8/9/2019 Top 10 Overlooked Facts About International Trade
1/8
U.S. Chamber of Commerce
1
OVERLOOKE
INTERNATIONAL TRADFACTS ABOUT
8/9/2019 Top 10 Overlooked Facts About International Trade
2/8
1
1
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.
2
80% 92% 95%Outside our borders are markets that represent
of theECONOMICGROWTH
of itsCONSUMERS
THE POSSIBILITIES ARE ENDLESS.
of the WORLD’SPURCHASINGPOWER
1
8/9/2019 Top 10 Overlooked Facts About International Trade
3/8
1
1
4
3
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
8/9/2019 Top 10 Overlooked Facts About International Trade
4/8
1
16
5
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
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
Agricultural Products
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
8/9/2019 Top 10 Overlooked Facts About International Trade
5/8
1
18
7
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.
38
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
8/9/2019 Top 10 Overlooked Facts About International Trade
6/8
1
1
9
10
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.
8/9/2019 Top 10 Overlooked Facts About International Trade
7/8
1
1
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.
8/9/2019 Top 10 Overlooked Facts About International Trade
8/8
Top Ten Overlooked Facts About Trade
8
1615 H Street, NW | Washington, DC 20062-2000www.uschamber.com