The U.S. Census Bureau released the full-year 2010 trade data today, so we wanted to provide a few highlights:
-Imports under GSP in 2010 totaled $22.6 billion, up from $20.2 billion in 2009, but still well below their 2008 peak of $31.2 billion
-Thailand was the top GSP supplier country with $3.6 billion, followed by Angola, India, Brazil, and Indonesia
-Thailand was the only one of the top 10 supplier countries whose 2010 exports under GSP exceeded its 2008 exports
-Angola and Equatorial Guinea, whose GSP exports consist primarily of oil, were the only two countries in the top 10 that saw a decrease in GSP exports from 2009 to 2010
-Auto parts and capital goods (machinery and equipment used by domestic producers) experienced the largest increase in GSP imports in 2010 (41 percent and 19 percent, respectively)
We’ll break down the GSP savings by product, country, etc., in the near future, so keep an eye out for those figures.