Trade
Between 1990 and 2000, the Gross Domestic Product of the United States grew from $5.8 to $9.8 trillion – an increase of nearly 70%. At the same time, exports grew from $393 billion to $780 billion. This period also saw an increase in employment in the U.S. from 109 million to 132 million non-farm jobs. In the high-tech sector alone, exports reached $180 billion in 2003, supporting an estimated 1.4 million jobs in the United States. 95% of the world’s customers and 70% of the world’s economic product lie outside the US.
Export-related jobs pay, on the average, 18% more than jobs unrelated to exports or trade. Between 1983 and 2002, higher-paying managerial and professional jobs in the US expanded from 23% to 31% of total employment.
Between 1993 and 2002, total private sector employment increased by almost 18 million jobs. Yet during this time, almost 310 million jobs were destroyed – while 328 million new jobs were created.
Over the last decade, according to the World Bank, per capita incomes grew 5.1% in developing countries with high trade and investment flows, while more isolated countries experienced income declines of 1.1%.