitors behind Mexico.

Europe and South America are also anticipated to realize a 21 and 34 percent increase in visitors to the United States by 2020, respectively.  Europe is projected to reach 16.7 million visitors with the largest growth coming from the United Kingdom, France, Italy, and Germany. South America will generate nearly 1.9 million more visitors. Visitors from Brazil, the largest source market in the South American region, are expected to increase 38 percent by 2020.

See the full 2015 Spring Travel Forecast at http://travel.trade.gov/view/f-2000-99-001/index.html.

h1

BEA’s New Data Tool Provides Fast Access to Trade and Investment Stats for Countries

May 28, 2015

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

This post originally appeared on the Department of Commerce blog.

BEA’s New Data Tool Provides Fast Access to Trade and Investment Stats for Countries

BEA’s New Data Tool Provides Fast Access to Trade and Investment Stats for Countries

A new data tool–International Trade and Investment Country Facts Application–on the Bureau of Economic Analysis website gives users a snapshot of statistics on trade and investment between the United States and another country by simply clicking on a world map.

These fast facts at your fingertips can include:

  • Total exports, imports and trade balance between the United States and the country you select.
  • The top five categories of goods and services the United States buys from and sells to that country.
  • Country level data on U.S. direct investment abroad and foreign direct investment in the United States and on the activities of multinational enterprises such as employment and sales.

The country snapshots, or factsheets, also contain charts and can be printed or downloaded to a spreadsheet. The new data tool pulls statistics from BEA’s international data sets on exports, imports, direct investment, and the activities of multinational enterprises into a single easy-to-digest resource. Similar to the BEA’s BEARFACTS regional factsheets for state and regional economic data, the new international factsheets can be used to quickly get up to speed for a business presentation, a news story, or a school research project.

Users select a country from an interactive world map or a searchable menu of countries. The tool generates a country factsheet with graphs and tables showing the latest data on U.S. trade and investment with that country. A PDF of the factsheet is available for easy printing. The tool also provides data tables containing more detailed statistics that can be downloaded in Excel format.

To access the new international data tool, visit http://bea.gov/international/factsheet/. For a video tour of the new data tool, visithttps://youtu.be/xgLdKJV-g2g

This new data tool is just one of the ways that BEA is innovating to better measure the 21st Century economy. Some of the trade data used in the new tool comes from the U.S. Census Bureau, another Commerce Department agency, underscoring the how agencies within Commerce work together to make data even more accessible to the American public.

Providing businesses and individuals with new data tools like these – not only deepens their understanding of the U.S. economy – but also fulfills a strategic goal contained in the Commerce Department’s “Open for Business Agenda.” And, that is to make data even more accessible and easier to use.