To be more competitive in the global economy, the United States must grow its exporter base. Even though exporting is a proven source of growth for both U.S. companies and the U.S. economy, the United States is just beginning to tap its export potential.
In his 2015 State of the Union Address, President Obama emphasized that “21st century businesses, including small businesses, need to sell more American products overseas. Today, our businesses export more than ever, and exporters tend to pay their workers higher wages.”
From 2009 to 2012, the number of U.S. firms exporting has increased by about 28,000, reaching a record high of nearly 305,000 exporting firms (source: US Census Bureau). Recently compiled data shows that in 2014, exporting accounted for 13.4% of the United States GDP (source: Trade.gov).
Currently, the U.S. economy hit a new annual record for exports, with $2.35 trillion in goods and services shipped, making last year the fifth consecutive year that the U.S. economy yielded record exports (source: US Census Bureau and Department of Commerce).
What is the Strategic Partnership Program?
To broaden and deepen the U.S. exporter base, the International Trade Administration’s Strategic Partnership Program is leveraging partnerships with trade associations, private corporations, chambers of commerce, and state and local governments. Through these innovative public-private partnerships, we are communicating to millions of U.S. businesses about global business opportunities through the International Trade Administration.
In doing so, the International Trade Administration Strategic Partnership Program creates triple win scenarios:
“We’ll create public-private partnerships to help firms break into new markets with the help of those who have been there – shipping and supply-chain companies, for example.”
Export-Import Bank Annual Conference
March 11, 2010.