3 EXPORTS AND IMPORTS

EXPORTS KEEP CLIMBING Government and business are cooperating in a big effort to increase U.S. sales to foreign countries

VIRGINIA KINNARD, C/iewi/c<ï/ and Rubber Division, BDSA, Washington, D.C.

U.S. foreign trade in chemicals and allied products topped the $2 billion mark in 1961 for the second successive year. The total of $2,376 billion was 2.29c greater than 1960's $2,324 bil­lion. Exports of chemicals and allied products, $1,835 billion, were at an all-time high, although only 1.1 c/c greater than in 1960. U.S. exports of all com­modities, which gained in 1961 over 1960, did not reach the 1957 record. Exports of chemicals and related prod­ucts (Group 8) , $1,725 billion, were 2.3r/c higher than in 1960. Imports of chemicals and allied products, $541.3 million, were up 6',r, but those of chemicals and related products (Group 8) were up 107r, a new high. Imports (Group 8) followed a fairly-even monthly pattern, but exports varied considerably, from a low of $121 million to a high of $151 million.

Exports of chemicals and related products in the first five months of 1962 ran well ahead of those in the 1961 period, up $35 million. The largest export increase was in toluene, 106Cr, stemming from heavy demand abroad for this material for synthetic fibers and new plastics materials. Fer­tilizers and explosives had substantial increases. Specialties had a smaller gain and industrial chemicals and soap slight increases. Declines in coal tar products, pharmaceuticals, and paints were very small. Imports were down $13 million.

The trend toward a freer flow of trade both geographically and in prod­ucts was even more pronounced in 1961 than in 1960. More than 60 smaller or developing countries in all geographic areas increased their pur­chases of U.S. chemicals in 1961.

Greater interest of U.S. firms in foreign trade and strong efforts to expand ex­ports under the U.S. export expansion program were factors in these in­creases.

Geographic Areas

Canada, long our largest single cus­tomer, increased its purchases almost 39c, but did not reach the average yearly rate of increase of 8% for the years 1949-61. Chemical specialties and coal tar products accounted for most of the increase; industrial chemi­cals were down slightly.

Western Europe retained first place as our largest regional customer, which it took from Latin America in 1959, but following a leveling off of indus­trial growth, exports to that area in­creased only 27r compared with a

EXPORTS AND IMPORTS

Chemicals and Allied Products

Millions of Dollars

Exports

Imports

Source: U. S. Department of Commerce

1949 1950 1951 1952 1953 1954

34 C & E N S E P T . 3, 1 9 6 2 P A R T 2

1955 1956 1957 1958 1959 1960 1961

U.S. EXPORTS OF SELECTED CHEMICALS IN RELATION TO PRODUCTION

Commodity

Phenol Colors, dyes, stains, and color lakes Color lakes and toners Medicinal chemicals Penicillin Dihydrostreptomycin Acetylsalicylic acid (aspirin) Insecticides and fungicides for agricultural use DDT Copper sulfate Plastics and resin material Calcium carbide Borates Sodium carbonate, calcined (soda ash) Sodium hydroxide (caustic soda) Synthetic anhydrous ammonia Chlorine Carbon black Paints, varnishes, lacquers, and fillers Ammonium sulfate Phosphate rock Source: International Economic Analysis Division, Β

Percentage < 1951

5.4 11.3 7.7

14.5 26.4 n.a. 16.1 18.5 n.a. 40.3 7.8 0.9

n.a. 2.8 8.8 0.3 0.6

25.8 2.4

n.a. 15.6

ureau of Foi

1956

7.6 6.8 9.3

10.0 29.1 35.1 4.7

28.7 41.6 45.2 8.2 0.4

44.6 4.2 6.3 1.6 1.1

23.1 2.1

36.6 20.4

Df Production 1959

5.7 6.7 9.2

n.a. 23.5 44.3 6.4

n.a. 48.0 6.6

n.a. 0.4

40.9 2.7 5.3 1.9 0.7

26.1 2.1

23.3 20.2

reign Commerce, U.S.

1960

6.3 7.5 7.6

n.a. 27.6 40.1 5.1

n.a. 60.3 25.6 n.a. n.a. 46.9 2.9 4.9 2.3 0.6

26.4 1.9

15.8 24.7 Depart-

ment of Commerce

27 % gain in 1960. Shortages of skilled labor throughout the area also limited expansion and demand for chemicals. Exports to the European Economic Community (EEC) coun­tries increased more than 5%, but those to the European Free Trade As­sociation (EFTA) decreased almost 3 % .

The largest loss among leading pur­chasers was to the United Kingdom, which dropped to second place be­cause of a tightening-up program after the liberalization measures of 1960 and a slower growth rate. The Neth­erlands, with $100.6 million, became our leading Western European custo­mer for the first time. Pharmaceuti­cals led with a 44% increase and coal tar products were up 36%. Italy, taking third place from West Germany, had increases in all product groups except specialties and paints, where declines were small. Coal tar prod­ucts to Germany were up 32% but industrial chemicals were down 39%.

The U.S. is by far Germany's lead­ing chemical supplier, but a lull in the German economy, lack of labor for capacity operation, and a cautious in­ventory policy affected our exports. France in sixth place took $10 mil­lion more than in 1960. Industrial chemicals had a whopping 7 1 % in­crease and coal tar products were up 44%. The boom in French industry began later than that in other Western European countries, and demand is strong from an economy operating at high levels. Switzerland took $4 mil­lion more than last year.

Latin America, formerly our lead­ing regional customer, remained a soft spot. Exports were up in 1960 after a slight drop in 1959, but de­creased 4% in 1961. Restrictions on trade with Cuba, exchange difficulties and other economic problems, and heavy competition from West Europe, Japan, and the Soviet bloc held down U.S. exports. Shipments to Mexico, the largest single purchaser, dropped from $114 million in 1960 to $108 million in 1961, the largest loss being in pharmaceuticals. Both Vene­zuela and Brazil upped their purchases but did not make the 1960 percentage gains. Argentina took $26 million, the largest increase being in chemical specialties.

Strong demand for U.S. products is held down by lack of exchange. Ar­gentina and Brazil have had such difficulties, and recently imposed re­strictions in Chile will limit our exports

there. Prices for Latin American com­modities have sometimes been weak, which gives the Soviet bloc an ad­vantage through barter trade. The whole area will ultimately be a much larger market as industrialization progresses and consumer income rises, but the immediate outlook is uncer­tain and political conditions will have a strong effect.

Exports to Asia were up 14% de­spite a 24% drop to India. As in 1960, smaller countries increased their purchases and gains were more wide­spread. Fertilizers, insecticides and other items in the specialties group, and pharmaceuticals are prominent items. Japan, our second largest chemical customer, took 2 1 % more than in 1960. Chemical specialties were up $13 million and coal tar prod­ucts $5 million. Fertilizers and indus­trial chemicals had smaller gains. Some slowdown in the economy may follow efforts of the Japanese govern­ment to dampen the boom, but im­ports are expected to benefit from liberalization measures already in force and those to become effective in October. Demand for petrochemi­cal raw materials and intermediates continues strong. The Japan Foreign Trade Council predicts U.S. chemical sales of $500 million to that country by 1970.

The largest loss to India was in chemical specialties, down $9 mil­lion. India has adopted stringent measures to conserve its very low ex­

change reserves and the immediate outlook for increased exports is not favorable. However, opportunities for licensing arrangements and other par­ticipation in the Indian chemical in­dustry are good. Indian trade with the Soviet bloc, which allows payment in rupees, is growing. Indonesia took $7 million more and Korea an addi­tional $6.7 million. Shipments to the Philippines and Hong Kong were down slightly.

Trade with Africa was up 11% de­spite a 7.6% decrease in exports to the Union of South Africa. Exports to Egypt almost doubled, mainly because of a steep rise in pesticides. The Afri­can countries are large potential mar­kets, but no sudden gains can be ex­pected. Trade has been restricted by foreign exchange difficulties, low per capita income, and lack of industrial development and political stability. However, rising exports to many smaller countries in the area indicate economic growth. New markets also are emerging in the Middle East, a long neglected area.

Commodities

Coal tar products had the largest percentage increase in the chemical group, 12.8%. Cresols rose sharply-more than one third of domestic pro­duction was shipped abroad in 1961 to satisfy high demand, especially from Western Europe, Latin America, and Japan. Greater demand for rubber

S E P T . 3, 1962 P A R T 2 C & E N 35

UNITED STATES EXPORTS OF CHEMICALS AND ALLIED PRODUCTS (Quantity in thousands of pounds unless otherwise noted; value in thousands of dollars)

1961 1960 1951 1947

Grand total Chemicals and related products

Coal tar products Coal tar acids Other coal tar intermediates Rubber compounding agents Colors, dyes, and stains Medicinal and pharmaceutical

preparations, total Vitamins and viosterols Insulin and other glandular

products, excluding enzymes Sulfonamide drugs Antibiotics

Chemical specialties, total Insecticides and fungicides Plastics and resin materials Organic surface-active agents Antiknock compounds, nonpet.

Industrial chemicals, total Acids and anhydrides Alcohols Acetone Synthetic collecting agents Cellulose acetate, not plasticized Boric acid and borates, crude and

refined Sodium compounds, total Carbonate Bicarbonate Hydroxide Gases, compressed, liquefied, and

solidified Pigments, paints, and varnishes

Iron oxide pigments Zinc oxide Lithopone Carbon black Titanium dioxide and pigments Nitrocellulose and other cellulose

lacquers (1000 gal.) Ready-mixed paints, stains, and

enamels (1000 gal.) Fertilizer materials, total (1000 tons)

Ammonium sulfate (1000 tons) Other nitrogenous materials

(1000 tons) Phosphate rock (1000 tons) Superphosphate (1000 tons) Fertilizer mixtures, prepared

(1000 tons) Explosives, fuses, blasting caps Soap and toilet preparations

Allied products from other groups Naval stores, gums, resins

Rosin, gum and wood Turpentine (1000 gal.)

Crude drugs, herbs, leaves, roots Linseed oil Essential oils Sulfur, crude and refined (1000 LT.)

Source: U.S. Department of Commerce

Quantity

74,010 407,661 23,523 12,993

879,221 219,230 88,741

74,015

15,176 27,079 6,894

538,543 1,053,071

264,218 21,992

454,885

6,426 4,366 1,217

522,331 62,207

825

4,146

144

231 4,617

525

86

243,896 3,811

19,462 7,297 1,596

Value

1,835,036 1,725,339

185,489 10,949 66,160 15,421 24,595

275,253 31,740

30,819 7,151

84,002 696,428 106,940 292,878 37,083 30,499

299,038 11,370 50,704 1,014 7,986 2,565

23,212 34,423 4,045

595 11,952

3,939 106,127

855 671 88

48,166 9,216

3,595

16,014 127,490

5,053

18,810 36,910 23,695

6,479 11,971 23,543

109,697 53,123 31,101 1,474 3,806 2,509

13,635 36,624

Quantity

75,682 426,606 20,067 13,969

825,167 204,477 65,693

88,364

10,687 25,830 6,676

601,212 1,125,876

309,371 21,480

475,021

7,724 4,273

380 543,032 67,311

920

4,530

237

279 4,756

467

71

338,287 4,106

55,931 6,979 1,785

Value

1,814,112 1,679,921

166,663 12,403 71,128 12,781 22,863

274,717 31,327

30,956 6,824

88,370 662,576 105,892 297,485 36,563 22,730

310,900 17,338 65,082

826 7,791 2,731

25,576 36,885 5,143

619 14,311

3,704 108,037

1,113 659 35

49,601 10,001

3,809

16,494 118,995

6,701

18,949 37,543 19,882

5,383 13,197 24,836

134,191 68,034 41,532 1,888 4,549 5,871

13,475 42,262

Quantity

32,518 60,291 13,541 22,521

n.a. 94,612

40,614

34,305 27,127 26,405

426,889 1,171,745

339,682 29,852

547,124

28,938 17,789 40,947

433,493 78,484

2,791

6,651 2,788

134

119 1,934

299

81

4,345 16,977 3,695 1,307

Value

1,076,497 977,090 77,693 9,358

20,177 6,788

31,407

281,382 35,316

18,974 15,385

123,431 271,906 64,821 89,936 16,632 31,391

172,397 6,375

14,667 4,052 5,693 9,845

13,322 57,635 7,988

925 31,036

6,086 103,174

1,490 3,239 3,616

39,155 13,274

6,652

19,102 50,677 6,797

7,346 14,750 5,848

5,567 n.a.

19,861 99,407 48,031

355,691 5,816 3,265 2,988

11,530 33,593

Quantity

26,727 39,537 10,131 68,270

n.a. 36,218

102,290

37,063 16,049 6,156

171,473 871,662 214,316 60,635

276,570

67,482 38,163 27,305

319,076 42,343

3,382

7,549 1,470

89

182 753 260

19

6,109 7,721 3,089 1,349

Value

879,440 783,215 120,860

5,241 13,138 4,426

80,728

177,039 27,669

13,358 11,593 34,502

153,240 23,330 64,981 3,968 9,000

160,209 11,896 18,017 3,645 3,294 2,396

4,652 57,573 8,704 1,737

26,665

5,114 85,507 2,200 4,770 1,784

26,849 5,184

7,891

20,988 35,609 5,029

9,465 7,005 5,411

1,089 9,437

41,314 96,225 47,759 30,889 4,586 4,349 2,505

13,905 27,707

chemicals stems from higher consump­tion of synthetic rubber in Western Europe. The specialties group has shown weakness for several years. It is still outstanding in Group 8, but has not been making the spectacular gains of former years. The increase in 1961 was only about half that of 1960.

However, the growth of most econo­mies will increase demand for items in this group, which includes many new products.

A decline in exports of pesticides in the last quarter of 1961 held down a gain in that group and reflects a sharp drop in prices paid by AID.

Plastics and resins were up in quantity but down in value. This trend was most apparent in polyethyl­ene in which both the total and unit values dropped considerably. For the styrènes and vinyls, the decline was more moderate. Antiknock com­pounds had a substantial increase.

36 C&EN SEPT. 3, 1962 PART 2

UNITED STATES IMPORTS OF CHEMICALS AND ALLIED PRODUCTS1

(Quantity in thousands of pounds unless otherwise noted;

1961

value in thousands of dollars)

1960 1951 1947

Grand total Chemicals and related products

Coal tar products, total Crude coal tar products, total

Dead or creosote oil (1000 gal.) Benzene (1000 gal.) Naphthalene

Intermediate coal tar products Colors, dyes, and stains

Medicinal and pharmaceutical preparations, total

Menthol, synthetic and natural Industrial chemicals, total

Acetic acid Arsenic trioxide Ethyl alcohol (1000 gal.) Cobalt oxide Glycerol, crude and refined Iodine, crude Potassium compounds Sodium carbonate, calcined Sodium cyanide

Pigments, paints, and varnishes Fertilizers and fertilizer materials

Ammonium sulfate (1000 tons) Ammonium nitrate and mixtures (1000 tons) Calcium cyanamide (1000 tons) Sodium nitrate (1000 tons) Ammonium phosphate (1000 tons) Potash fertilizer materials (1000 tons)

Potassium chloride, crude (1000 tons) Peat moss, fertilizer grade (1000 tons)

Explosives, fireworks, and ammunition Soap and toilet preparations

Allied products Casein and lactarene Lac, crude, seed, button, and stick Shellac, bleached and unbleached Chicle, crude Gums and resins, n.e.s. Drugs, herbs, leaves, roots, etc.

Pyrethrum or insect flowers Licorice root, crude Opium, crude

Tung oil Coconut, palm, babassu-nut, and castor oils,

inedible Vegetable waxes, total

Carnauba Essential and distilled oils Dyeing and tanning materials

Quebracho extract ι Imports for consumption. Source: U.S. Department of Commerce

Quantity

33,911 19,355

101,772 20,385 5,253

1,474

7,044 38,966 19,910

681 18,475 3,017

14,023

18,060

243 249 42

494 113 438 332 244

101,827 20,668 6,259 6,311

88,457

4,116 43,219

408 26,894

337,387 17,634 12,750

109,662

Value

541,386 389,999 76,297 25,816 6,732 5,476

10,620 18,594 15,159

35,095 9,100

125,286 461

1,422 4,229

663 2,326 2,852 1,940

2,377 15,276

117,761 8,159

12,617 2,434

15,862 7,471

14,296 10,053 12,620 6,009

14,275 151,387 18,063 4,177 2,086 4,436

16,779 21,683 1,606 1,723 2,640 6,091

35,831 10,008 7,783

20,560 11,673 5,612

Quantity

35,905 38,127 41,402 25,744 4,548

1,080

4,728 25,649 20,201 1,459

18,342 1,894

18,260 180

17,152

211 246 44

355 120 424 327 255

92,153 26,789 5,935 5,865

89,708

459 45,485

458 23,357

310,431 19,925 12,267

98,272

Value

510,869 353,162 68,599 23,674 7,254 9,183 3,307

16,896 11,327

25,685 6,233

118,456 313

1,046 4,362 1,520 3,084 1,425 2,680

1 2,331

15,098 108,024

7,369 12,573 2,579

11,459 7,465

12,261 9,181

13,011 4,536

12,764 157,707 17,947 5,343 1,975 4,207

15,721 25,486 1,256 1,774 2,863 4,472

39,322 11,485 8,679

19,327 12,422 6,123

Quantity

49,499 68,540 73,554 8,722 3,368

733

42,499 29,037

125,044 437

17,643 852

29,344 56,781

137,832

216 343 68

726 135 560 493 114

43,386 25,453 18,119 5,926

70,215

6,886 40,947

763 29,706

334,195 24,921 16,016

273,158

Value

521,191 300,432 53,791 43,120 8,143

25,115 5,083 2,574 6,982

11,823 7,223

120,045 2,164 1,582

60,217 604

6,858 1,320 3,502 1,231 6,428 5,326

101,923 9,491

18,757 3,503

27,025 8,451

15,041 12,697 3,722 1,677 5,847

220,759 13,575 8,286 8,051 3,531

13,976 30,914 2,517 1,371 5,319 9,421

57,779 20,082 14,874 23,069 32,075 23,173

Quantity

34,498 1,055 2,139 2,224

809

368

10,598 27,880 21,501

816 3,646 2,261 6,458 1,356

83,432

114 99

154 557 105 48 35 46

20,887 19,062 21,636 13,761 61,857

8,082 55,922

386 121,564

95,113 23,737 11,836

215,548

Value

285,509 105,148 11,514 8,492 5,776

161 133 592

2,188

7,459 2,629

34,501 583

1,145 14,840

813 1,557 2,757

588 58

3,329 1,553

43,453 4,149 5,024 5,242

15,154 5,203 1,888 1,321 1,450 1,935 4,733

180,361 6,240 6,883

10,546 11,839 13,039 29,159 2,399 2,530 3,541

35,358

15,762 18,082 13,653 12,962 20,491 15,387

World-wide consumption of these ma­terials is increasing and the U.S. is a major world supplier.

Among industrial chemicals, ben­zene gained in exports to Italy, the Netherlands, Mexico, West Germany, and Brazil. Increased shipments of acetone reflect efforts of U.S. producers to compensate for a weak domestic market. The drop in alcohols resulted from decreased exports of ethylene glycol as new facilities in Europe began to supply demand.

The large growth in European pur­chases of consumer products in which petroleum chemical raw materials are used has spurred U.S. exports of those materials.

Fertilizers had the second largest in­crease in Group 8, up $9 million, superphosphate accounting for $4 mil­lion of the increase. Exports in 1962 are running high, especially of am­monium sulfate. Future world market conditions will be affected by proposed new plants in importing countries, AID

programs, and purchases from Free World countries by Communist China.

Sulfur exports were maintained at a fairly good level of 1.6 million long tons. Highly competitive conditions will prevail until world demand and supply are in balance. France, Mexico, Poland, and the U.S.S.R. com­pete strongly in Europe, and Mexico and Canada in the Far East, India, and Australia. Boric acid and borates dropped in quantity but not in value, less of the crude being exported.

S E P T . 3, 1962 P A R T 2 C & E N 37

CHEMICAL EXPORT OUTLETS-1961

Chemical Import Sources—1961

Chile .19.4

United Kingdom 290

Netherlands 21.0

West Germany 57.6

France 29.0

Switzerland 19.8

Argentina 26.4 All values in millions of dollars

Source; Bureau of the Census, U. S. Department of Commerce

The value for pharmaceuticals held but the quantity was down. Exports of medicinals to EEC increased, espe­cially to the Netherlands and Belgium-Luxembourg. Several new Japanese facilities for sorbitol used in ascorbic acid (vitamin C) may increase com­petition in third markets for U.S. pro­ducers, who export about 207c of pro­duction.

Imports

In contrast to 1960, when imports of chemicals and allied products were down slightly, they rose 6% in 1961, and increased very slightly as a per­centage of total imports. The ratio of exports to imports dropped in 1961 to 1:4.4 from 1:4.8 in 1960. Imports of chemicals and related products (Group 8) were up 10%. The prin­

cipal increases were in pharmaceuti­cals and medicinals, $10 million; ferti­lizers, $9.7 million; and industrial chemicals, $7 million. U.S. imports of naphthalene were almost 2.5 times those of 1960, but increased capacity utilizing petroleum as a material may change the 1962 pattern.

Latin America had the largest per­centage gain, 36%, principally in me­dicinals and industrial chemicals from Mexico and Brazil and fertilizers from Chile. The two leading single sup­pliers, as in 1960, were Canada and West Germany, Canada making a $2.2 million gain and West Germany $7 million. France remained in third place and the United Kingdom was fourth. The Netherlands took fifth place from Switzerland and Chile went ahead of Japan. Imports from Europe were up 7%, but shipments

of $129 million from EEC, up ap­proximately 10%, exceeded Europe's over-all gain. West Germany in­creased its sales 14%. EFTA upped its shipments $4 million, from $54 mil­lion, the United Kingdom and Switzer­land being the largest suppliers. More than 40% of imports from Switzer­land were of coal tar dyes. Imports from Asia were up 14%.

Regional Trade Blocs

One of the most significant post­war developments has been the emer­gence of powerful regional trading groups. The European Economic Community (EEC) is the world's fastest growing area. It has given a new dimension to international trade and its effects will be global, forcing

Continued on page 47

U.S. EXPORTS OF CHEMICALS AND RELATED PRODUCTS, JANUARY-MAY, 1962

(Thousands of dollars)

Group

Toluene Coal tar products and other cyclic chemical products

(excluding Special Category, Type 2) Medicinal and pharmaceutical preparations Chemical specialties Industrial chemicals Pigments, paints, and varnishes Fertilizer and fertilizer materials Dynamite Explosives, fuses, and blasting caps Soap and toilet preparations

Source: Bureau of the Census, U.S. Department of Commerce

January

290

14,702 21,119 56,340 24,535 7,987

14,277 282

1,381 1,669

February

1,809

14,407 22,474 57,543 21,382 8,555

13,718 160 515

1,776

March

390

13,146 21,813 68,160 26,558 9,500

10,160 626 719

1,943

April

1,150

12,668 25,085 64,914 26,693 8,645

16,200 63

653 2,287

May

1,790

15,322 22,761 64,270 26,215 8,120

13,598 422 698

2,009

January-May 1962

5,429

70,246 113,252 311,227 125,383 42,807 67,953

1,553 3,966 9,684

January-May 1961

2,636

70,608 115,572 294,960 125,156 44,153 50,130 1,288 3,311 9,665

38 C & E N S E P T . 3, 1962 P A R T 2

changes in traditional world trade pat­terns. If the U.K. joins the federation, the area will have a population of more than 250 million and will be an even more important market in which the U.S. has vital interests. Other EFTA nations also want some form of eco­nomic association with EEC. The Organization for Economic Coopera­tion and Development (OECD), an Atlantic community of 20 countries, including the United States and Canada, is working toward a 50% increase in the combined gross na­tional product of its members.

The U.S.S.R. is not in a position to launch a large, sustained export drive, but Soviet trade with some areas is growing. The bloc takes advantage in Latin America of exchange shortages and commodity surpluses, and growing trade with India is stimulated by that country's drastic exchange shortage.

U.S.S.R. trade with Western Europe also is greater, especially with the U.K. The Communist Chinese also have shown greater interest in trade with the West, which may increase if China's relations with the U.S.S.R.

worsen. Fertilizers have been a prin­cipal Communist Chinese import from Japan since trade with that country was resumed in 1960.

Outlook

The outlook is most favorable for the newer organics, specialty com­pounds, and plastics. New products entering the trade will compensate for displaced items and the consumer chemical market will grow rapidly. Canada, Western Europe, and Japan will be the big customers, but the emergence of new African nations and growing industrialization in Latin America and Asia will also greatly increase world demand for chemicals which is already potentially enormous. As the multilateral growth of interna­tional trade increases, more low-income countries will benefit and the imbalance between industrial nations and those producing primary com­modities will be reduced.

The combined efforts of Government and private enterprise are being di­rected toward increasing foreign trade

which contributes substantially to tne country's well-being. Many firms are expanding into global corporations which operate around the world. A number of small and medium sized firms also have entered foreign trade, but many more should be exporting. U.S. exporters have available to them many specialized marketing and dis­tribution techniques, including the greatly expanded export services of the Department of Commerce, as well as its trade missions, trade centers, and trade fairs, which constantly bring U.S. products to the attention of potential buyers everywhere.

The U.S. chemical industry may be approaching a $2 billion export goal and an immediate 5 to 10% annual increase in exports. It has great com* petitive strength internationally, de rived from heavy capital investment, efficient, large-scale production, highly skilled labor, technical leadership, and managerial competence. More foreign currencies are freely available, export credit and guarantee services are being strengthened, and efforts to eliminate trade barriers continue.

PLASTICS AND SYNTHETIC RESIN MATERIALS

EXPORTS AND IMPORTS

VALUE OF TRADE (In Millions of Dollars)

I B H Exports H H Imports

Source: U. S. Department of Commerce.

SOAP AND TOILET PREPARATIONS

INDUSTRIAL CHEMICALS

280

210

140

1947 '51 '58 '59 '60*61

Jlillll 1947 '51 '58 '59 '60 '61

COAL-TAR CHEMICALS

ill

175 Γ

140

105

70

35 I ι

CRUDE DRUGS AND BOTANICALS

40

I 30

20

10

1947 '51 ill '58 'i

1947 '51 '58 '59 '60 '61

MEDICINAL & PHARMACEUTICAL PREPARATIONS

250 I I

200

! 150

! ι

100 i I

50

1947 '51

CRUDE DRUGS AND BOTANICALS

40

I 30

20

10 1ft il il il

1947 '51 '58 '59 '60 »61

FERTILIZER MATERIALS

120 Γ­ι

80

I 1947 '51

40

'58 '59 '60 '61

S E P T . 3, 1962 P A R T 2 C & E N 47