Gala 2024
USCBC State Export Report
China Third Largest Export Market for American Goods
USCBC State Export Report: China Third Largest Export Market for American Goods
WASHINGTON, DC, June 22, 2017 – The US-China Business Council’s (USCBC) annual report on state exports shows that China continues to be an important destination for American goods and a significant contributor to US economic growth.
“Since 2005, USCBC data reveals that US exports to China have grown faster than exports to any other major US trading partner,” USCBC President John Frisbie said. “Despite the slowdown of a maturing economy, growth the past decade is unmistakable. There is no doubt that China is an important market for states across the country and that more must be done to strengthen US exports to China.”
“In 2016, US goods exports to China totaled $113 billion, holding steady with the previous year and still the third-largest US goods export market. Thirty states experienced at least triple-digit goods export growth to China since 2006, and four states saw growth of more than 500 percent over the same period.”
“Services exports to China play an essential role in the US economy and job growth,” Frisbie said. “Our report shows that last year US services exports to China grew more rapidly than all other major trading partners. Looking at growth from the past decade paints the same picture. From 2006 to 2015, US services exports to China increased more than 400 percent growth- dwarfing growth in services exports to the rest of the world, which increased 76 percent.”
The US-China Business Council (USCBC) is a private, nonpartisan, nonprofit organization of roughly 210 American companies that do business with China. For over four decades, USCBC has provided unmatched information, advisory, advocacy, and program services to its membership. Through its offices in Washington, DC; Beijing; and Shanghai, USCBC is uniquely positioned to serve its members’ interests in the United States and China.
###
