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Strategic Objective
Increase U.S. exports by broadening and deepening the U.S. exporter base (ITA, BIS, ESA, MBDA, EDA)
Strategic Objective
Overview
Recognizing the important role of exports to the U.S. economy, President Obama announced the National Export Initiative in 2010. U.S. exports have increased steadily since the launch of this initiative, reaching a record $2.2 trillion in 2012. However, the nation still remains below its full export potential. U.S. firms under-export compared to competitor industrialized nations. Of the U.S. companies that do export merchandise, 58 percent export to only one market. The International Monetary Fund forecasts that approximately 80 percent of world economic growth over the next five years (2014 – 2018) will take place outside of the United States. Yet many small and medium-sized companies in the US, the engines of economic growth and innovation, rarely export.
The Department, through its programs, expertise, and global presence, is uniquely positioned to help U.S. companies understand the importance of exporting. Department research and analyses can identify the best export opportunities for U.S. goods and services. With offices located in more than 70 countries, 48 U.S. states, Puerto Rico and Washington D.C., Department experts help U.S. companies access valuable market information, promote their products and services in target foreign markets, meet qualified international buyers and distributors, and overcome challenges and barriers when they do business overseas. Moreover, the Secretary of Commerce, as chair of the Trade Promotion Coordinating Committee, will lead the national export strategy, set priorities, and drive federal efforts to increase exports.
Read Less...Progress Update
During FY 2014, the Department of Commerce (DOC) made good progress in broadening and deepening the U.S. exporter base through strong execution toward several key strategies supporting this objective: educating U.S. companies and communities on the benefits of exporting; provision of tailored export assistance to U.S. companies and communities to connect U.S. companies to foreign markets and qualified buyers and partners; utilizing public-private partnerships to increase U.S. exports worldwide; and reducing the transaction costs and complexities of exporting.
In 2013, U.S. exports of goods and services supported 11.3 million jobs; the United States is on-track for a fifth straight record-breaking year of exports for the 2014 calendar year.
FY 2014 Accomplishments include:
- The Department announced a successor effort to the National Export Initiative, NEI/NEXT, which focuses on helping more American companies – especially small and medium-sized businesses – begin exporting and reach more foreign markets.
- ITA’s Global Markets unit also expanded its ability to serve U.S. businesses overseas and support the President’s Trade Africa, Power Africa and Asia Rebalance initiatives by opening new offices in markets in Africa and Asia: Angola, Ethiopia, Mozambique, Tanzania, and Burma, plus Wuhan, China.
- In FY 2014, 73 percent of clients from the International Trade Administration’s (ITA) Global Markets unit reported that the Department helped them achieve their export objectives, exceeding the annual target of 69 percent. 83 percent of Global Markets clients said they are highly likely to recommend Global Markets assistance.
- The Bureau of Industry and Security (BIS) published and implemented several regulations to control the hundreds of thousands of defense articles the President determined in 2014 no longer warranted control under the State Department's International Traffic in Arms Regulations. BIS has also set the stage to publish more such regulations in 2015. The regulations accomplish the national security objectives of the Export Control Reform effort in that they help increase interoperability with our close allies, help the defense industrial base by reducing incentives to avoid US-origin content, and allow the Government to focus its resources on transactions and destinations of more concern. The regulations and BIS's implementation of them have been well received by U.S. industry, the allies, and the national security community.
- ITA reached over 2,000 companies reached through Branded Events (ex. Discover Global Markets and Trade Winds) and 92 percent of survey respondents from these events plan to use our services to build their businesses.
- BusinessUSA initiated development of MyUSA feature, which will provide personalized updates to entrepreneurs and businesses on exporting.
- BusinessUSA initiated a contact center pilot project with ITA to provide Tier 1 services for callers.
- The Economic Development Administration (EDA) invested approximately $59M in 66 economic development grants (including infrastructure, technical assistance, and planning) to help communities and regions build the capacity to support export-related activities.
- In February 2014, the President charged agencies, including Commerce, with helping connect more rural businesses to global opportunities through the Made in Rural America export and investment initiative. Federal agencies engaged 1,000+ rural business owners and other key stakeholders at Made in Rural America Regional Export Forums in eight states where the Administration and partners convened the full suite of export-related resources for rural businesses and communities.
- ITA certified 107 overseas trade fairs certified in 28 countries hosting 3,600 U.S. exhibitors resulting in 1710 increase-to- market successes and 690 new-to-market successes.
- ITA brought over 13,000 buyers to 28 U.S. trade events. Led and certified 47 trade missions in 2014 with approximately 640 companies participating.
- $1.26 billion in exports were generated from public-private partnerships under ITA’s Market Development Cooperator Program (MDCP) for Q1-3.
- ITA’s Strategic Partnership Program completed the FY15 Memoranda of Agreement renewal process and currently has 100 public-private partnerships with States, local chambers of commerce, and finance institutions, e-commerce and shipping and logistics companies.
- The President signed the Executive Order on the International Trade Data System to improve the flow of Government required information on exports and imports in order to shorten the time it takes to get goods through U.S. ports.
Next Steps in FY 2015:
- ITA will continue training for client-facing staff to improve client satisfaction and meeting their objectives.
- ITA will push trade-related data and information (through Application Programming Interfaces) to 5 more strategic partners in order to utilize public-private partnerships to increase U.S. exports.
- FY 2015 Q2 – ITA will hold Discover Global Markets event on Sustainable Solutions in order to connect U.S. companies to international market prospects. The conference will address the link between advanced research and innovation, global business and planetary sustainability.
- Complete Customer Service Survey of ITA clients in order to provide more customer-oriented programs and services.
- ITA will publish 19 Top Markets studies in order to provide more industry-specific information.
- ITA will develop and disseminate toolkits for economic development officials on promoting exports and investment in regions in order to educate communities on the benefits of exporting.
- FY 2015 Q4 – ITA will host Trade Winds event in South Africa to connect U.S. companies to foreign markets and qualified buyers.
- NIST will hold ExporTech or similar export training programs in all 50 states in order to educate more U.S. manufacturing companies and their communities on the benefits of exporting.
- Award and administer EDA and MDCP grants.
- BusinessUSA will launch MyUSA feature in order to automate the delivery of personalized information to the customer.
Expand All
Strategic Goals
Strategic Goal:
Expand the U.S. economy through increased exports and inward foreign investment that lead to more and better American jobs
Agency Priority Goals
FY 14-15 Agency Priority Goal:
Companies assisted by Global Markets that achieve export objectives
