Key Export Indicator Hits an All-Time High
With the economy surging, a record month for ATA Carnets
New York, N.Y., November 19, 2003
– In another sign of the surging U.S. economy, an important leading indicator of U.S. exports registered its best month ever in October, as issuance of ATA Carnets hit an all-time high, according to the United States Council for International Business (USCIB).
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Often called “merchandise passports,” Carnets are internationally recognized customs documents for temporary duty-free import of commercial samples, professional equipment and goods displayed at trade shows. Companies around the world use them to reduce costs and speed global operations.
USCIB said U.S. exporters took out 1,531 Carnets in October, the highest monthly figure ever recorded, and nearly 20 percent higher than the comparable figure in 2002. (Click here to view a chart with monthly figures for Carnet usage in 2003.)
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Networking equipment makers helped lead a surge in Carnet usage
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“We are seeing an upsurge in international activity across the board as the economy improves,” said Cynthia Duncan, vice president for Carnet operations with USCIB, which issues ATA Carnets and oversees the system in the United States. “Networking equipment, aviation, jewelry and testing equipment were among the leading categories. Broadcast media and performing artists also registered strong growth.”
While always subject to normal seasonal fluctuations, Carnet usage has seesawed dramatically this year as the result of the war in Iraq and the SARS epidemic. But Ms. Duncan said that, even before the record numbers, there were clear signs of an export resurgence.
"Carnets are an indicator of current as well as future export activity,” observed Ms. Duncan. “For instance, they represent current export activity in the form of film shoots and orchestra and band tours, and future exports when goods are sent to overseas demonstrations, and as commercial samples. So the indications for overall growth of trade are positive.”
Carnets are accepted in over 75 countries and can be used for multiple trips during a one-year period. The global Carnet system is overseen by the Paris-based International Chamber of Commerce. USCIB administers the ATA Carnet system in the United States, working with its Carnet service providers, Roanoke Trade Services, Inc. and the Corporation for International Business.
USCIB promotes an open system of world trade, finance and investment. Its membership includes some 300 leading U.S. companies, professional services firms and associations whose combined annual revenues exceed $3 trillion. With a unique network of affiliations to international business groups, USCIB facilitates international trade by issuing and guaranteeing ATA Carnets, and by promoting international cooperation in such areas as customs policies and commercial dispute resolution.
Contact:
Cynthia Duncan, VP of Carnet Operations, USCIB
(212) 703-5079 or cduncan@uscib.org
Chart on Carnet usage for 2003 (through October)
More on USCIB’s ATA Carnet Export Service
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