Features: South Carolina's Globalized Economy

Matthew Wells
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Matthew Wells: https://www.richmondfed.org/research/people/wells

Econ Focus, 2025, vol. 25, issue Q3

Abstract: A great deal of that wealth and growth — not just in Greenville, but across much of South Carolina — is the result of international trade, as these firms and others buy parts and supplies from abroad and sell many of their finished products on the international market. In 2024, for example, South Carolina exported $38 billion in goods, accounting for 11.6 percent of the Palmetto State's GDP. Manufactured products made up nearly all of that total ($37.2 billion). Foreign companies aren't the only active exporters: A total of 6,261 companies in the Palmetto State sent products abroad in 2023, and 84 percent of them were small- and medium-sized companies with fewer than 500 employees.

Keywords: trade and international economics; economic growth; employment and labor markets; production and investment (search for similar items in EconPapers)
Date: 2025
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