Despite all the negative implications associated with the continued decline of the US dollar, there exists a silver lining: US goods are quickly becoming more price-competitive in the international marketplace.  With most major currencies gaining ground against the dollar over the past several months, an otherwise dour situation is affording windfall to US companies already established as sellers in foreign markets, or willing to expand sales to overseas buyers.  Many savvy businesses have already begun diverting resources and attention to attracting overseas buyers, putting a higher emphasis on stimulating foreign interest in US-produced goods.   

The decline in dollar value can be problematic from an import perspective as currency fluctuations cut into a company’s bottom line, but it creates new market opportunities as our major trading partners find themselves with more purchasing power here in the States, in turn raising personal incomes for many US workers while narrowing the trade deficit.  Many industries that have been hardest hit by the outsourcing of production over the last decade, namely manufacturing, stand to benefit from the decline.   

A few notable “hot-spots” for US exports include Argentina, Brazil, and Chile.  These countries have experienced double-digit growth on imports from the United States in recent years, with the trend gaining ground in the first quarters of 2007[1].  The European Union also presents a great option for exporters, with the Euro showing significant growth against the dollar. 

For more information on exporting processes and procedures, please contact your local Scarbrough export representative.

-- Nathan Eilers, Branch Manager Milwaukee
 

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