News on 06 May 2008 11:14:47

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Michigan’s Economic Strength Can Grow With Globalization

And so can your business.

Michigan’s exports to Germany are in a three-way tie with those to China and Japan. Each of these three countries accounts for $1.3 billion in export revenue for the state. Michigan's leading export category to Germany is transportation equipment, which alone accounted for 52 percent, or $23.2 billion, of Michigan's exports in 2007. Michigan’s exports to Germany increased more than 15 percent between 2005 and 2006 according to the Michigan District Export Council.

Is your business doing business with Germany? Could it? You don’t have to have a transportation-related product to be well suited for the German import market. Much of the information you need to find out about exporting to Germany is located on www.buyusa.gov. Here you can determine if you have products or services that are in demand in Germany. If you do, you can also find out some of the details of what is required to begin exporting to Germany.

Thousands of Michigan businesses have benefited from globalization. In fact, more than 10,000 companies exported goods from Michigan in 2006, according to the International Trade Administration and Bureau of the Census, Foreign Trade Division: Exporter Database. Of those, 89 percent were small and medium-sized enterprises with fewer than 500 employees.

The German market for electronic components is expected to grow 8.7% (based on USD value) in 2007, reaching a volume of USD 25.7 billion. Prime end-user sectors for electronic components are the automotive industry (37%), data processing (23%), industrial electronics (19%), telecommunications (17%), and consumer electronics (4%).

When compared to the other US states, Michigan currently ranks 11^th in consumer electronics exports at $250 million, 14^th in industrial electronics exports at $881 million and 17^th in electronic component exports at $244 million, according to the American Electronics Association. Strong prospects for electronics exports to Germany include motor management, security and infotainment. On a smaller level, there is also a demand for data processing, data storage and infrastructure for mobile networks.

So what are you waiting for? Your business may have huge untapped potential for global growth. It is time to review your goods and service and see if Germany could be a prime export target. Review your website and other marketing materials, then call us, we can assist you in helping your business go global.

Bromberg & Associates Translation Agency is a full-range language service provider, DBE and WBE certified business, and GSA Federal Supply Schedule Award holder. The services offered cover all areas of the language industry: translation; interpretation (consecutive and simultaneous); web site translation and localization; multilingual desktop publishing and video production; language training; cultural training; interpreter training and performance evaluation. The company works with over 60 languages locally and 150 languages worldwide.