gvA Update

The African Growth and Opportunity Act (AGOA) The African Growth and Opportunity Act (AGOA) was signed into law by President Clinton in May 2000 with the objective of expanding U.S. trade and investment with sub-Saharan Africa, to stimulate economic growth, and help facilitate sub-Saharan Africa's integration into the global economy. AGOA along with the so called Generalized System of Preferences (GSP), allow virtually all marketable goods produced in AGOA-eligible countries to enter the U.S. market duty-free. However, U.S. imports from AGOA countries represent a small share of overall U.S. imports. In 2014 for example, the United States imported $2,314 billion in goods, of which only $25.6 billion, slightly more than 1%, came from AGOA countries. U.S. apparel imports under AGOA, also represent only 1% of overall U.S. apparel imports. U.S. apparel imports totaled $82.7 billion in 2014, with $30.7 billion from China, $9.2 billion from Vietnam, and less than $1 billion total from AGOA beneficiaries. In this connection, 1- From which of the following countries did the United States import the largest amount of apparel in 2014? 1. China, 2. Mexico, 3. Indonesia and 4. Vietnam. 2- From which of the following African (AGOA) countries did the United States import the largest amount of apparel in 2014? 1. Mauritius, 2. Kenya, 3. Lesotho and 4. Swaziland. Stay with us for our answers coming up shortly. ANSWERS 1- China, shipping over $30 billion of apparel into the United States 2014 represents the country from which the US imported the largest amount of the product from in that year. 2- Kenya, exporting about $379 million of apparel into the US in 2014 is the African country from which the United States imported the largest amount of the product in that year.

 

Posted: Dec 15th, 2016 @ 08:18:55 AM