Only the U.S.â€™s next-door neighbors of Mexico and Canada outrank China in terms of exports.
The US-China Business Council (USCBC) recently released its annual report on US State Exports to China. USCBC Vice President Erin Ennis says exports to China are vital to Americaâ€™s economic health and create good jobs for American workers.
«Between 2000 and 2011, total U.S. exports to China rose 54%, from $16.2 billion in 2000 to a record-breaking $103.9 billion in 2011. In addition, 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. companiesâ€™ bottom lines, even in tough economic times.»
Key points: U.S. states from across the country are benefitting from exports to China:
48 states have registered at least triple-digit export growth to China since 2000, far outpacing growth in their exports to the rest of the world. Twenty of those states have experienced quadruple-digit growth.
10 states have at least doubled their exports to China since 2009, while three of these statesâ€” South Carolina, South Dakota, and Vermontâ€”have more than tripled their exports to China in the past two years.
30 states now count China as one of their top three export markets and 25 states exported more than $1 billion to China in 2011, with export categories reflecting a broad range of products.