US exports to China hit US$100b in 2011

Exports from the United States to China surpassed US$100 billion for the first time, according to a report released by the US-China Business Council on Wednesday.

The United States exported more than US$103.9 billion in goods and services to China in 2011, up 542 percent from the US$16.2 billion in 2000.

The annual report said China remains the third largest export destination for the U.S., just behind Canada and Mexico, which border the US and have a free-trade agreement with it.

"Exports to China are vital to America's economic health and create good jobs for American workers," said Erin Ennis, vice-president of the US-China Business Council. After the recent recession, the US exports to China regained momentum faster than the country's exports to any other place in the world, said the report.

In 2010, US President Barack Obama introduced the National Export Initiative, a plan to double US exports by 2014. Meeting that goal will require exports to increase by at least 15 percent a year on average for five years.

Among markets that receive large amounts of US exports, China is the only one in which they have increased by more than 15 percent a year since 2000, the report said.

Last year in China, the demand for US exports was the greatest for agricultural products, electronics, chemicals and transport equipment.

The report also shows that the top five US state exporters to China are: California at $14.2 billion, Washington at $11.2 billion, Texas with $10.9 billion, Louisiana with $7.3 billion, and New York at $4.5 billion.