National Export Initiative Priority Markets: China

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The U.S. Commercial Service is the trade promotion arm of the U.S. Department of Commerce’s International Trade Administration. U.S. Commercial Service trade professionals in over 100 U.S. cities and in more than 75 countries help U.S. companies get started in exporting or increase sales to new global markets. So far this year, we have helped American business achieve 6,400 export success stories.

This is a featured video from the National Export Initiative Priority Markets series.

China

58 percent of U.S. exporters export to only one market, mainly Canada. Many small and midsized companies that work with the U.S. Commercial Service have found new customers in dozens of markets. Among the best prospect markets for U.S. companies are Vietnam, India, Indonesia, China, Taiwan and Thailand. From the short videos on this page, you’ll learn why these markets are important. You’ll also learn about a few of the many sectors where U.S. companies are competitive. Importantly, you’ll also meet the top U.S. commercial diplomats in these markets who, along with their staff of local market and industry experts, will help you evaluate, enter and succeed.

China is the world’s fastest-growing major economy, and the fastest-growing U.S. export market. It is now our second-largest trading partner. While China’s GDP grew by 10.3 percent in 2010, U.S. exports to China were up 32 percent, reaching $92 billion, and have more than quadrupled since 2000. Our trade deficit in goods with China totaled $273 billion in 2010, but we had a surplus of $6.7 billion in services trade in 2009. China is the world’s third-largest market for luxury goods behind Japan and the United States. There are more than 200 million Chinese citizens with a per capita income over $8,000, and most economists predict a surge in the number of people achieving true middle class status during the next several years.

For more information about China:

 

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