Increasing Exports
Last year, Alabama companies exported more than 12 billion dollars of goods and services to other countries. While that number might sound impressive, it’s actually a 20 percent DECREASE from 2008. The global economic downturn is mostly to blame for the slump. President Obama wants to boost American exports, particularly to developing nations like Vietnam, India, and South Africa. The administration’s goal is to double American exports in five years. Last week, Francisco Sanchez came to Birmingham to talk about the export initiative. He’s the Under Secretary of Commerce for International Trade. Sanchez tells WBHM’s Bradley George that the President’s export plan is supposed to help businesses of all sizes.
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