SAN FRANCISCO RANKS AS A TOP METROPOLITAN AREA FOR EXPORTS
San Francisco Area Goods Exports Increased 6.2 Percent to a Record High in 2014
WASHINGTON – U.S. Secretary of Commerce Penny Pritzker today released a report highlighting goods exports from U.S. metropolitan areas for 2014. The International Trade Administration’s 2014 Metropolitan Area Export Overview indicates that goods exports from the San Francisco-Oakland-Hayward, Calif., metropolitan area reached a record $26.9 billion, ranking it as the No. 10 metro area last year. San Francisco goods exports increased by $1.6 billion, or 6.2 percent, from 2013 to 2014, helping San Francisco to remain a top metropolitan area for exports in 2014.
“More and more U.S. businesses understand that 96 percent of their potential customers live outside the United States, and that selling their world-class goods in the global marketplace is critical to their bottom line,” said Pritzker. “New high-standard trade agreements are one way the Obama Administration is working to help open more markets for U.S. companies. We remain focused on helping to increase the number of companies that take advantage of these exporting opportunities, creating jobs and strengthening both the local San Francisco and national economy.”
U.S. metropolitan area goods exports exceeded $1.44 trillion in 2014, up $36 billion from 2013, and accounting for 89 percent of total U.S. goods exports last year. For the first time ever, 161 metropolitan areas tallied merchandise exports worth more than $1 billion in 2014.
“Many area businesses are finding that emerging markets around the world offer some of the best opportunities for making new sales, and are adjusting their export strategies accordingly,” said Stephan Crawford, Director of the U.S. Commercial Service in San Francisco. “Exporting helps firms become more competitive and profitable while enabling them to better weather changes in the international economy.”
San Francisco Metropolitan Area Export Highlights for 2014:
- One of 139 metro areas to achieve record goods export levels.
- San Francisco sent 39.3 percent of its goods exports to markets where the United States has trade agreements.
- Key merchandise export categories included computer and electronic products; petroleum and coal products; chemicals; machinery; and transportation equipment.
- China, Canada, Japan, Korea, and Mexico were leading destinations for San Francisco’s goods exports.
Increasing U.S. exports is a top priority for the Obama administration. The Commerce Department and the Administration are working to keep businesses competitive, the economy growing and global economic leadership intact by pushing for 21st century trade agreements such as the Trans-Pacific Partnership. Current and potential free trade agreement (FTA) partners account for a large share of exports for many metropolitan areas.
For more information on exporting, contact the U.S. Commercial Service Export Assistance Center in San Francisco at (415) 705-2301 or visit http://www.export.gov/california.
For more information on the impact of Metropolitan Statistical Areas on U.S. exports, including fact sheets for the top 50 exporting MSAs in 2014, visit http://www.trade.gov/mas/ian/metroreport/index.asp.