One of the opportunities that are increasing the US economy today is in the export industry. It builds so many good chances for both the economy and for those who works in this area. Today, a lot of businessmen are into exports to provide the needs and wants of a larger crowd which means profit.
As more global companies are also growing in trades internationally, exports in the US businesses need some more push to compete with the increasing import rates to escalate the country’s economy. This year, the overall trade deficit in the US is affecting both big and small business and will gradually drag down the US economy.
Exporting products will help out increase the economy once more. Another big thing that export industry can positively affect the US economy is through improving the unemployment rate in the US. As of July 2013, the unemployment rate is 7.5 percent compared to the 7.9 percent in February this year.
Many jobless individuals are now considering a job in an export industry with which they can profit even in their own small business. This new and exciting opportunity in the exporting business has helped many people realize that they can do so much more. It’s a big investment and profit for the US economy as well as your own benefit to indulge in this kind of business. Today, the export statistics in the US is gradually increasing every year with an average of 103 Million Dollars from the year 1992 up to the present.
The country that US products have exported the most in a year is Canada, which imports most of its automotive and automotive parts from the US. Second is Mexico followed by China, Japan, and Singapore which is the first time on the list of top 10 countries that imports products in the US. These countries are huge importers of electronic gadgets though they also have their own local brands. Exports can then increase manufacturing of products for exports following the demand of these global needs.
The most common traded or exported products are the electronic and computer devices, such as computers, laptops, cell phones, and TVs, which comprises of about 34 percent of the total exported goods. Medical and sporting equipments are also being exported globally. Automotive parts, vehicles and engines are also part of the important products for export. Some unusual and unique products are also exported, like the renewable energy, water treatment devices, TV antennas, customized coffee mugs or shirts, and many more.
Recent reports show that big countries like Canada and even small countries like Singapore buy imported goods from the US is that the quality of the product is best and can be trusted. Prices are reasonable and US trade markets are prompt and reliable. As many countries trust in the US products, it is the best chance that exporters have in hand to make great profits for their businesses and can therefore boost the US economy as well. You, too, can definitely take part in this trend of the export industry to make small businesses and the economy grow both in the market and profit. With a great online competition, it’s important to sell unique items but useful that will certainly catch people’s attention.