In the last decade, Brazil has been one of the fastest growing emerging markets. It is currently the largest economy in Latin America, and seventh largest in the world. This week’s trade spotlight highlights the importance of U.S.-Brazil trade relations and how the relationship benefits American farmers, ranchers, entrepreneurs, and workers.
As one of the fastest growing emerging markets, and a country that the International Monetary Fund projects is poised for continued growth, Brazil is an important trading partner for the United States. In 2010, U.S. goods and services trade with Brazil was $81 billion, with exports accounting for $52 billion and imports accounting for $29 billion. This resulted in a goods and services trade surplus of nearly $23 billion for 2010, a 61 percent increase from 2009.
Brazil is the 10th largest goods trading partner with the U.S., with goods trade surplus of more than $11 billion in 2010. Trade in services between the U.S. and Brazil totaled more than $21 billion in 2010. Additionally, the services surplus for the United States was more than $11 billion.
In 2010, Brazil was the United States’ 8th largest goods export market. U.S. goods exports to Brazil were more than $35 billion, a near 36 percent increase from 2009. Overall, U.S. exports to Brazil accounted for nearly 3 percent of total U.S. exports in 2010. The top U.S. exports to Brazil were machinery, aircraft, and electric machinery. Additionally, the U.S. exported $578 million worth of agricultural products to Brazil in 2010. The leading categories of agricultural exports were wheat, cotton, dairy products and sugars and sweeteners.
“The U.S.-Mexico border is open for business.” That is the refrain I and others who work on border issues tirelessly deliver wherever we can. But with the media’s relentless focus on immigration, drug-trafficking, and cartel violence, we know that we must provide and promote objective evidence to support our message. A report recently released by Arizona State University’s North American Center for Transborder Studies (NACTS) and NDN’s New Policy Institute (NPI), entitled “Realizing the Value of our Cross Border Trade with Mexico” does both.
The report only confirms the overwhelming evidence that the Department of Commerce’s International Trade Administration (ITA) has assembled conclusively establishing that Mexico and, by extension the U.S.-Mexico border, is vital to the long-term health of the U.S. economy. However, all of that evidence is for naught if Americans are not made aware of it.
That is why I was pleased to join the effort to promote and further publicize the NACTS /NPI report at an event hosted by the New Democrat Network (NDN) last week, where I was joined by one of the authors of the report, NACTS Director D. Rick Van Schoik. I am convinced that it is through this kind of collaboration—between the public and private sectors—that we will change the national conversation about the border.
Exporting matters! It matters to firms that profit from exporting and it also matters to the national economy as a whole. Federal, state and local governments devote billions of dollars each year to encourage exporting among firms of all sizes and in all sectors. here's how RTM, hosted by USTDA can help you grow your business and strengthen the American economy.
Reverse trade missions provide unique opportunities to foster business relationships and build long-lasting partnerships between U.S. businesses and our overseas partners. During the past year, USTDA hosted more than 50 reverse trade missions to introduce U.S. businesses to more foreign delegates and business opportunities than ever before.
A key part of USTDA’s support of the National Export Initiative, these carefully planned missions enable foreign delegates to visit the U.S. to observe first-hand the design, manufacture, and demonstration of goods and services that can help the delegates achieve their development goals. The reverse trade missions are planned to target current and near-term business opportunities, creating immediate results and export successes for U.S. businesses.
This past year, USTDA introduced more than 600 foreign delegates to more than 1,000 U.S. company representatives across the United States. These foreign delegates included ministers, mayors, and senior governmental and private sector officials from emerging markets.
The White House announced $2 billion in public and private resources to help entrepreneurs start and grow their businesses. In the spirit of open and participatory government, we also announced the Startup America Policy Challenge. We're calling on entrepreneurs and the broader public to share their ideas on how to accelerate entrepreneurial innovation in the areas of healthcare, energy and education. Aneesh Chopra, US Chief Technology Officer, kicked off the challenge in a post on Quora and asked a few questions to get the dialogue going.
Read Aneesh's post below and participate in the challenge by sharing your ideas on Quora:
Startup America is President Obama’s initiative to celebrate, promote, and inspire high-growth entrepreneurship throughout the nation. We’re working to expand access to private sector capital, accelerate the time it takes to get technologies from lab-to-market, and promote mentorship and entrepreneurship education.
With so many different companies out there today, having a solid marketing strategy is 100% essential. Without an effective small business marketing strategy, your company will not be capable of bringing in new business. Why? No one will know your business exists! If you have not yet created a marketing strategy, take the step to create a marketing plan today!
What will a marketing plan do for your business?
Build awareness of your business.This will help more people know about your company and the services it provides.