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 U.S.
EXPORT
FACTS
Prepared by the Office of Trade & Economic Analysis Trade
Development with additional comments by the Ypsilanti U. S. Export Assistance Center
US Goods and Services
In 1998 U.S. exports totaled $934 billion, but were down a half a
percent from the previous year total. For the three-quarters of 1999, exports were up just
2 percent, but now the growth appears to be accelerating. The recent stagnation in U.S.
exports reflects in large part unfavorable economic conditions abroad.
US Goods (Merchandise)
Goods exports were $670 billion in 1998. This represented a decline
of just over one percent compared to 1997, breaking a 12-year string of increases. During
the first nine months of 1999, exports are up about 1 percent. The Asian financial crisis
and other economic difficulties abroad have prevented export growth over the last two
years.
The United States accounted for just over one-eighth of global
merchandise exports in 1998.
U.S. multinational companies participated in almost two-thirds of
U.S. goods export transactions, either as the exporter and/or the foreign purchaser
Manufactured goods comprised 87 percent of total goods exports in
1998, followed by agricultural commodities (8 percent, mineral fuels (2 percent) and
miscellaneous items (3 percent).
Canada ($157 billion) continued to be the largest export market by
far, nearly twice the value of runner-up Mexico ($79 billion) in 1998. Japan ($58 billion)
remained number three, followed by thc United Kingdom ($39 billion) and Germany ($27
billion).
California ($99 billion) was the largest exporting state in 1998,
with Texas ($59 billion), New York ($46 billion), Michigan ($39 billion) and Washington
($38 billion) rounding out the top five.
Seattle-Bellevue-Everett, with foreign shipments of $34.0 billion,
was the largest metropolitan area exporter in 1998, followed by Detroit ($27.0 billion),
New York City ($26.6 billion), San Jose ($26.1 billion) and Los Angeles-Long Beach ($25.6
billion).
Exports of services during 1998 were $264 billion, slightly more than
the 1997 total. Service exports have exceeded service imports every year since 1970,
helping to offset the goods trade deficit.
Travel, passenger fares and other transportation accounted for 44
percent of total services exports (receipts), with direct private business
services--e.g.,
telecommunications, engineering, advertising and accounting accounting for another 35
percent.
Trade and the Domestic Economy
U.S. exports of goods and services are estimated to support some 12
million domestic jobs. Each billion dollars in exports support on average about 13,000
jobs.
Jobs supported by U.S. goods exports, either directly or indirectly,
pay wages estimated to be 13 percent higher than the average domestic wage. For
high-technology industry jobs directly supported by exports, average hourly earnings are
34 percent higher than the national average.
For 1997 (the latest year for which Exporter Data Base figures are
available) almost 210,000 U.S. firms exported goods, nearly double the 1992 total of
113,000.
97 percent of these companies were small or medium-sized (fewer than
500 employees).
While large firms (500 or more employees) accounted for just over 3
percent of all exporters, they were responsible for almost 70 percent of U.S. merchandise
exports in 1997.
- About two-thirds of U.S. exporting firms were classified as wholesalers, retailers,
brokers and other intermediaries.
- Nearly 50% of the manufacturers and software developers in Washtenaw County are
exporters. This compares to 20% of all firms in Michigan and about 8% of US
Manufacturers.
- The first market of choice for Washtenaw County is Canada.
Additional information is available from the Ypsilanti U. S. Export Assistance Center, a
joint venture between Eastern Michigan University School of Business and the US Department of
Commerce, US Commerical
Service.
Date
Updated: March 27, 2007
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