What is the outlook for importing and Customs Brokers?
We, as a nation, import more than we export. The difference between our exports and imports is measured by our Trade Deficit, which last year was $711.6 Billion Dollars in favor of imports. As importing continues to grow, so does opportunity for Customs Brokers, who hold the highest professional degree recognized in our industry U.S. import trade has grown by over 130% in the last 10 years. The value of imports has grown from 8% of Gross Domestic Product (GDP) to over 20% of GDP in the last 20 years. The value of imports coming into the U.S. is over $1.4 trillion, resulting in 29.6 million trade entries. Simply put – we import more than we export. That has always been the case for the last 20 years. Currently the ratio is 6:1 Meaning there are six import shipments for each export shipment. Domestic transportation has been flat, with a slight decline in 2008.
