Two of the world's most important economies -- China and the United States -- are showing signs of growth.
U.S. exports grew in May, while imports fell, helping to narrow the trade deficit to its lowest level in nearly nine years. The report prompted economists to revise up their estimates of second-quarter gross domestic product. Some even suggested the economy might have grown slightly in the second quarter.Read all about it here.
SBA will hold an International Trade Symposium in Nation's Capital on Tuesday, November 18. Part of what will take place:
Experts will educate small businesses on the resources available to help them export their goods and services. The symposium will begin with a panel of successful small business exporters who will share their stories and expertise on tapping into the global market. Valuable networking and counseling opportunities for small businesses interested in expanding their businesses through international trade also will be available.Read more here.
Reducing barriers to trade is a significant way to help small businesses through the current economic downturn. With exports now accounting for a larger percentage of U.S. GDP than at any other time in history, expanding free trade is crucial for America's long-term economic health. Small businesses are playing an increasingly larger role in the U.S. export sector. The number of small and medium-sized exporters grew more than twice as fast as the number of large company exporters, between 1992 and 2003. This international trade symposium will enable small businesses to better understand how to take advantage of free trade and continue export growth.
