2012beof-111206092256-phpapp02

Additionally slow wage and salary growth through 2012

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: pected to boost domestic demand and temper import growth in 2012. Additionally, slow wage and salary growth through 2012 will moderate the consumption of foreign goods. Rising demand for energy products and higher energy prices will drive import growth through 2012. new Free Trade Agreements: Korea, Colombia, and Panama On October 12, 2011, the U.S. Congress passed free trade agreements with the Republic of Korea, Colombia, and Panama. The trade agreements will help U.S. workers, farmers, ranchers, and businesses gain new customers in three lucrative and rapidly growing markets, increasing U.S. exports by $13 billion each year. It is estimated that the agreements will boost U.S. GDP by more than $15 billion. In 2010, some $2.5 billion, or 39%, of all manufacturing exports went to countries with a free trade agreement with the United States. continued on page 102 101 2012 Colorado Business Economic Outlook International Trade continued from page 101 MAJOR DESTINATIONS FOR COLORADO EXPORTS OF MAjOR DESTInATIOnS FOR COLORADO ExPORTS OF MAnUFACTURED GOODS, MANUFACTURED GOODS, AnD AGRICULTURAL PRODUCTS MInERALS, MINERALS, AND AGRICULTURAL PRODUCTS 2007-2010 2007–2010 (In Millions of Dollars) (In Millions of Dollars) Country Canada Mexico China Japan Netherlands Germany Switzerland United Kingdom Philippines Korea, Republic of Malaysia Hong Kong Taiwan Australia France Belgium Thailand India Singa...
View Full Document

Ask a homework question - tutors are online