Focus on USA
In order to pay due attention to the rich and expanding global market, we will be providing a seasonal focus through which we will bring together information on a new export region every six weeks. Through an evolving focus on each individual export markets, we will provide a comprehensive and integrated archive of resources and information which will allow you to explore every angle of the export market that interests you.
Focus on USA
The US economy
The United States is the largest economic powerhouse in the world with a per capita GDP of $48,100 (July 2012). The GDP is roughly equivalent to 23.53 per cent of the world economy. The US GDP at purchasing power parity is the largest in the world, and was estimated at $15.29 trillion in 2011.
A predominately market-orientated economy both private individuals and businesses make most of the decisions, the federal and state governments buy goods and services primarily from the private marketplace.
The US is at the forefront of technological advances in medicine, aerospace, computers and military equipment. Of the world’s 500 largest firms, 133 are head quartered in the United States.
The US import market is worth $227.9bn annually – it is ranked as the world’s second largest importer. Their main import markets cover non-auto consumer goods, fuels, production machinery and equipment, non-fuel industrial suppliers, motor vehicles and parts, food and beverages.
The US is the world’s third largest exporter, its main export partners are Canada, Mexico, China, Japan and the European Union.
The USA and Wales
There are 210 companies in Wales that are US-headquartered or owned, employing approximately 30,000 people. These include Alcoa, Dow Corning, Ford, GE and Viseton.
Across the pond, there is a thriving Welsh culture in many areas of the US, reflected in the existence of almost three hundred registered St David Societies that celebrate Welsh culture and acting as a meeting place for the Welsh Diaspora.
The Los Angeles St David’s Day Festival celebrates the national day of Wales hosting an eisteddfod, concerts and a Celtic marketplace.
The annual North American Festival, now in its 81st year, is presented by the Welsh North American Association and celebrates Welsh culture and history with concerts, screening of Welsh films, singing competitions, tours and Welsh language seminars. The three-day festival attracts up to a 1,000 visitors each year.
This year, the festival fell over Labor Day weekend (30th August – 1st September) and was hosted in Scranton, Pennsylvania.