China Remains America's Third-largest Export Market

Despite China's slowing economy, U.S. exports to the PRC grew 6.5 percent last year to nearly $109 billion, according to a new report by the US-China Business Council (USCBC).

Bolstered by shipments of agricultural products, transportation equipment, electronics, chemicals and machinery, China remained America's third-largest export market in 2012, behind only Canada and Mexico, according to the report.

"U.S. exports to China remain a bright spot for many U.S. companies, particularly with European demand weakening," said USCBC President John Frisbie in a press release. "In 2012, 30 states exported more than $1 billion worth goods to China, with another 10 states exporting more than $500 million," he said.

However, the USCBC noted that over the last 12 years, the U.S. share of total imports into China fell to 7 percent from 10 percent. Last year, the U.S. was the fourth-largest source of Chinese imports, after the European Union, Japan, and South Korea.

"The U.S.-China trade relationship strengthens America's economy and creates well-paying jobs for many American workers across the country," Frisbie said. To help boost America's competitiveness in China, the USCBC recommended that policy makers in Washington seek to reclaim a 10 percent share of China's imports by 2015. The trade organization did not offer specific solutions for achieving this goal.

Between 2003 and 2012, total U.S. exports to China rose 294 percent, an increase of nearly $81 billion. Over the same period, the growth rate of U.S. exports to China was nearly three times that of U.S. exports to the entire world, which increased by 111 percent.

Forty-two states have achieved triple-digit export growth to China since 2003, and four states experienced quadruple-digit growth over the same period: Alabama, Nevada, South Carolina, and Vermont.

Since 2009, 12 states have more than doubled their exports to China. These states are: South Carolina, Alabama, Arkansas, Michigan, Alaska, West Virginia, Connecticut, Vermont, Nevada, Oklahoma, Wyoming, and Georgia.

1. California	$13.6 billion
2. Texas	$10.1 billion
3. Washington	$7.9 billion
4. Illinois	$6.1 billion
5. New York	$4.2 billion
6. Georgia	$3.8 billion
7. Michigan	$3.7 billion
8. Ohio	$3.7 billion
9. Minnesota	$3.5 billion
10. South Carolina	$3.3 billion
11. Iowa	$3.2 billion
12. Pennsylvania	$3.0 billion
13. North Carolina	$2.8 billion
14. Indiana	$2.6 billion
15. Alabama	$2.5 billion

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