American Exports: ‘Enormous Potential’

‘With 95 Percent Of The World’s Customers Living Outside Of U.S. Borders, There Is Enormous Potential For Our Businesses’

Key Export Facts

$2.4 TRILLION: “U.S. exports of goods and services tallied a record $2.35 trillion in 2014. That was the fifth consecutive year we achieved record exports.” (Dept. Of Commerce, “Increased Exports And The Jobs Supported By Exports Are Keys To Heightened Economic Confidence,” 3/11/15)

$765 BILLION IN GOODS: ‘Nearly half of all U.S. exports’ went to our 20 free trade partners. In 2014 “…U.S. exporters reaped the benefits of a record year of exports with our 20 free trade partners – with a total of $765 billion in goods sent to these markets. That record included increases in exports to Colombia (up 10.5%), South Korea (up 6.8%) and the Central America Free Trade Agreement-Dominican Republic partners (up 5.7%). Overall, these 20 countries purchase nearly half of all U.S. exports today – 47% to be exact.” (Dept. Of Commerce, “Increased Exports And The Jobs Supported By Exports Are Keys To Heightened Economic Confidence,” 3/11/15)

11.7 MILLION JOBS: “…a record year when it came to export-supported jobs: more than 11.7 million.” (Dept. Of Commerce, “Increased Exports And The Jobs Supported By Exports Are Keys To Heightened Economic Confidence,” 3/11/15)

305,000 COMPANIES: “Nearly 305,000 U.S. companies exported goods in 2012 (latest data available), a record-high. Small-and medium-sized exporters (SMEs) accounted for 98% of exporters…” (Dept. Of Commerce, “U.S. Trade Overview, 2013,” 10/14, P.4)

“Currently, around 300,000 small-and medium-sized businesses across the 50 states export goods to foreign destinations, supporting millions of American jobs through direct exports and participation in supply chains. Impressive as they are, these figures only scratch the surface of what is possible.” (“United States Of Trade,” Dept. Of Commerce, 2015)

PRESIDENT RONALD REAGAN: “I certainly don't have to explain the benefits of free and open markets to you. They produce more jobs, a more productive use of our nation's resources, more rapid innovation, and a higher standard of living. They strengthen our national security because our economy, the bedrock of our defense, is stronger. … Our commitment to free trade is undiminished. We will vigorously pursue our policy of promoting free and open markets in this country and around the world.” (President Reagan, Remarks, 9/23/85)

‘There Is Enormous Potential For Our Businesses’

95%: “With 95 percent of the world’s customers living outside of U.S. borders, there is enormous potential for our businesses – and small businesses in particular – to grow their exports, hire more American workers, and expand their bottom lines.” (“United States Of Trade,” Dept. Of Commerce, 2015)

200 TRADE DEALS: “In recent years, countries across the Asia-Pacific have struck more than 200 trade deals, while American workers and businesses have largely missed out.” (“United States Of Trade,” Dept. Of Commerce, 2015)

###
SENATE REPUBLICAN COMMUNICATIONS CENTER

Related Issues: Jobs, Economy, Free Trade, Trade Promotion Authority, Middle Class

Next Previous