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Report Shows Exports to China Significant for Congressional Districts across U.S.

2017-09-07 12:56:45

The value of U.S. exports of goods and services to China is significant for congressional districts across the country, according to a report released Wednesday by the U.S.-China Business Council (USCBC).

 

"China was a top-three goods export market for 263 districts in 2016, and among the top five for 358 districts," the USCBC said in an annual report on U.S. congressional district exports.

 

Meanwhile, China was the top services export market in 2015, the most recent complete year of available data, for 93 congressional districts and a top five market for 399 districts.

 

There are 435 congressional districts in the United States.

 

The report showed that most U.S. congressional districts have seen significant growth in exports of goods or services to China over the past decade.

 

"432 out of 435 districts saw triple-digit growth in exports of services to China since 2006, and 190 districts saw similar growth in exports of goods," the report said.

 

While global trade is slowing, exports of U.S. goods and services to China continue to outpace exports to other major markets, the report said, noting that U.S. goods exports to China grew by 8 percent annually on average over the past 10 years.

 

Meanwhile, U.S. services exports to China grew more rapidly than to all the other major trading partners, averaging nearly 19 percent annually over the last decade.

 

In 2015, U.S. services exports to China totaled 47 billion dollars, making China the third-largest services export market for the United States.

 

In 2016, U.S. goods exports to China totaled 113 billion U.S. dollars, roughly on par with the previous year, according to the report. China is the third-largest export market for American goods in the year.

 

"Exports continue to play an essential role in the U.S. economy and job growth," the report said, adding exports to China have helped support a wide range of industries in the United States, including transportation equipment, agriculture, computers and electronics, chemicals, travel and education, business and professional services, and financial services.

 

The report also urged the United States to push forward negotiations with China on a high-standard bilateral investment treaty, which would facilitate American companies' sale of more products and services to China.