Aug 7, 2021 | Chamber News

How to Think About Importing and Exporting

by | Aug 7, 2021 | Chamber News | 0 comments

During the last 20 years the Maryland economy has been positioning itself to be more integrated with the world economy through the import and export of both goods and services. Maryland, however, lives in an economic environment called the United States of America which has gone through a huge transformation in the past two years and will change even more in the future that all business owners should bear in mind:

  • The American Economy is becoming less diversified each year as it sheds capabilities in some manufacturing areas
  • The landscape for international commerce is undergoing a transformation with increased economic activity and increasing competition
  • Small importers and exporters have an increasing number of opportunities
  • More resources exists than importers-exporters realize

In addition to the U.S. Department of Commerce, several other federal agencies provide export assistance in areas such as trade financing and business planning.