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Okay, it was only a bit over one percent, but U.S. exports reached a record $2.3 trillion in 2013, the fourth consecutive annual increase. The bump up, while hardly gangbusters, comes in a year of anemic economic activity in Europe, slowing growth in China, and fading fortunes in other developing countries.
Does this mean it's curtains for year five of export growth? Not necessarily, for U.S. exporters have become both more numerous and more diversified in what they sell and to whom they sell it. Gone, perhaps, or significantly changed for the better, is the trading class that sells globally only when there's insufficient demand in the home market. Exporting appears to have arrived as an integral part of doing business—and of surviving and growing.
Also the U.S. is becoming an export platform for carmakers who've reversed outsourced here to take advantage of lower production costs, fueled in part by cheaper energy prices. Auto parts suppliers are then attracted to be near the factories, generating more jobs and, yes, more exports. A similar knock on effect is anticipated when Airbus starts building commercial airplanes in the U.S. in 2015 in the unlikely future export powerhouse of Alabama.
Believe what you want about the alleged negative effects of NAFTA and other trade agreements, but the U.S. had a trade surplus (we sold more to them than we bought from them) with Mexico of $4.2 billion. It was $3.4 billion with Canada. The U.S. exported goods worth a record $732 billion to the 20 Free Trade Agreement countries.
Sharpen the talking points
This should be a huge talking point in the Obama Administration's struggle with Congress over Fast Track Trade Authority, the ability of the president to negotiate trade agreements with Congress, getting an up or down vote without the ability to amend an agreement to death.
The talking points from the Department of Commerce about the 2013 trade data were as predictable as they were celebratory. One big point was the effect on jobs: exports create 5000 jobs for every billion dollars; and the National Export Initiative is successful, even if it doesn't quite reach the always questionable goal of doubling exports in five years.
Service exports continue to be a bright spot, with the U.S. selling twice as many services as it imports and growing 12 percent over 2012. Foreign tourists continued to snap up tickets on U.S. airlines and visit theme parks and other attractions.
Meanwhile, foreign students are drawn to U.S. universities and even to high priced prep schools, with many ancillary benefits for the students, the U.S., economy, and the students’ home country.
The jury is out on whether two mega trade deals involving Asia Pacific countries and the European Union will become law this year. If they do, we're betting on more positive trade data in coming years.
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| LTCD50-2LS bearing | 50 | 75 | 224 |
| LTCD40-2LS bearing | 40 | 62 | 176 |