CHICAGO RANKS AS A TOP METROPOLITAN AREA FOR EXPORTS

Chicago Area Goods Exports Increased 5.4 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 Chicago- Naperville-Elgin, Ill.-Ind.-Wisc., metropolitan area reached a record $47.3 billion, ranking it as the No. 6 metro area last year. Chicago goods exports increased by $2.4 billion, or 5.4 percent, from 2013 to 2014, helping Chicago 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 Chicago 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.

“The vast majority of area exporters are small and medium-sized firms who are reaching new heights with their export success,” said Monica Toporkiewicz, Acting Director of the U.S. Commercial Service in Chicago. “We work with hundreds of business clients each year, and many firms soon discover their export potential is much greater than originally thought.”

Chicago Metropolitan Area Export Highlights for 2014:

· Achieved increased goods exports for a fifth consecutive year.

One of 139 metro areas to achieve record goods export levels.

Chicago sent 60 percent of its goods exports to markets where the United States has trade agreements.

Key merchandise export categories included computer and electronic products; chemicals; transportation equipment; machinery; and petroleum and coal products.

Canada, Mexico, China, Germany, and Japan were leading destinations for Chicago’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 Chicago at (312) 353-8059 or visit http://www.export.gov/illinois/.

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/metrorepo rt/index.asp.