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 TRADE TOPICS
 Agriculture |  China | Corporate Sustainability | Import  | Poverty |  Security |  TPA/Fast Track

Washington State Releases Landmark Study on Imports

View the Executive Summary
 
 “Foreign Imports and the Washington State Economy” is a landmark study recently released by Washington State's Department of Community, Trade and Economic Development. It was researched and written by economists Robert Chase and Glenn Pascall. Washington State is the first state to highlight the importance of imports by documenting their impacts in such a study. 

Members of WCIT who are importers were highly instrumental in persuading the State to do the study. One of the motivating factors for the study was to begin to dispel the idea that "exports are good and imports are bad". The Council has long viewed imports as essential to the whole trade equation. Click to view the Council's Position on Imports.  The Trade Council was a partner in the press conference on August 5 with the Governor's State Trade Representative, Paul Isaki, when the study was released.

The study does more than just raise the bar on "1 in 4 jobs depends on trade" to "1 in 3 jobs depends on trade." Overarching themes are illustrated: linkages, productivity, competitiveness, employment, inflation and prices, interdependence, policy dimensions.

• Linkages are strikingly significant. We cannot export without importing.
  
  
• Two-way trade is critical to Washington State's businesses and workers. Jobs and revenues that would not otherwise exist in the state are created by two-way trade flows.
  
  
• Imports support key industries as inputs to final products for export; imports arrive as final goods for wholesale and retail sales; imports flow through the State for use elsewhere in the U.S.
  
  
• The backbone of two-way trade flows is a strong and integrated port system.
  
  
• Crucial physical and communications infrastructure involve key policy decisions.
  
  
• Agricultural exports benefit by lower transportation rates on empty westbound containers.
  
  
• Imports help hold down inflation and consumer prices.
  
  
• Trade is a two-way street. U.S. purchases of foreign goods helps economics hurt by the Asian crisis get back on their feet. Our trading partners must sell their products if they are to buy ours.
  
  
• Imports of lower-cost inputs to production and of wholesale and consumer goods at competitive international prices help keep our state's and U.S. products competitive.
  
  
• The benefits of an open trading system are clear, and emphasize dramatically the need for informed trade policy decisions.

Perhaps the most significant fact is that the study was done at all. It signifies our state's trade leadership once again. Special thanks to WCIT member Skip Kotkins, CEO of Skyway Luggage, for his dynamic contributions from start to finish.  

If you are interested in receiving a copy of the import study, 
please call Joseph Holly at (206) 956-3189, or e-mail josephh@cted.wa.gov