Trading Places: Inc.'s 2008 Export Guide

 

PERU

U.S. exports to Peru were up 41 percent last year, to $4.1 billion. Peru's large mining, fishing, and agricultural industries bought a lot of equipment, but look for Peru's economy to diversify as a brand-new free trade agreement with the U.S. is implemented. "Even though the Peruvian market is small by American standards, for a small American company, this could be a very interesting market," says Aldo Defillipi of the American Chamber of Commerce of Peru.

PAPUA NEW GUINEA

Long one of the world's basket-case economies, this South Pacific nation is enjoying a rare period of stability thanks to higher prices for its gold and copper. Sales of aircraft parts, drilling equipment, and cosmetics drove exports from the U.S. to PNG to $65.9 million in 2007.

POLAND

Since joining the European Union, in 2004, Poland has become a gateway to the fast-growing economies of the Eastern bloc and the Baltic states. American exports to Poland totaled $3.1 billion in 2007, a 59.3 percent increase from 2006. CellAntenna, a Coral Springs, Florida, company that makes equipment that amplifies cell phone signals, began exporting to Poland only two years ago and already does $750,000 in annual sales. CEO Howard Melamed says it makes sense to set up shop there because of its central location and its educated work force.

RUSSIA

Russia imported $7.4 billion worth of goods from the U.S. last year, an increase of 56.1 percent from 2006. The country's economy, fueled in large part by its oil and gas industry, is booming, as is demand for U.S.-made generators, building products, and telecommunications equipment. And Moscow, which now boasts more billionaires than any other city on the planet, has become one of the world's top markets for luxury goods. Exports of jewelry, antiques, and artwork from the U.S. to Russia increased fivefold last year, to $98 million.

Our Top Trading Partners

COUNTRY 2007 U.S. EXPORTS
1. Canada $248.4 billion
2. Mexico $136.5 billion
3. China $65.2 billion
4. Japan $62.7 billion
5. United Kingdom $50.3 billion
6. Germany $49.7 billion
7. South Korea $34.7 billion
8. Netherlands $33 billion
9. France $27.4 billion
10. Taiwan $26.4 billion

Source: Office of Trade and Industry Information, U.S. Department of Commerce

Top 10 Export Markets by Increase in Dollars in 2007

COUNTRY INCREASE IN $
1. Canada + $18.2 billion
2. China + $10 billion
3. Germany + $8.3 billion
4. India + $7.5 billion
5. Brazil + $5.4 billion
6. United Kingdom + $4.9 billion
7. Belgium + $3.9 billion
8. Taiwan + $3.3 billion
9. France + $3.2 billion
10. Japan + $3 billion

Source: Office of Trade and Industry Information, U.S. Department of Commerce

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    • Jason Del Rey

    Senior reporter Jason Del Rey covers technology, branding, and company culture for Inc. magazine and contributes to the From the Reporters daily blog. Before joining Inc., his work appeared in Newsday, The (Newark) Star-Ledger, and the Staten Island Advance, and on ESPN.com. He lives in New York City.


    Nitasha Tiku

    Reporter Nitasha Tiku covers technology, finance, green business, and social entrepreneurship for Inc. magazine and contributes to the staff’s daily links blog. Her work has appeared in New York magazine, The Villager, Chelsea Now, and on nymag.com. She lives in Brooklyn, New York.


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