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International Business and Trade
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Import/Export Sales Management
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Nature of the Work
U.S. total trade reached a record $2.03 trillion in 1998, surpassing the $1.99 trillion of 1997. Over 209,000 U.S. firms, 202,000 of which are small businesses, exported goods, and services in 1997.
Companies surely benefit from trade. But trade also helps spur the U.S. economy and maintains and creates jobs. It improves the standard of living by providing a wide range of goods and services to Americans. And companies that export are more likely to stay in business-today and in the future.
- • Trade, particularly exports, means more jobs for Americans and better pay. Between 1986 and 1994, the number of export-related jobs in the U.S. rose 63 percent to 10.3 million-four times faster than overall private industry job growth.
- • Jobs supported by goods exports, both white- and blue-collar combined, pay on average 13 percent better than the average U.S. job.
- • Trade creates higher-skilled jobs that enhance workers' future prospects. Exporting plants are more likely to use new technologies that can compete in the world marketplace than other plants. Learning new skills, for example, in computer, transportation, or fabricated metal industries gives workers more options over the lives of their careers.
- • Companies that export have better corporate survival rates. They are more likely to be around to employ workers, their neighbors, and their children than other employers.
- • Trade improves our standard of living. Having the world's most open market gives Americans more choices of products and services than any consumers in the world. The keen competition for American consumers also keeps prices low and quality high.
Many small and medium-sized companies already benefit from trade. In 1992, small and medium-sized companies (those with less than 500 employees) accounted for 29.5 percent of U.S. goods exports. Of this 29 percent, firms with 100-499 employees generated 9.6 percent and firms with under 100 workers generated 19.9 percent of U.S. goods exports. Companies that are involved directly in trade themselves, benefit because they supply parts or services to other companies involved in exporting and importing.
Nature of the Industry
Imports create unique jobs in our economy, such as retail, importing companies, and auto dealerships. These jobs would be lost if imports were limited. Imports satisfy consumer demand for greater choices in the selection, price, and quality of the goods they buy.
Exports create jobs and boost economic activity. But we cannot expect other countries to buy our goods if we are not buying theirs. That's why we must keep our markets open while pressing for open markets around the world.
Why International Business and Trade as a Career
There are several reasons for students to consider careers in international trade.
- • All business is international business. Even if your company does not import or export, you are competing against companies that do.
- • It's where the people are. Over 95 % of the world's population are outside the United States. U.S. firms will continue to look abroad for markets. (According to the United Nations Population Fund, the world population passed 6 billion in October 1999.) Mexico, our NAFTA partner has over 100 million people and 80 % of its population is under the age of 40. Mexico accounted for over 32% of Alabama's exports in 1998. India has over 1 billion people and an estimated middle class larger than the entire population of the U.S.
- • It's where the growth will be, too. Many of these emerging markets like India and Brazil are growing faster than the U.S. economy. These areas are prime targets for U.S. exporters. With more free trade agreements, the volume of international trade is growing. Analysts expect it to double in the next five years. And more U.S. exports create jobs here at home. So the demand for people with specialized skills in international trade is likely to grow in tandem.
A few examples of international careers include opportunities in - export and import sales management, international market research, international banking and law, fashion merchandising and international sourcing, language and communication, diplomacy and foreign affairs, international tourism and hospitality, international transportation, shipping, and logistics, international environment and engineering, and many more.
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