Report: Trade supports 124k jobs in SD
International trade supports an estimated 124,000 jobs in South Dakota and generated $3.8 billion in goods exports in 2012, according to the Business Roundtable, highlights these and other facts about trade in a new state-by-state analysis.
Drawing from new Business Roundtable research and U.S. government data, the facts and figures highlighted in the South Dakota state analysis provide details on the economic benefits of trade and U.S. trade agreements, including:
• South Dakota's trade-related employment grew nearly four times faster than total employment from 2004 to 2011.
• South Dakota's goods exports have grown three and a half times faster than state gross domestic product since 2002.
• Eighty-three percent of South Dakota exporters are small- and medium-sized companies with fewer than 500 workers.
• U.S. trade with free trade agreement partner countries has led to export growth, and since 2002, South Dakota's goods exports to FTA partners have increased by 190 percent. In 2012, $1.7 billion of South Dakota's goods exports, or 44 percent, went to FTA partners.
The Business Roundtable is an association of chief executive officers of U.S. companies with more than $7.3 trillion in annual revenues and nearly 16 million employees.