In 2011, trade – exports and imports – with the 11 other countries participating in the U.S. Trans-Pacific Partnership (TPP) negotiations supported an estimated 300,000 jobs in Indiana, according to new economic data released today by the Business Roundtable. In addition to the United States, the TPP countries include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. The new data provide analysis on how expanding economic ties with these countries will help to support Indiana’s economic growth and jobs.
Business Roundtable’s Indiana state fact sheet details the benefits of trade and investment with these countries, including:
- Fifty-three percent of Indiana goods exports went to TPP countries in 2012.
- Indiana exported about $17.2 billion worth of goods to the six TPP countries that are current bilateral U.S. free trade agreement (FTA) partners – Australia, Canada, Chile, Mexico, Peru and Singapore – in 2012, accounting for roughly 46 percent of Indiana’s goods exports globally.
- Indiana exported about $1.3 billion worth of services to the six current U.S. FTA partner countries in 2011 – accounting for roughly 18 percent of Indiana’s services exports globally.
- The TPP will open new markets for Indiana with five countries that are not current U.S. FTA partners – Brunei, Japan, Malaysia, New Zealand and Vietnam. Indiana exported $2.3 billion in goods in 2012 and $661 million in services in 2011 to these “new FTA” TPP countries.
Learn more about how trade and investment with the TPP countries supports growth and jobs in Indiana.
To educate on the many benefits of trade to Indiana and the importance of passing Trade Promotion Authority legislation to advance U.S. trade agreements such as the TPP and support U.S. growth and jobs, the Roundtable and other business associations have launched the Trade Benefits America Coalition. For more information, visit the Roundtable’s website at www.brt.org/trade or the coalition’s website at www.tradebenefitsamerica.org.
