Linkage: Exports a vital part of economic growth

Recently the U.S. Census Bureau merged the Profile of U.S. Exporting Companies and the Survey of Business Owners from 2007. (Unfortunately that is the most recent date of the two surveys.) And the information gleaned from it for anyone looking for a Local-Global connection is interesting.

The survey focused on ‘classifiable” companies — those identified by race, gender or veteran status. Of the companies reviewed, employment was highest among exporting firms.

  • The average number of employees for minority-owned exporting employer firms was 21; the comparable number for minority-owned nonexporting employer firms was 7.
  • The average number of employees for Hispanic-owned exporting employer firms was 19; the comparable number for Hispanic-owned nonexporting employer firms was 7.
  • The average number of employees for women-owned exporting employer firms was 42; the comparable number for women-owned nonexporting employer firms was 8.
  • The average number of employees at veteran-owned exporting employer firms was 68; the comparable number for veteran nonexporting employer firms was 10

Average receipt reports also showed that exporting companies were bigger money makers than those focused on just the domestic market.

  • Minority-owned exporting firms: $7.4 million; nonexporting firms: $141,776.
  • Hispanic-owned exporting firms: $7.2 million; nonexporting firms: $124,418.
  • Women-owned exporting firms: $14.5 million; nonexporting firms: $117,036.
  • Veteran-owned exporting firms: $19.5 million, nonexporting firms: $371,143. 

And, according to the report, the number of exporting companies make up a smaller percentage of each group. (See Figure 2 on the right.)

So, a smaller percentage of each group does exporting. But the exporters bring in more money and hire more people.

Hmmmm.

Sounds like exports are an important part of any effort to growing the economy. And many small and medium-sized businesses are part of that growth.

Wouldn’t it be nice to see more stories connecting domestic (LOCAL) growth with the exports (GLOBAL) handled by these LOCAL companies. Maybe even a few feature stories about how and why the businesses started and why the owners decided to go with exports instead of exclusively working the domestic market.

Stories that make these connections will help the American reader/viewer better understand trade issues and why non-military international affairs are important to local success.

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3 Comments

Filed under Connections, International News Coverage, Story Ideas, Trade

3 responses to “Linkage: Exports a vital part of economic growth

  1. A

    That is because much information in the US is censored since the beginning of our depression in 2008. Try finding the suicide rate…it is impossible.

  2. Pingback: Knowing the rest of the world is not the same as giving up on your own country | Journalism, Journalists and the World

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