A Background on US Economy
The United States is located in the middle of the North American continent. It plays a vital role in world trade and is said to be very influential in multinational organizations like the World Bank and the United Nations. Back then, it has been an important opponent of the USSR which is the most powerful Communist country. In 1990, though, the competition was eliminated thus permitting greater cooperation between two of the world's strongest nations. Unluckily though for USSR, US proved to be tougher because the former was dissolved in 1991. This led to the division of the nation with different countries now comprising the former Soviet. It was in 1989 when the US reached a Gross National Product (GNP) amounting to $5.2 trillion. This was considered as the highest in the world. The per-capita income also raged reaching as high as $21,082 for the said year and ranked among the world's highest in the category. Two and a half percent (2.5%) of the GNP was divided among agriculture, fishing and forestry. The country's leading crops include corn, soybeans, wheat, tobacco, hay, cotton, rice, sorghum and potatoes. It is considered as the world's largest producer of meat, corn and soybeans and ranks second for wheat and tobacco production and hog and cattle-raising. Twenty percent (20%) of the GNP goes to its different industries. Leading the list are transportation equipment, chemicals, processed foods, printing and publishing, fabricated metal products, industrial machinery and equipment, instruments and related products, paper and allied products, primary metals and electrical and electronic equipment. Its heavy industry concentrates on primary metals such as steel, copper and aluminum which in facts lead the world's list in terms of export and production. On the mining side, mineral fuels such as coal, petroleum and natural gas are considered important components. Other principal minerals of the country are cement, stone, copper, iron, sand and gravel, ore, lime, salt, clay, phosphates, uranium, zinc, sulfur, molybdenum, silver, gold and lead. Tourism is also a significant industry in the nation. To date, the US remains to be one of the most-favored nations of other countries who participate in world trade. Although, it has stronger export partners as well as suppliers, the country sees to it that it does not favor any nation it deals with. It was always seen as a supporter for democracy, independence and security. It also delivers US funds for nations which seek economic transformation. Technical assistance is also extended by the nation to its comrades in international business. The Major Trade Partners of US The US Census Bureau always keeps a track record of the major trade partners of US all over the world. The statistics gathered by the agency provides up-to-date information. As a matter of fact, the latest census as of November 2008 provided the following as major trade partners of the US:
The major exports of US to other nations are comprised of agricultural products such as soybeans, fruits and corn; industrial supplies including organic chemicals; capital goods such as transistors, aircraft, computers, telecommunications equipment and motor vehicle parts; and consumer goods such as automobiles and medicines. For the period ending November 2008, US's agricultural exports were led by grains and feeds with a total of $34.97 billion. Other goods found along this line were: soybeans at $13.80 billion; corn at $12.76 billion; wheat at $10.87 billion; read meats and products at $8.16 billion; animal feeds and oil meal at $7.69 billion; Vegetables and products at $4.68 billion; cotton and linters at $4.58 billion; poultry meats and products at $4.56 billion; and fruits and products at $4.48 billion. As a whole, the following US export data are available for the year 2007:
Foreign companies have their own share of fate when it comes to dealing with US. Barriers to trade are also evident at some points. Each country's laws and standards would oftentimes lead to disputes with the US. The US had already patterned its provisions with the ones set by international standards while some countries in the world have their own regulations to follow. The most common trade barriers the US faces when dealing with foreign companies are:
Obviously, the key to opening trade opportunities with the US requires a lot of hard work especially when it comes to the trade barriers. It is always vital to work on rules and regulations first before a trading partner gets the chance to do good business with US exporters. It is better to think about the many products that a US exporter may transfer to another ground rather than seeking greedy measures to increase economic stature. Adhering to international standards is as good as getting a slot in US exports. There is a wide range of trade opportunities available for countries who want to engage and do business with US exporters. For countries which still lag behind when it comes to exports coming from US, now is the time to persevere. Look into a wide array of products exported by the US. List down the important aspects of trade to know which section needs to be boosted. Take a hint from US Commercial Service which provides ways on how goods and services are marketed worldwide. Export.gov on the other hand, is an outlet for organizing export-related programs and market research information. The list of trade opportunities is clearly differentiated via http://www.commerce.gov/TradeOpportunities/index.htm/. U.S. Exporters & American Foreign Trade References
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Note: Trade statistics, industry links, economic projections and global business resources on this page have been compiled from hundreds of trade related websites, government guides and resources on the Internet. We provide this valuable information for industrial suppliers, manufacturers, exporters and importers seeking to enter or expland business opportunities in the United States.
Market Research
Primary Trading Partners
Major Goods Exported
Major Goods Imported
Industrial Outlook
The U.S. is the leading industrial power in the world, highly diversified and technologically advanced. Major industries
include petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber,
and mining.
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