China remains the top market for the U.S.
May 30, 2016 Category Foreign trade, Weekly
China remains the top market for U.S. exporters and represents huge potential for future opportunities for U.S. businesses, according to the latest report from the U.S. Department of Commerce. The 19 Top Markets Report showed that China ranked highly among top U.S. export markets in sectors from automotive parts, civil nuclear, building materials, construction equipment to education, financial technology, manufacturing technology and franchising. In the country analysis for the aircraft industry, the report said China is expected to be the world’s largest single-country market for civil aircraft sales over the next 20 years. Boeing Co estimated that China will need to add more than 6,000 aircraft to its commercial fleet to meet traffic demand. In the building materials sector, the report said that although the Chinese economy is experiencing a slowdown, it is the world’s largest construction market and will continue to provide a strong opportunity for U.S. building-products exporters. The report also described civil nuclear sector growth in the next decade in China will ensure commercial opportunities for U.S. civil nuclear exporters. China was also the top market for U.S. education. In 2014-15, China sent 304,040 students to the U.S., up 10.8% from 2013-14. Chinese students make up 31% of all international students in the U.S., the China Daily reports.
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