International Trade Corner: January 2022
Manager of International Trade Anthony Cambas and other international trade assistance professionals with the Mississippi Small Business Development Center (MS-SBDC) network work with a wide variety of entrepreneurs and small and medium size businesses to help them identify and succeed in international markets.
Oft-stated reasons for looking beyond U.S. markets include: 95% of possible consumers are outside U.S. borders; growing purchasing power and expanding middle class in many parts of the world; and a reputation for quality and a strong demand for U.S. goods and services globally.
Exports play an important role for the Mississippi economy. For example, according to the latest figures that are made available by the U.S. International Trade Administration (ITA):
- Exports from Mississippi to the world in 2019 were valued at 11.9 billion dollars.
- The top five export markets for Mississippi in 2019 were: Canada ($2.7B); Mexico $1.4B; Panama ($1.0B); Netherlands ($0.5B); and Honduras ($0.5B).
- In 2019, Mississippi was the 30th-largest state exporter of goods in the United States.
- In 2016, 51,113 U.S. jobs were supported by goods exported from Mississippi.
- In 2018, 2,028 companies exported goods from Mississippi-76 percent were small and medium sized companies.
- In 2021, Mississippi SBDC clients Gross Annual Sales totaled $19 million dollars
Sources: ms.pdf (trade.gov) and Mississippi USMCA State Fact Sheet_0.pdf (trade.gov)
Through its strong offerings of specialized international trade counseling and educational services and work with our Federal and State International Trade assistance partners, the Mississippi Small Business Development Center is pleased to play an ever increasingly important role in economic growth and development across the entire state.