Posted at 2:48 PM
Last year, the United States exported $2.34 trillion worth of goods and services—an all-time record. Exports from the United States in 2014 equaled the entire gross domestic product of Brazil and exceeded all commercial output in India, Italy, or Mexico. What is more, exports are an increasingly important aspect of the U.S. economy. As the significance of exporting grows, the Obama administration and the Department of Commerce is committed to providing the data and analytics U.S. companies need to compete effectively in foreign markets.
To meet this objective, the International Trade Administration (ITA) is leading the NEI Next Initiative, a customer service-driven strategy that is delivering improved information to American businesses to help them win when competing abroad. Of course, winning in foreign markets is often a case of investing resources as strategically as possible – i.e., picking which market to introduce a new product; or choosing whether to expand in one market or focus on opportunities elsewhere. That is why we are proud to release a new product line today: ITA’s Top Markets Series.
The Top Markets Series is a collection of 19 sector-specific reports that are designed to help U.S. exporters compare markets across borders, using market intelligence and data to inform decision-making. From aircraft parts to civil nuclear energy, green buildings and cloud computing, to media and entertainment, each Top Markets Report includes commentary on opportunities, trends, and challenges facing U.S. exporters in the largest potential markets. The reports combine the unique expertise of ITA’s sector leads in Industry & Analysis with economic data and the views of our staff stationed around the world. Exporters can access full reports or view individual sections; collectively, the series includes more than 200 pieces of individually-viewable market intelligence.
In addition to U.S. businesses, Top Markets Reports are a tool that federal agencies are using to prioritize export promotion activities and trade policy initiatives. Our efforts will make all of us more efficient, as we target limited resources at those markets and sectors most likely to benefit from U.S. government support. For example, within ITA, we are working to coordinate our trade missions, trade fairs, and International Buyers Program recruitment with the strategic opportunities identified in the Top Markets series.
We anticipate updating ITA’s Top Markets rankings on an ongoing basis and will release new reports annually. Over the next several months, we look forward to hearing feedback from exporters and will incorporate suggestions into next year’s versions of the Top Markets Reports.
To download a full report or view individual case studies within each report, visithttp://www.trade.gov/topmarkets.