We have been hearing a lot of conflicting reports lately on the recovery of the American economy. But one thing is for sure, U.S. exports of goods have been increasing since the height of the recession in 2008 and 2009. Year-to-date trade data, which cover U.S. exports through September 2010, show American exports have increased 22% over the same time period in 2009. As of September of this year, international sales of American goods were valued at $929 billion, whereas September 2009 exports were valued at $762 billion. We still have not reached the level we were at in September 2008, when U.S. exports stood at $990 billion, but the trend is nonetheless positive and encouraging.

Virginia, which is currently the country’s 22^nd largest exporting state, is seeing similar trends in its trade profile. Exports via Virginia have grown almost 17% as of September of this year, and were valued at $12.68 billion. Virginia’s fastest growing export markets include Canada, Singapore, Brazil, Japan, Taiwan, and South Korea. On a national level, the United States’ fasting growing export markets include China, South Korea, Brazil, Singapore, Hong Kong, and Taiwan. Emerging markets, especially those in Asia, are quickly becoming the United States’ top international sales destinations.

Questions or comments?  Email Jeff Geiger, VEDP International Marketing Specialist, at JGeiger@YesVirginia.org.

economy · exports · international business · recovery · VEDP · Virginia