Exporting is critical to the economic health, competitiveness and prospects of our region and represents a significant portion of the state’s economy. By selling goods and services internationally, small and medium-sized companies in the region can boost revenues and support local job growth.
Recent research shows that:
Illinois exports have increased by $23.87 billion since 2009 (57.3 percent) , outperforming the national average of 56 percent.
Illinois exports totaled over $65.49 billion in 2018.
More than 70 percent of the world’s purchasing power is located outside of the U.S., and over 95 percent of the world’s consumers live outside the U.S.
In 2016, exports from Illinois supported an estimated 325 thousand jobs.
Goods exports accounted for 7.6 percent of Illinois GDP in 2018.
In 2018, Canada, Mexico, China, Germany, and Australia were the leading destinations for Chicago area goods exports. Canada was the state’s largest market with merchandise exports of $17.73 billion, followed by Mexico ($10.19 billion), China ($3.46 billion), Germany ($3.30 billion), and Australia ($3.18 billion).
23,252 companies exported from Illinois in 2014, including 20,926 small and medium-sized companies with fewer than 500 employees; the number of small and medium-sized exporters is projected to increase due to global market demand.
- “Illinois in the International Marketplace,” Illinois Department of Commerce and Economic Opportunity, accessed on Feb. 25, 2020, https://www2.illinois.gov/dceo/SmallBizAssistance/Export/TradeFlyers/IL-InternationalMarketFlyer_2019-20.pdf
- “Economy & Trade,” Office of the United States Trade Representative, accessed on Feb. 25, 2020, https://ustr.gov/issue-areas/economy-trade
- “Illinois Trade Facts,” Office of the United States Trade Representative, accessed on Feb. 25, 2020, https://ustr.gov/map/state-benefits/il