Why All Businesses Should be Involved in Trade

 

Ninety-six percent of the world’s consumers live outside of the United States and 80 percent of economic consumption takes place outside of the United States.

U.S. exports have created more than 12 million jobs that, on average, pay approximately 18 percent more than those not related to trade.

Exporting provides a wider market and greater profits, especially when the domestic market is saturated or dormant.

Ninety-six percent of all firms directly involved in exports are small or medium-sized businesses. Those that benefit from international trade also pay higher wages and are less likely to go out of business than their non-trade counterparts.

The United States is a good example of growth through trade. In 1960, trade was 9 percent of gross domestic product (GDP). Today, it accounts for approximately 30 percent of the GDP, a measure of all economic activities.

A Harvard study of 117 countries found that between 1970 and 1989, those with more open economies grew at an annual rate of 4.5 percent compared with those with relatively closed economies which grew at 0.7 percent.

For more information on how you can get involved in trade, visit .www.FloridaChamber.com