Exports to China from individual U.S. congressional districts outpaced their exports to the rest of the world last year, according to the annual U.S. Congressional District Exports to China report recently released by the U.S.-China Business Council (USCBC).
Out of 435 districts, 333 had higher growth in exports to China in 2010 than they did to the rest of the world, and 404 districts increased exports to China that year, said the report.
"In 2010, exports to China rose 32 percent, faster than export growth to any of the United States' top-five export destinations," said USCBC Vice President Erin Ennis, adding, "Exports to China are a vital part of the U.S. economy," which "contributed to growth and jobs in almost all congressional districts."
The top U.S. exports to China in 2010 were computers and electronics, agricultural products, chemicals, transportation equipment and non electrical machinery, said the report.
China is currently the third largest U.S. export market, following Canada and Mexico, the two immediate neighbors with whom the United States has a free-trade agreement. The Chinese market is "growing faster than many of our other major destinations for American manufactured goods and agricultural products," said Ennis.
The report also examines U.S. exports to China over the last decade. From 2000 to 2010, U.S. exports to China increased from $16.2 billion to $91.9 billion, up 468 percent. By comparison, total U.S. exports to the rest of the world increased by 55 percent during this period.
According to the report, 47 U.S. states have registered at least triple-digit export growth to China since 2000, and 17 of those states have experienced quadruple-digit growth. The top five state exporters to China in 2010 were California, Washington, Texas, Louisiana and Oregon.
(Reporting from New York) |