NEW YORK - Alibaba (NYSE:BABA) Group Holding Limited (NYSE: BABA and HKEX: 9988 and 89988), a global e-commerce giant, has underscored its role in supporting the American economy through a new report. The study, conducted by NDP Analytics and commissioned by Alibaba, quantifies the economic benefits derived from U.S. businesses using Alibaba's platforms to engage in cross-border trade, particularly with China.
According to the report, sales of American products on Alibaba's online marketplaces to Chinese consumers reached $66.2 billion in 2022. This figure marks a significant increase from 2019's $44.9 billion, showcasing 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 surge in sales has been a boon for employment in various regions of the U.S., with the Pacific region, including states like California and Washington, seeing the creation of 117,270 jobs. The South Atlantic division, extending from Washington, D.C. to Florida, followed with 52,693 new jobs. The report also highlights the substantial role of small businesses, which, with fewer than 100 employees, generated $6.7 billion in sales, accounting for 13.5% of U.S. brand sales on Alibaba platforms.
The positive impact of Alibaba's trade facilitation extends beyond direct sales and job creation. The report details significant indirect benefits, such as the $41.3 billion in additional output for companies in the supply chain and the support of 232,044 jobs in related industries and communities.
Eric Pelletier, Head of International Government Affairs at Alibaba Group, emphasized the company's commitment to innovating and providing solutions to aid U.S. businesses in expanding their global reach. Alibaba's mission, "to make it easy to do business anywhere," reflects its dedication to empowering businesses of all sizes to tap into international markets, particularly the burgeoning Chinese consumer market.
The data for the report was sourced from Alibaba's platforms, including Taobao Global and Tmall, and corroborated with official industry statistics and economic multipliers from U.S. governmental agencies. This report is based on a press release statement and aims to present a balanced view of Alibaba's economic contributions without endorsing the company's claims.
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