Watch a Free Webinar: Trade Financing Part 2

By: Omari Wooden

Learn about the financing options available to help you start exporting with our seventh webinar of the Go Global series,  Trade Financing: Part 2.

Working capital is available under a U.S. government-guaranteed loan program or as a direct loan up to $500,000 to help fund any export development activity, including:

  • Translating your product literature or website
  • Participation in a foreign trade show or trade mission
  • Foreign travel to meet potential business partners
  • Funding your export orders

As if that did not sound good enough, there are also guaranteed-loans for up to $5 million available to fund your export transactions. In addition, a credit insurance policy allows you to reduce 95% risk of non-payment. Watch the webinar to learn more.

The next free webinar is on August 27th and will focus on the Automated Export System requirements - Documentation and Shipping.

To register:
1.  Approximately 15 minutes prior to the start of the webinar, go to our training page.
2.  Click on the Go Global webinar series.
3.  Click on the log-in information and call into the dial-in number.

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June Exports Set Records

By: John Sperry

In June, the Nation’s international trade deficit decreased to $34.2 billion from $44.1 billion in May (revised), as exports increased and imports declined.  Exports increased $4.1 billion to a record high $191.2 billion primarily due to increases in industrial supplies and materials ($1.5 billion) and capital goods, ($1.5 billion) which also set a record high ($46.2 billion).  Imports decreased $5.8 billion to $225.4 billion, primarily driven by decreases in industrial supplies and materials ($2.5 billion) and consumer goods ($1.6 billion).  Following two months of increases in petroleum imports, June petroleum imports ($29.0 billion) contributed to the lowest petroleum deficit ($17.4 billion) since August 2009 ($17.3 billion).

Second Calendar Quarter Sets Export Records

With the highest on record goods ($134.3 billion) and services ($56.9 billion) exports in June, the second calendar quarter of the year closed with both record high exports of goods ($395.7 billion) and services ($170.1 billion).  As seen in the graph, these quarterly records led to the highest quarter exports on record ($565.8 billion).  For more historical trade data visit our website.

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Watch a Free Webinar: Trade Financing Part I

By: Omari Wooden

Yesterday we held the sixth webinar of the Go Global series focusing on: “Trade Financing: Part I”.

Learn more about the financing options to get started. Working capital is available under a U.S. government-guaranteed loan program or as a direct loan up to $500,000 to help fund any export development activity including:

  • Translating your product literature or website
  • Participation in a foreign trade show or trade mission
  • Foreign travel to meet potential business partners
  • Funding your export orders

As if that did not sound good enough, there are also guaranteed-loans for up to $5 million available to fund your export transactions. In addition, a credit insurance policy allows you to reduce 95% risk of non-payment.  Watch the webinar to learn more.

The next free webinar is on August 13 and will also focus on Trade Financing.

To register:
1.  Approximately 15 minutes prior to the start of the webinar, go to our training page.
2.  Click on the Go Global webinar series.
3.  Click on the log-in information and call into the dial-in number.

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Find Buyers and Make Contacts Abroad: How the Foreign Agricultural Service Can Help

By: Omari Wooden

The fifth Go Global webinar was held last week, focusing on: “Finding Buyers and Making Contacts: Part II”.

You can access the webinar here.

Learn about the services the Foreign Agricultural Service offers you for the export of food or agricultural products. These include:

  • Customized export assistance
  • Cost-share export promotion funding
  • Trade show exhibit support
  • Training and trade missions

The Foreign Agricultural Service collaborates with 75 groups in the industry, manages a toolkit of market development programs, and provides credit guarantee programs.  They also provide unique market intelligence on foreign market opportunities, online databases of foreign buyers, U.S. suppliers, and trade leads.

Tune into the Go Global Webinar Series.  Each webinar is led by financial, regulatory, and trade experts and focuses on different topics – from picking your market, accessing trade data, learning about available financing options, just to name a few.

The next free webinar is on Trade Financing.

To register:
1.  Approximately 15 minutes prior to the start of the webinar, go to our training page.
2.  Click on the Go Global Webinar Series.
3.  Click on the log-in information and call into the dial-in number.

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View Foreign Trade Regulations Webinar Today

By: Omari Wooden

If you want to know more about the Foreign Trade Regulations, here is your free opportunity to do so!

Learn about what has changed and how it affects you.

The webinar will focus on changes in reporting requirements, new fields added to the Automated Export System (License Value and Ultimate Consignee Type), changes in definitions, such as port of export and household goods and much more.

The FTR Town Hall Webinars will be held on the dates below at 2pm EST:

Thursday, July 18
Thursday, August 8
Thursday, September 5
Thursday, October 3
Thursday, November 7
Thursday, December 12

Registration is free and easy:

  1. Approximately 15 minutes prior to the start time, go to the registration page.
  2. Click on the log-in information and dial into the webinar.

 

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Successfully Sharing Foreign Trade Data

By: Kristen Nespoli

History in the Making
In July 1987, the United States and Canada decided to try something unique and exchange data. Canada would use U.S. imports from Canada as their export data, and the U.S. would use Canadian imports from the U.S. as their export data.

While the statistical agencies were the agents behind the exchange, U.S. Customs and Border Protection and the Canadian Border Services Agency also had to be on board since they were the administrators of the trade data. Because of the complexity and magnitude behind the Data Exchange, it wasn’t implemented until the January 1990 statistics – yes, three years later.Effects of Sharing Data

Increased Reliability of Export Data
The Data Exchange significantly reduced the amount of non-reported exports on each side of the border. Before the Data Exchange, export statistics were derived mostly from paper documents. This, inevitably generated ongoing reporting and collection problems. Occasionally we relied on the good aim of truckers who would toss the documents into a box at the border. It was estimated the understatement of U.S. exports to Canada had reached over 20 percent. These errors affected the published trade balances and consequently the data users who relied on accurate statistics.

Reduced Burden of Exporters of Both Countries
For 2012, U.S. exports to Canada totaled $291.8 billion and Canadian exports to the United States totaled $329.9 billion – that is a lot of information to file! It is estimated that in 2012, U.S. exporters saved 574,644 hours of work worth $10.3 million by not having to fill out export documentation that did not require licenses(Department of Labor’s Occupational Employment Statistics ).

Changes to Operations in Statistical and Customs’ Agencies
Statistical agencies had to establish new procedures to use import data to serve as export data, including converting values using exchange rates.

Another change involved managing information for enforcement and administrative purposes. In order to satisfy confidentiality requirements of both countries, both countries agreed that the exchanged data could only be used for statistical purposes.

Challenges…what challenges?
As with all relationships, there can be some rough patches. When the U.S. Government shut down for an extended period in the mid 1990’s, both the United States and Canada had to delay their monthly releases. Statistics Canada could not receive our data, and their exports to the United States represented well over half of their total export trade.

Challenges also may arise when verifying data. Because each agency must verify each others’ data, if analysts on either side respond late, there can be an impact on data quality and publishing deadlines.

When the U.S. moved daylight savings time a month earlier in 2007, it caused a problem. Both countries had to agree to release their statistics on the same day at the same time to protect the security of the economic indicators. After many negotiations, the Canadian government made a similar change to the daylight savings time period, and the problem was resolved.

The Census Bureau and Statistics Canada have paved the way to maximize the use of trade data through an enduring partnership for over 20 years -one that serves as a model to the rest world!

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May Automotive Trade Sets Records

By John Sperry

In May, the Nation’s international trade deficit increased for the second consecutive month to $45.0 billion from $40.1 billion in April (revised), as imports increased and exports declined.  Imports increased $4.4 billion to $232.1 billion, primarily driven by $1.0 billion increases in both industrial supplies and materials and consumer goods.  Meanwhile, exports declined $0.5 billion to $187.1 billion primarily due to decreases in consumer goods ($1.2 billion) and industrial supplies and materials ($0.9 billion).

Automotive Trade Sets Records

Automotive vehicles, parts, and engines were highlighted this month setting both record high imports ($26.0 billion) and exports ($13.1 billion).   The graph below tracks import and export levels for automotive vehicles, parts, and engines from May 2006 to May 2013.  As seen below, both imports and exports have more than doubled since achieving decade lows in January 2009 for exports ($5.4 billion) and in May 2009 for imports ($10.2 billion).  For historical automotive vehicles, parts, and engines data use the following links for exports and imports.

 

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Caution: HOT Commodity!

By: Stephen Jackson

What do people need most to get work done? COFFEE!

I personally love coffee. No matter what the time of day or where it comes from, there’s nothing like a fresh cup of coffee! A cup of coffee is the perfect excuse to bring together old friends, encourage you to tackle that pile of work or simply just to stay awake.

No matter how people use coffee, it adds up to BIG money in international trade. Guess it’s not just me who has found a special relationship with coffee–it’s a worldwide love affair!

Just How HOT Is Coffee?

Let’s look at the numbers to see just how much this commodity is traded. Using statistics from USATradeOnline, I pulled the trade data available for coffee (Schedule B Heading: 0901 for coffee, coffee husks, substitutes with coffee) for the geographic regions and the world total from 2003 to 2012.

Just as expected, coffee is a HOT commodity (can’t help myself). But seriously, since 2003, coffee imports have increased reaching a high level in 2011 of $7.65 billion; that’s a 330% increase from $1.77 billion in 2003! Not only is the U.S. spending more on coffee, we have also increased our coffee export value since 2003 by 261% from $296 million to $1.07 billion in 2012.

Where Does the Coffee Come From?

Good question! Because the trade data we collect is so detailed, we can see which geographic regions supply the most coffee to the U.S. Although the number one spot goes to Latin America (South and Central America) – as you probably guessed already- the second spot seems to be more up for grabs. Asia and North America have swapped the second position in the trade totals for coffee since 2003 with Asia most often occupying the runner-up position. The smallest amount of coffee trade (imports and exports) comes from the same geographic region, Australia and Oceania.

Exports from the U.S. have increased dramatically as mentioned earlier. While the largest segment of coffee exports in volume goes to North America, the largest percentage change is seen with the Africa geographical region. From 2003 to 2012, this region increased coffee exports by more than 1400%! The largest change occurred from 2011 to 2012 when exports grew from $321 thousand to $1.59 million.

More Data

Okay so now that you’ve seen the numbers from the USATradeOnline data, let me show you a little more proof of just how big business coffee is . Using the American Fact Finder and looking at data provided from the 2002 and 2007 Economic Censuses, we can see growth in terms of number of establishments, sales, annual payroll and number of paid employees for the coffee industry in the U.S. The growth mimics what we see in the trade data. Economic Census Data for coffee shops (NAICS 7222135) in 2002 and in 2007 show:

Do you think your business can be competitive in the coffee market? Check out our data on USATradeOnline and American Fact Finder or research the trade information yourself at Export.gov and to see where your next market might be.

Coffee…it really is a HOT Commodity!

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Find Buyers and Make Contacts Abroad: How the U.S. Commercial Service Can Help

By: Omari Wooden

The fourth Go Global webinar was held yesterday, focusing on: “Finding Buyers and Making Contacts: Part I”.

You can access the webinar here.

The U.S. Commercial Service has over 1,400+ trade professionals in 109 domestic offices and 128 U.S. Embassies and Consulates to help you connect with high quality foreign buyers through customized trade counseling, business matchmaking, and market intelligence. You can also participate in trade events as a cost-effective, high-impact way to find new customers. Events include trade missions accompanied by foreign buyer delegations and major foreign trade shows.

If you want to start exporting, but not sure where to start, you should tune in to the Go Global Webinar Series. The Census Bureau partnered with other government agencies to bring to you the resources available to help you succeed.

Each webinar is led by financial, regulatory, and trade experts and focuses on different topics – from picking your market, accessing trade data, learning about available financing options, just to name a few. Best of all, they are free!

You can’t afford to miss out.

Sign up for upcoming webinars at: http://go.usa.gov./T37A

Registration closes 24 hours before each webinar.

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Use Data To Pick Your Next Market

By: Omari Wooden

If you want to start exporting, but not sure where to start, you should tune in to the Go Global Webinar Series. The Census Bureau partnered with other government agencies to bring to you the resources available to help you succeed.

The third webinar in a series of eleven was held last Thursday, focusing on: “Picking Your Market/Trade Research”.

You can access the webinar here.

Find out where your products can excel overseas. Our detailed and timely trade statistics provide you all the data to find potential markets for your product. Learn about USATrade Online, which stores information on over 9,000 export commodities and 18,000 import commodities.

If you are considering expanding into the global marketplace, this series of webinars is just what you need to see. Each webinar is led by financial, regulatory, and trade experts and focuses on different topics – from picking your market, accessing trade data, learning about available financing options, just to name a few. Best of all, they are free!

You can’t afford to miss out.

Sign up for upcoming webinars at: http://go.usa.gov./T37A

Registration closes 24 hours before each webinar.

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