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In 2002, U.S. companies exported $682 billion in goods and $292 billion in services for a total of $974 billion. Although slightly less than what was sold abroad in 2000, these exports supported more than 12 million higher paying U.S. jobs, strengthened companies and farms, and improved our tax base, while also sending export revenue to local communities through restaurants, retail stores, etc. In 1950, trade accounted for less than 5.5 percent of U.S. economic growth. Today, it has become an integral part of everyday life, accounting for more than 23 percent of economic growth in 2002 (25 percent in 2000). In fact, one in three acres of U.S. agricultural production is now exported. According to the U.S. Small Business Administration (SBA), small firms represent 99.7 percent of all employers, generate 60 to 80 percent of net new jobs annually and account for 97 percent of all U.S. exporters. As a result, their success in international markets is extremely important. |
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