Sunday, November 7, 2010

Exports are front and center right now---who do we export to? What do we export? Some answers to those questions enclosed...

Some great, easy to read statistics on US Exports of goods, which is the focus of Pres. Obama's current trip overseas.  The first list gives the Top destinations, the second gives the countries with the fastest growth in demand for US goods, and the third gives examples of top exports.  Notice much of them are in the form of inputs that go into making finished goods that we will in turn IMPORT back to the US.  This may be the Achilles heel of trying to increase the export of FINISHED US goods.  It largely depends on the incomes of people in the countries the President is visiting.  Incomes they earn producing FINISHED goods from the inputs we EXPORT to them to make the finished goods that they...well, you get the picture...

Top 10 Countries for U.S. Exports in 2010

The following list identifies the top 20 trade partners and the value of U.S. exports consumed from January to June 2010. Also shown is the percentage increase over the first 6 months of 2009, and the percentage of overall U.S. exports consumed by each country.

These 20 countries received 78.8% of the value of all U.S. exports as of June 2010.

1.Canada … US$121.9 billion, up 26.8% from 2009 (19.9% of US total exports)

2.Mexico … $77.3 billion, up 31.8% (12.6%)

3.China … $41.2 billion, up 35.6% (6.7%)

4.Japan … $29.2 billion, up 18.1% (4.8%)

5.United Kingdom … $24.3 billion, up 6.4% (4%)

6.Germany … $23.2 billion, up 9.5% (3.8%)

7.South Korea … $19.2 billion, up 52.7% (3.1%)

8.Brazil … $16.4 billion, up 37.7% (2.7%)

9.Netherlands … $16.2 billion, down 1% (2.7%)

10.Singapore … $14.2 billion, up 42.4% (2.3%)

11.France … $13 billion, down 6.3% (2.1%)

12.Belgium … $12.3 billion, up 16.1% (2%)

13.Hong Kong … $12.3 billion, up 26.4% (2%)

14.Taiwan … $12.1 billion, up 59.5% (2%)

15.Australia … $10.5 billion, up 15.2% (1.7%)

16.Switzerland … $9.7 billion, up 7.6% (1.6%)

17.India … $9.2 billion, up 22.9% (1.5%)

18.Italy … $7 billion, up 14.6% (1.1%)

19.Malaysia … $6.6 billion, up 50.3% (1.1%)

20.Colombia … $5.9 billion, up 35.8% (1%).

Among these top 20 countries, 18 or 90% increased their purchases of U.S. exports during the first 6 months of 2010.
Only the Netherlands (down 1%) and France (down 6.3%) decreased their consumption of American products over that time period
Fastest-Growing Demand for U.S. Exports by Country

Led by Taiwan, Asian countries topped the list of highest percentage gains for the top 18 countries consuming more U.S. exports.

A total of 15 nations generated double-digit increases in their purchases of American exports from January to June 2010.

1.Taiwan … up 59.5% to US$12.1 billion

2.South Korea … up 52.7% to $19.2 billion

3.Malaysia … up 50.3% to $6.6 billion

4.Singapore … up 42.4% to $14.2 billion

5.Brazil … up 37.7% to $16.4 billion

6.Colombia … up 35.8% to $5.9 billion

7.China … up 35.6% to $41.2 billion

8.Mexico … up 31.8% to $77.3 billion

9.Canada … up 26.8% to $121.9 billion

10.Hong Kong … up 26.4% to $12.3 billion

11.India … up 22.9% to $9.2 billion

12.Japan … up 18.1% to $29.2 billion

13.Belgium … up 16.1% to $12.3 billion

14.Australia … up 15.2% to $10.5 billion

15.Italy … up 14.6% to $7 billion

16.Germany … up 9.5% to $23.2 billion

17.Switzerland … up 7.6% to $9.7 billion

18.United Kingdom … up 6.4% to $24.3 billion.

Not only did the United States grow its export sales by a robust 24.5%, that growth is diversified across a high percentage of the countries with which the USA does business.
America’s top trading partners continue to buy more U.S. exports. This in turn generates more cash flowing back to the United States as its economy recovers.

Top Export Products behind US Export Gains

Chemical products dominated the list of fastest-growing U.S. exports for the first 4 months of 2010, with 5 chemical products among the top 10 export categories.

In first place was the industrial chemical ethyl alcohol with U.S. export sales of $267 million, a 374.1% gain over the first 4 months of last year.

In fifth place, U.S. export sales of polycarboxylic acids gained 199.2% to $457.3 million. Polycarboxylic acids have a wide range of uses from increasing the wet strength of paper to preparing drug salts.

Prepared pigments used in ceramic, enameling and glass products posted a 172.2% rise to $223.5 million.

Used in making plastics, nylons and cosmetics, U.S. exports of phenol-alcohol were ahead 159.1% to $281.4 million.

U.S. metal exports were also among the winners. Refined copper shipments spiked 269.6% to $373.6 million, while iron ore exports climbed 223.3% to $206.6 million. Flat-rolled stainless steel products gained 148.9% to $360.6 million, while aluminum exports were ahead by 100.9% to $283.4 million.

The U.S. also exported 258.4% more flat panel manufacturing equipment parts to other countries, for a total of $3.6 billion in just 4 months.

There were some niche export products with significant gains as well. Exports of buffalo, cow and horse hides and skins were up 125.6% to $208.4 million.

Exports of U.S. soybean oil soared 120.1% to $588.1 million. Sales of articles made with precious metal improved by 149.2% to $94.7 million.
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