You are here
Benefits of Trade
The United States is the world's largest economy and the largest exporter and importer of goods and services. Trade is critical to America's prosperity - fueling economic growth, supporting good jobs at home, raising living standards and helping Americans provide for their families with affordable goods and services.
The U.S. is the world's largest trading nation, with exports of goods and services of nearly $2.3 trillion in 2013.
• U.S. goods and services exports supported an estimated 11.3 million jobs in 2013.
• Every billion dollars of goods and services exports supported nearly an estimated 5,600 jobs in 2013. Every billion dollars of goods exports supported more than 5,400 jobs in 2013. Every billion dollars of services exports supported more than 5,900 jobs in 2013.
• An estimated 25 percent of all manufacturing jobs are supported by exports.
• U.S. agricultural exports supported an estimated 929 thousand jobs on and off the farm in 2012 (latest data available).
• Every billion dollars of U.S. agricultural exports in 2012 (latest data available) required 6,577 American jobs throughout the economy.
• US jobs supported by goods exports pay 13-18 percent more than the US national average.
• Exports of goods and services full year share of U.S. GDP at 13.45 percent in 2013.
Trade expansion benefits families and businesses by:
• Supporting more productive, higher paying jobs in our export sectors
• Expanding the variety of products for purchase by consumers and business
• Encouraging investment and more rapid economic growth
Trade keeps our economy open, dynamic, and competitive, and helps ensure that America continues to be the best place in the world to do business.