Facts About Trade
The United States is the world's largest economy and the largest exporter and importer of goods and services. Trade is critical to America's prosperity - fueling economic growth, supporting good jobs at home, raising living standards and helping Americans provide for their families with affordable goods and services.
The U.S. is the world's largest trading nation, with exports of goods and services of over $2.1 trillion in 2011.
•U.S. goods and services exports supported an estimated 9.7 million jobs in 2011.
•Every billion dollars of goods and services exports supported more than an estimated 5,000 jobs in 2011.
•U.S. manufacturing exports supported an estimated 2.4 million manufacturing jobs in 2009 (latest data available), 20 percent of all jobs in the manufacturing sector.
•U.S. agricultural exports supported 907 thousand jobs on and off the farm in 2010 (latest data available).
•Every billion dollars of U.S. agricultural exports in 2010 required 7,800 American jobs throughout the economy
•US jobs supported by goods exports pay 13-18 percent more than the US national average
•Exports at 13.8 percent of U.S. GDP in 2011 – its highest share ever.
Trade expansion benefits families and businesses by:
•Supporting more productive, higher paying jobs in our export sectors
•Expanding the variety of products for purchase by consumers and business
•Encouraging investment and more rapid economic growth
Trade keeps our economy open, dynamic, and competitive, and helps ensure that America continues to be the best place in the world to do business.