International trade create Boston jobs
Posted on June 25, 2013
International trade is creating thousands of work opportunities in Massachusetts and many Boston jobs.
According to the Business Roundtable, it supported an estimated 928,000 jobs in Massachusetts and generated $25.3 billion in goods exports in 2012.
According to analysis from the Roundtable:
Massachusetts’ trade-related employment grew six times faster than total employment from 2004 to 2011.
Massachusetts’ goods exports have grown 80 percent faster than state GDP since 2002.
Ninety-one percent of Massachusetts exporters are small- and medium-sized companies with fewer than 500 workers.
U.S. trade with free trade agreement (FTA) partner countries has led to export growth, and since 2002, Massachusetts’ goods exports to FTA partners have increased by 52 percent. In 2012, $7.6 billion of Massachusetts’ goods exports, or 30 percent, went to FTA partners.
“Trade is a powerful engine for economic growth, supporting American jobs and increasing U.S. exports to countries around the world,” said Business Roundtable President John Engler. “With 95 percent of the world’s population outside of the United States, and more than one in five American jobs supported by trade, U.S. international trade and investment agreements have a major role to play in maximizing economic growth in Massachusetts and all 50 states.”
The Roundtable and other business associations recently launched the Trade Benefits America Coalition.