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Industrial Machinery Will Be Top Growth Area For U.S. Exports And Imports, HSBC Trade Report Shows

Stocks in this article: HBC

In fact, a related HSBC report issued last month showed how some U.S. companies have benefitted from global expansion and export trends. The report, “Spotlight on U.S. Trade,” the first in a series of reports analyzing publicly-traded companies in key regions around the U.S., showed that global businesses based in Upstate New York achieved almost three times the growth rates and earned over 10 per cent more in revenue than their domestic peers in the region between 2007-2011. The report included global expansion stories from companies such as Columbus McKinnon, Constellation Brands, Ecology and Environment, Inc., and Moog.

Regarding overall export growth for the U.S., the report anticipates growth to slow to 2.2 percent in 2013 before increasing moderately to 3.9 percent in 2014. Similarly, U.S. imports will slow to 1.3 percent in 2013 before increasing somewhat to 2.7 percent in 2014.

Global Trade Trends: Emerging Markets Add Value to Supply Chain

Globally, the report notes the shift towards the production of higher value goods is particularly evident in Asia, with a clear pattern emerging as Chinese export growth in information and communications technology and industrial machinery gathers pace. This balances a declining rate of growth in sectors such as textiles, giving rise to opportunities for companies in the smaller, faster growing countries around the region to win contracts to produce these more basic goods.

Additionally, industrial machinery is the world’s top sector for goods traded and will encompass around 25 percent of goods exported among the top 25 trading nations by 2030, and contribute over a third of the growth in total merchandise exports from 2013, according to the forecast.

For a copy of the global report and further information, visit: http://www.globalconnections.hsbc.com/

Notes to editors:

About the HSBC Trade Forecast - Modeled by Oxford Economics

Oxford Economics has tailored a unique service for HSBC which forecasts bilateral trade for total exports/imports of goods, based on HSBC’s own analysis and forecasts of the world economy to generate a full bilateral set of trade flows for total imports and exports of goods.

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