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The rise of U.S. exports to East Asia and Latin America

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  • Timothy J. Schmidt

Abstract

Exports have become an increasingly important source of revenue for both national and regional firms in the United States. U.S. exports are rising rapidly, especially from the Midwest. As a result, national and district firms must be ever more attentive to changes in U.S. export markets. One such change is the rapid growth of U.S. export markets in the developing nations of East Asia and Latin America.> Schmidt analyzes current trends in the geographic distribution of U.S. exports and identifies the primary growth markets for U.S. exports in the years ahead. He suggests the developing nations in East Asia and Latin America will soon rival today's industrialized nations as the most important U.S. trading partners. This finding presents U.S. firms with a significant challenge. To take advantage of these growing markets, U.S. firms must establish new distribution networks, learn foreign regulations and customs, and train sales personnel in these developing geographic regions. Because such tasks require commitments of time and investment, firms must be able to forecast where the future demand for U.S. exports will be concentrated.

Suggested Citation

  • Timothy J. Schmidt, 1994. "The rise of U.S. exports to East Asia and Latin America," Economic Review, Federal Reserve Bank of Kansas City, vol. 79(Q III), pages 67-86.
    • Handle: RePEc:fip:fedker:y:1994:i:qiii:p:67-86:n:v.79no.3
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    References listed on IDEAS

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