US exports to China cross $100 billion: report
2012-03-29 12:30:33
US exports to China crossed $100 billion in 2011, according to the annual report by the US-China Business Council (USBC).
“Exports to China are vital to America’s economic health and create good jobs for American workers,” USBC vice-president Erin Ennis said.
Total US exports to China have climbed by 542 percent over the last 11 years, from $16.2 billion in 2000 to $103.9 billion in 2011. This makes China the third biggest export market for the US after Canada and Mexico.
“U.S. exports to China recovered faster after the recession than exports to anywhere else in the world. Clearly, China is a market that is important to U.S. companies’ bottom lines, even in tough economic times,” Ennis added.
“This nearly US$88 billion increase in exports to China from 2000 to 2011 exceeded the increase to every other market for U.S. goods and farm products, with the exception of Canada. U.S. exports to Canada rose US$102 billion over the same period, while U.S. exports to Mexico rose US$86 billion,” Ennis said.
As many as 48 US states have registered at least triple-digit growth in exports to China since 2000. Also 20 of those states have seen quadruple-digit growth.
“American companies from every corner of the nation are exporting high-value computers, electronics, agricultural products, chemicals, transportation equipment, and machinery to an expanding marketplace in China,” Ennis said.