Texas Once Again Leads the U.S. in Exports
One of the important factors that is crucial to Texas exports is trade agreements. These agreements level the playing field for Texas exporters by reducing or outright eliminating foreign tariffs and non-tariff trade barriers. A number of important trade agreements are currently being negotiated by the U.S. Trade Representative's Office including the Trans-Pacific Partnership (TPP), the Transatlantic Trade and Investment Partnership (TTIP), and the Trade in Services Agreement (TSA), among others. There is also a critical piece of legislation pending before Congress that will provide the executive branch with Trade Promotion Authority (TPA) to more efficiently negotiate trade agreements. TPA is something that all recent administrations have had and is a bi-partisan tool that has been used by various Presidents for over 50 years to negotiate trade agreements. TPA has not been in effect for the last seven years and its renewal is vital for ensuring that new trade agreements will be enacted that will benefit Texas exporters.
Additionally, it is also important for Texas exporters that the pending re-authorization for the U.S. Export -Import Bank be renewed by Congress. Texas exporters, particularly SMEs, utilize the unique services that are offered by the Ex-Im Bank—and which are not commercially available—to maintain their competitiveness against foreign competition. A failure by Congress to re-authorize the Ex-Im Bank would have serious adverse effects for Texas exporters by greatly diminishing their competitiveness at a time when the export sector is leading the U.S. in private sector job creation and economic growth.
For questions and answers on TPA, TPP and TTIP, and the Ex-Im Bank, go to TPA Q&A, TPP Q&A, TTIP Q&A, and Ex-Im Bank Q&A, respectively. For more information on these and other trade agreements and issues, go to districtexportcouncil.org/materials.
North Texas DEC Legislative Affairs Chair and National DEC Chair Emeritus
FOR IMMEDIATE RELEASE Contact: Daniel Swart (817) 310-3744
February 11, 2014 Curt Cultice (202) 482-2253
EXPORT GROWTH BENEFITS TEXAS COMPANIES
Texas merchandise exports set new record in 2013
WASHINGTON – The International Trade Administration (ITA) today announced that new data show Texas merchandise exports increased 5.7 percent in 2013 compared to 2012, growing from $264.7 billion to $279.7 billion. This was a record high export level for the state. Texas’s strong performance in 2013 helped the United States reach an all-time record for exports of U.S. goods and services, reaching $2.3 trillion in 2013 and supporting nearly 10 million American jobs.
“This data shows that more and more Texas companies are growing their businesses and strengthening our economy by selling their top-quality goods to consumers around the globe,” said U.S. Secretary of Commerce Penny Pritzker. “Exports continue to be an important driver for both the U.S. and Texas economies. This data confirms that President Obama’s call for increasing our exports and ensuring that trade and investment become part of our economy’s DNA is the right course for Texas.”
Texas’ merchandise export sales in 2013 outpaced the 2012 figures in many top destinations, including: Nigeria (+50 percent); Colombia (+29 percent); Taiwan (+23 percent); the United Arab Emirates (+23 percent); and Argentina (+19 percent). Key merchandise export categories include: petroleum products; computer and electronic products; chemicals; machinery manufactures; and transportation equipment.
“Texas exporters continue to ramp up their sales by selling to markets around the world with quality, made-in-the-USA products,” said Daniel Swart, Director of the U.S. Commercial Service in North Texas. “By selling internationally, many of these exporters are better able to weather changes in the economy while building their global competitiveness. We’d like to assist with your exporting efforts.”
With more than 100 offices across the United States and in American Embassies and Consulates in more than 70 countries, ITA’s U.S. Commercial Service connects U.S. companies with international buyers. In 2013, ITA helped U.S. businesses facilitate nearly 15,000 export successes. Companies interested in exporting should contact their local office in North Texas at (817) 310-3744 or visit www.export.gov/Texas.
For more information about the impact of exports on individual states, including fact sheets for all 50 states, please visit the Trade Policy & Analysis web page at www.trade.gov/mas/ian.