Sunday, July 21, 2024

Top 5 This Week

Related Posts

Alibaba Group Holding Limited has underscored its role in supporting the U.S. economy through a new report.

The study, conducted by NDP Analytics and commissioned by Alibaba, quantifies the economic benefits derived from U.S. companies using Alibaba’s platforms to engage in cross-border trade, especially with China.

According to the report, sales of U.S. products on Alibaba’s online marketplaces to Chinese consumers reached $66.2 billion in 2022. This figure marks a significant increase from $44.9 billion in 2019, showing a growth of 47.4%. These transactions have contributed $52.9 billion to the U.S. Gross Domestic Product (GDP) and supported over 403,000 jobs across the country.

The rise in sales has fostered employment in various U.S. regions: in the Pacific region, which includes states like California and Washington, 117,270 jobs were created. It was followed by the South Atlantic division, stretching from Washington D.C. to Florida, with 52,693 new jobs. The report also highlights the crucial role of small businesses, which, with fewer than 100 employees, generated $6.7 billion in sales, representing 13.5% of U.S. brand sales on Alibaba’s platforms.

The positive impact of Alibaba’s trade facilitation extends beyond direct sales and job creation. The report details significant indirect benefits, such as $41.3 billion in additional production for supply chain businesses and support for 232,044 jobs in related industries and communities.

Eric Pelletier, Alibaba Group’s Director of International Government Affairs, emphasized the company’s commitment to innovation and providing solutions to help U.S. businesses expand their global reach. Alibaba’s mission, “to make it easy to do business anywhere,” reflects its dedication to enabling companies of all sizes access to international markets, particularly the burgeoning Chinese consumer market.

The data in the report comes from Alibaba’s platforms, including Taobao Global and Tmall, and has been corroborated with official sector statistics and economic multipliers from U.S. government agencies. This report is based on a press release and aims to present a balanced view of Alibaba’s economic contributions without endorsing the company’s claims.

Popular Articles