Subscribe
Close
  • Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues

Renew

Survey: U.S. Exporters More Optimistic About Global Trade

05/09/2011
Smaller U.S. exporters are sending out increased optimistic vibes about global trade, according to a recent survey conducted by the London-based HSBC, one of the world's largest banking and financial services organizations. Their optimism reflects a high trade confidence not seen since the second half of 2009, notes the bank. The semi-annual HSBC Trade Confidence Index is the largest trade confidence survey globally of 6,390 exporters and importers across 21 markets, and gives a six-month view of sentiment and expectations. The current survey, with results released in May, was conducted from February to March 2011.

Specifically, HSBC states that 59 percent of nearly 300 American exporting companies surveyed reported a positive outlook regarding the worldwide economy-an increase of 13 percent over last year's polling. Of those same firms, only 19 percent forecasted the global economy to decline compared to 26 percent from the previous year. Of developed nations, the U.S. lead the pack in high levels of trade confidence, followed by Canada, Germany and Australia..

"We are seeing more positive sentiment among U.S. businesses about the prospects global trade offers their businesses," says William Nowicki, HSBC's.executive vice president and head of its Trade and Supply Chain North America division. "U.S. businesses increasingly recognize the opportunities that are driven by intra-regional and emerging market trading as trade continues to be viewed as a catalyst for future global economic advancement."

Other key U.S. findings: U.S. small to mid-size businesses continue to conduct the most trade with Canada, followed by Latin America and Greater China. However, they indicated "a strong interest" in trade with China, seen as the most promising region for trade growth in the next six months. HSBC reports that Southeast Asia has experienced a steady decline in trade with the U.S., dropping 29 percent over the past two years.

"Companies with roots extending around the world have hands-on experience and insight to help businesses better understand the trade growth opportunities on a global scale," points out Nowicki, "When it comes to navigating the field, U.S. businesses must look for partners who have the experience to help them in all regions in which they conduct or plan to conduct trade."

Follow Area Development

Share