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In 2012, U.S. goods and services exports hit an all-time high of $2.2 trillion, with Michigan contributing $52 billion. Despite economic challenges, exports grew by $92.6 billion, comprising 13.9% of U.S. GDP. Key export markets included Canada, Mexico, and China, with increases noted across several countries like Brazil and India. This report highlights significant advancements in U.S. exports and identifies the major markets driving this growth.
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U.S. Export Highlights, 2012 EREN Meeting, February 21, 2013 J.D. Snyder Project DirectorMSU Center for Community and Economic Development
U.S. Export Highlights, 2012 • U.S. goods and services exports reached all-time high of $2.2 trillion in 2012 • Michigan goods exports totaled $52 billion in 2012 • $48.7 billion in manufactured goods • $3.3 billion in non-manufactured goods Source: U.S. Census Bureau (goods) and U.S. BEA (services)
U.S. Export Highlights, 2012 • Exports grew by $92.6 billion in 2012 (Despite significant economic headwinds in global markets, e.g. Europe in particular.) • Exports made up 13.9% of the U.S. GDP in 2012 • Tie for record set in 2011
Major U.S. Goods Export Markets • Canada • $292.4 billion (up 4.1%) • Mexico • $216.3 billion (up 9.1%) • China • $110.6 billion (up 6.4%) • Japan • $70 billion (up 6.6%)
Major U.S. Goods Export Markets • Record levels of U.S. Exports in 2012 to: • Brazil • India • Columbia • Saudi Arabia • Indonesia • South Africa • Vietnam
