Getting Started in Importing and Exporting : Getting Started in Importing and Exporting Session 1: Global Opportunities
in Import and Export 1 ©2010 Ray Bowman
How BIG is Global Trade? : In 2008, world trade grew 2% to $15.8 trillion
Germany is the biggest exporter, with $1.47 trillion in exports
$1.43 trillion for No. 2 China.
The U.S. was third at $1.3 trillion.
The U.S. was easily the world's biggest importer, at $2.2 trillion, almost twice as much as Germany, in second place with $1.2 trillion. 2 How BIG is Global Trade? ©2010 Ray Bowman
U.S. Importers and Exporters : 226,000 Exporters in the U.S.
Around half are manufacturers
There were over 800,000 importers in the United States in 2007
There were over 32 million imports to the U.S. last year 3 U.S. Importers and Exporters ©2010 Ray Bowman
Benefits of International Trade in the U.S. : Living standards in the United States are over $1 trillion higher per year than they would have been without decades of globalization
This translates into an average gain of at least $10,000 per U.S. household per year. 4 Benefits of International Trade in the U.S. ©2010 Ray Bowman
Reasons to Import : Lowering cost of raw materials
Finding better and more economical suppliers
Products you can’t find locally
Overcoming trade barriers
Logistics 5 Reasons to Import ©2010 Ray Bowman
Reasons to Export : To increase profitability
To utilize production capacity to the fullest
The small domestic market may not provide you with the opportunity for growth that your company needs
You may be manufacturing a specialized product and find there are not enough customers locally
You may be looking for the increased security your company can achieve by spreading its risks over a variety of markets
You may want to ensure that your product is kept up to date by exposure to competition in international markets 6 Reasons to Export ©2010 Ray Bowman
How Risky is Importing and Exporting?World Credit Risk : How Risky is Importing and Exporting?World Credit Risk ©2010 Ray Bowman
How much Can a Company Increase its Business With Trade? : 8 How much Can a Company Increase its Business With Trade? According to a UPS Survey:
Of SMEs that import, 88 percent say they expect the amount of their imports will either increase or stay the same over the next year (32 percent say it will increase and 56 percent say it will remain consistent).
-- Of SMEs that export, 95 percent say they expect the amount of their exports will either increase or stay the same over the next year (44 percent say it will increase and 51 percent say it will remain consistent). ©2010 Ray Bowman
What do you need to know?Key areas to International Trade : What do you need to know?Key areas to International Trade