SPOKANE (Scrap Monster): According to Institute of Scrap Recycling Industries (ISRI), the scrap exports by the US play a key role in world trade. Scrap materials are one among the top five export products by volume in the country. It not only plays an important role in boosting US economy, but also ensures that commodities of all categories are supplied to all corners of the world.
The US exported commodity-grade scrap to nearly 160 countries worldwide in 2013. These exports generated nearly U$ 24 billion in export sales and contributed much to the economy by helping to maintain healthy Balance Of Trade (BOT). The scrap exports by the country generated total tax revenue of $3.5 billion. According to Robin Wiener, President, ISRI, the country exports almost 30-40% of scrap every year.
As per ISRI estimates, recycling industry in the country employed nearly 460,000 persons in 2013. Out of which nearly 185,000 were found involved with scrap export related activities. This constitutes almost 40% of the manpower in the country’s recycling sector. ISRI notes that 56,000 were involved in the processing and brokering of materials, 52,000 in the supply of materials, machinery or services to processors and 76,000 in the supply of general goods and services to those working in the industry.
The scrap exports have not only benefited the US economy, but the entire world. It has led to safe recycling practices being shared between global nations. It also has opened up responsible recycling facilities across the globe, which in turn has created hundreds of thousands of job opportunities. It also has helped developing nations to gain access to used electronic devices that would not have been made available otherwise.