U.S. Trade News: 2011 Success Highlights Provided by DOC/ BEA & ITA

Commerce’s BEA Keeps Its Finger on the Economy’s Pulse.  BEA’s Four Big Numbers to highlight in 2011 are:

• $15,180,900,000,000 (That’s $15 trillion). That’s the total size of the U.S. economy as of the 3rd quarter of 2011 on an annualized basis.
• $1,977,400,000,000 (That’s $1.9 trillion). That’s the value of corporate profits as of the 3rd quarter of 2011. Profits of corporations in the United States climbed to the highest level on record stretching back to 1947.
• 2.3 percent. That’s the real growth rate of consumer spending in the 3rd quarter of 2011. Consumer spending, the goods and services which we all buy on a daily basis, accounts for roughly 70 percent of all economic activity in the United States. The growth rate is the fastest seen so far this year. Consumer spending on services–like haircuts, sports tickets and going out to bars and restaurants–grew by nearly 3 percent, the strongest pace since 2006.
• 15.6 percent growth in business investment in equipment and software. This rate of investment is at its strongest pace in a year, and this is crucial as these investments are critical in supporting economic recovery and driving growth.

The International Trade Administration’s Four Big Numbers for 2011.  The ITA has compiled Four Big Numbers to highlight our biggest successes.

• 25 – The percentage of growth in exports since the launch of the National Export Initiative in January 2010. Just in 2011, we’ve seen six record-breaking months of exports (January, March, April, July, August and September). This is a trend that will continue as long as American companies are finding buyers and partners in markets such as Brazil, India, Korea, and Russia.
• 9.2 million – The number of jobs supported by U.S. exports in 2010. This represents seven percent of total non-farm employment in the United States. Additionally, exports contribute, on average, an additional 18 percent to workers’ earnings in the U.S. manufacturing sector.
• $148.1 billion – Our U.S. trade surplus in services through October 2011. In dollar terms, through the first ten months of 2011, growth of U.S. services exports are double the growth of our services imports. Through October, services exports are up 10.6 percent or $48.2 billion from the same period last year. In 2010, travel and tourism accounted for 26 percent of our services exports, and business, professional, and technical services combined for 24 percent.
• 15,555 – The number of foreign buyers who traveled to the United States to participate in 35 designated International Buyer Program (IBP) trade shows. The IBP recruits thousands of qualified foreign buyers, sales representatives, and business partners to attend U.S. trade shows each year, giving exhibitors excellent opportunities to expand business globally.