Benefits of 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 nearly $1.6 trillion in 2009. For the first half of 2010, it was $890 billion.
- U.S. goods and services exports supported an estimated 10.3 million jobs in 2008.
- U.S. goods exports supported an estimated 7.5 million jobs.
- U.S. services exports supported an estimated 2.8 million jobs.
- An estimated 3.7 million manufacturing jobs were supported by exports, 27 percent of all jobs in the manufacturing sector.
- U.S. agricultural exports supported nearly 1 million jobs on and off the farm.
- US jobs supported by goods exports pay 13-18 percent more than the US national average
- Exports exceeded 12 percent of U.S. GDP in the first half of 2010.
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.