While 70 percent of the world’s purchasing power is located outside the United States, less than one percent of America’s 30 million companies export. In South Carolina, however, we’re experiencing an international trade renaissance. Last year, our exporters achieved a seventh consecutive record year in export sales, topping $31 billion for the first time.
To celebrate this export success and recognize some of the companies that are leading the way, S.C. Commerce has added an award to its annual Industry Appreciation event. Last week, for the second consecutive year, three companies were honored with an Export Achievement Award – Measurement Technology Group (pictured to the right), Phoenix Specialty Manufacturing (pictured below) and Stewarts of America.
A designer and manufacturer of measurement solutions, Greenwood County-based Measurement Technology Group has entered seven new markets over the last three years. Similarly, Phoenix Specialty Manufacturing of Bamberg County has also seen tremendous export growth – up 300 percent since 2014. And, with 45 percent of its revenue derived from export sales, Stewarts of America, a Greenville County manufacturer of machinery for the textile industry, regularly exports to more than 50 countries.
As these three companies have shown, a tremendous opportunity for continued growth exists for firms that are interested in exporting their goods to foreign markets. For more information on international trade and how your company can take advantage of services offered by the state, click here.