Made up 97.3% of all identified exporters and produced 30.2% of the known export value in FY 2007.
Brazil is also seeking to export higher-value produce, in which it has traditionally lagged.
The country has been trying, unsuccessfully, to export manufactured and value-added goods abroad for nearly 10 years now and not only to China.
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But many of them do choose to locate in the expensive city and pay the high wage, and as I point out in my book, expensive places like Silicon Valley employ a larger share of American workers in high value, export industries than do cheap places like Houston.
Thus capitalising on the value would require export: and there the numbers become rather difficult.
For Americans concerned about their country's export prospects, the depressed value of the greenback ought to be good news.
Gone is the low value-added export model, and in its place is an economy increasingly dependent on its own people and their consumption.
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Developing economies, for example, have a whole decade to cut the value of their export subsidies by 24% and the volume of subsidized exports by 14%.
But, says Jamie Nicholson of Warburg Dillon Reed, an investment bank, with car makers and other steel buyers increasingly looking for local suppliers to make just-in-time deliveries, the export potential of high-value products is not good.
As China moves up the value chain, it will export cheaper products in new industries, such as cars.
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Acceding to De Beers's requests for secrecy, it refuses to disclose figures on the import and export of rough diamonds, their origin or their value.
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The Europeans have won every battle with us at the WTO, even though they routinely rebate domestic value-added taxes to companies that export goods and services from their countries.
In the first three months of this year, Japan's real global exports were 10% lower than during the same period a year earlier, according to Richard Katz of the Oriental Economist Report. (A "real export" measures units shipped, not the yen value.) Nominal exports, measured in yen instead of number of widgets, have not taken such a severe beating.
China's huge size means that to maintain stellar growth rates, the economy needs to move up the value-added chain fast and grab more export market share.
Business group CBI Scotland expressed frustration that export volumes had not been stronger, despite a drop in the value of sterling.
Francis Lun, managing director of Lyncean Holdings in Hong Kong, said the accuracy of the export number was in doubt, based on what is known about the value of Chinese goods passing through Hong Kong, a semiautonomous Chinese territory.
However, China's future export growth is likely to come not from existing industries but from higher-value products, such as computer chips and cars.
Cheekily, perhaps, in view of its own farm bill, Washington has proposed the eventual abolition of all agricultural export subsidies and a limit on domestic farm subsidies of 5% of the value of total domestic production.
Two other sections of S.1712 create worrisome loopholes: Section 204 allows the re-export of any product if the controlled U.S. content amounts to 25% or less of the value (not the strategic significance) of the product.
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