Top 10 Overlooked Facts About International Trade

8/9/2019 Top 10 Overlooked Facts About International Trade

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U.S. Chamber of Commerce

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OVERLOOKE

INTERNATIONAL TRADFACTS ABOUT


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U.S. factories havenearly doubled their output in the past twodecades and today account forone-fth of world manufacturing valueadded—a share greater than that of China, India, Brazil, and Russia combined.

ONE IN FOUR manufacturing jobs depends on exports.

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80% 92% 95%Outside our borders are markets that represent

of theECONOMICGROWTH

of itsCONSUMERS

THE POSSIBILITIES ARE ENDLESS.

of the WORLD’SPURCHASINGPOWER

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on American farms is planted for export. U.S. farmersand ranchers are the world’s most productive and top

the global export rankings for a host of commodities.

U.S. SERVICES EXPORTStop $700 billion dollars annually, with a trade

surplus of more than$200 billion.The United States is home to large numbers of world beating

services rms in such sectors as audiovisual, banking,energy services, express delivery, information

technology, insurance, and telecom.

ONEIN THREEACRES


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While they represent just 6% of the world’s population,America’s free trade agreement (FTA) partners buy

nearly half of U.S. exports.In other words, FTAs can make

big markets even out of small economies.

The United States has a

TRADE SURPLUSwith its 20 FTA partners—in manufactures, services,and agricultural products. If you’re worried about thetrade decit, FTAs are the solution—not the problem.

Free Trade AgreementFree Trade Agreement

Free Trade Agreement

TRADE manufactures

MANUFACTURES

m a n u

f a c t u r e s

M A N U F A C T U R E S

MANUFACTURES

MANUFACTURES

S E R V I C E S

SERVICES

SERVICES

SERVICES

SERVICES

Agricultural Products


SOLUTION

A G R I C U L T U R A L P R O D U C T S

AGRICULTURAL PRODUCTS

E x p o r t

Export

EXPORT

EXPORT

EXPORT

Import

import

I M P O R T

Import

IMPORT

Import

Import

TRADE

TRADE

T R A D E

T R A D E Trade

Trade

T R A D E

TRADE

m a n u f a c t u r e s

manufactures


E X P O R T

Import

Import

S O L U T I O N

SOLUTION

SOLUTION

S O L U T I O N

SOLUTION

SOLUTION

S E R V I C E S

SERVICES

Import

T R A D E

Free Trade Agreement

SOLUTION


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Imports mean lower prices and more choices for Americanfamilies as they try to stretch their budgets and for companiesseeking raw materials and other inputs. Access to imports booststhe purchasing power of the average American household by

about $10,000 annually.

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JOBS in the United States—more than onein ve American jobs. The expansionin trade spurred by U.S. FTAs sustainsmore than ve million of those jobs.

Trade supports

MILLION


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98% of the305,000 U.S. companies thatexport their products are small and medium-sized companies.While large companies account for a majority of exports,small and medium-sized companies account for more thanone-third of all U.S. merchandise exports.

U.S. exports of goods and services reached nearly

$2.35 trillion in 2014.In other words, American workers, farmers and

companies can compete and win in the world economy.


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ReferencesAll data from the U.S. Department of Commerce, except:

1. IMF and World Bank. 2. U.S. Department of Commerce; UNIDO. 3. U.S. Department of Agriculture. 7. Peterson Institute for International Economics. 8. Studies by Trade Partnership Worldwide, LLC, for

Business Roundtable and the U.S. Chamber of Commerce.


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Top Ten Overlooked Facts About Trade

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1615 H Street, NW | Washington, DC 20062-2000www.uschamber.com

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Top 10 Overlooked Facts About International Trade