Riding 2014's Breakthrough Momentum into 2015
Stefan M. Selig is the
Under Secretary of Commerce for International Trade
President Obama stated, 2014 was a breakthrough year. The U.S. economy produced
nearly 3 million new jobs, extending the longest streak of job growth in our
But 2014 was also a breakthrough
year for U.S. exports.
We shipped out $2.35 trillion in goods and services. This was our fifth
consecutive year of record exports and we broke export records with Canada,
Mexico, China, and 49 other countries.
of a breakthrough as this was, the key to sustaining and building on this
momentum is identifying where the new pockets of export growth will be.
why ITA is intensifying its efforts to identify these new areas for U.S. exporters,
notably for small and medium sized firms who may not have the resources to acquire
the same commercial intelligence larger firms can.
our Discover Global Markets event last month in Santa Clara, our Commercial
Service officers from Saudi Arabia highlighted export opportunities
in the Middle East.
U.S. exports of goods and services can
reach almost a quarter of a billion dollars by 2018 according to the U.S. Arab
Chamber of Commerce.
month participated in a networking event that focused on U.S. exporters doing more business in sub-Saharan
Africa. With consumer
spending expected to reach $1.4 trillion by 2020, it is clear that the region
is open for business. That is why we are excited to be holding our Trade Winds-Africa event. Trade Winds-Africa will offer
U.S. companies the opportunity to explore eight markets in sub-Saharan Africa
and will be the largest government-led trade mission to Africa in U.S. history.
focused as we are when it comes to connecting U.S. exporters to new markets, we
are that much focused on connecting new foreign investors to our economy at
home. This includes our upcoming SelectUSA summit, which has already secured
2,100 registrants from 80 international markets, as well as nearly every U.S.
state. One important difference in this year's Summit is The
This pre-summit orientation will train companies, state and local governments,
and economic development organizations on how to identify new investment
opportunities, as well as how to navigate around potential challenges.
nearly 30 years in the private sector taught me anything, it is that the key to
excellent client service is to be a true partner in achieving your client's
goals. The excellent client service our agency provides is one of the reasons
for why I am so confident that 2015 will have the same if not more of the
breakthrough strength 2014 had.
for everything you do to support U.S. exports and business investment.
New data shows 26 states achieved records in goods exports in 2014, while 8 additional states experienced growth in merchandise exports over 2013 levels.