The State of Washington's modern infrastructure system and geographical position, equidistant between Europe and Asia, puts it in an ideal position to take advantage of the globalization and growing interdependence of the world economy. In today's global economy, international trade is increasingly becoming the engine of growth for economic development around the world. In view of this dramatic shift at the national level, it comes as no surprise that international trade also has become more and more important to the economic well-being of Washington State over the last three decades. In fact, the State of Washington is the most trade-oriented state in America. Washington State is home to the United State's largest exporter, the Boeing Company, as well as thousands of smaller business.
Exports also have a profound impact on employment in our state.
In addition to accounting for thousands of manufacturing jobs, international trade indirectly provides thousands of jobs in banking, insurance, law, accounting, transportation, and distribution. In 1998, one out of every three jobs in Washington State was directly or indirectly related to exports. By comparison, in 1963, exports accounted for one out of every nine jobs. In the future, international trade will continue to grow in importance as worldwide demand among developing countries grows and market barriers fall as a result of the implementation of bilateral, multilateral and regional trade agreements. The growth of international trade in Washington State over the last 8 years, as shown in the following graph, is evidence of the strength and capability of the trade services provided in the state.