While lawmakers in Washington and Beijing negotiate agreements over commercial and trade issues such as cybersecurity and intellectual property rights, state and local governments and businesses have been embracing trade with China.Governors from California, Iowa, Virginia, Wisconsin, South Dakota, and Guam have already visited the country on trade missions in 2013, and more than a dozen states currently have offices in China to promote trade and investment. California Gov. Jerry Brown recently reopened the state’s trade office in Shanghai, which was closed in 2003 because of budget cuts, according to Bloomberg .
In 2012, the United States exported $108.6 billion worth of goods to China, making it the third-largest US export market, according to a recent report by the US-China Business Council . (USCBC is the publisher of the China Business Review.) China ranked as one of the top three export markets for 34 states, and 30 states exported more than $1 billion worth of goods to China.
And since 2009—when US exports to China dipped slightly because of the global economic slowdown—12 states have doubled their exports to China.
The top 10 states exported $59.9 billion worth of goods to China in 2012, accounting for more than half of all US exports to China. Here is a summary of the states that exported the most goods to China in 2012.
-10. South Carolina-
*South Carolina 2012 export value:* $3.3 billion
China is South Carolina’s third-largest export market. The state exported $1.8 billion worth of transportation equipment in 2012. Other top exports included chemicals, machinery, computers and electronics, and waste and scrap. Since 2001, South Carolina’s exports to China have grown by 1,001 percent, while exports to the rest of the world have grown by 93 percent.
-9. Minnesota-
*Minnesota 2012 export value:* $3.5 billion
China is Minnesota’s third-largest export market. In 2012, the state exported $1.5 billion worth of crops to China. The state’s top exports also included machinery, computers and electronics, and minerals and ores. Since 2003, Minnesota’s exports to China have grown by 418 percent, while exports to the rest of the world have grown by 75 percent.
-8. Ohio-
*Ohio 2012 export value:* $3.7 billion
China is Ohio’s third-largest export market. Crop production was the state’s largest export to China at $1.1 billion. Machinery, transportation equipment, chemicals, and computers and electronics were among the state’s top export to China. Since 2003, Ohio’s exports to China have grown by 344 percent, while exports to the rest of the world have grown by 57 percent.
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Reported by Business Insider 1 day ago.