The United States remains a very big destination for us, and always will be. It's the biggest, most dynamic economy on earth.
When we talk about small companies engaging in global supply chains, what we mean is that they find a link in some bigger company's global supply chain and earn that business. Often that would be in a U.S. multinational. So you may end up exporting to the United States, but that component ends up being in something that gets exported all around the world. So the diversification is probably much bigger than it looks, but right now it's still the case that over 80% of our goods exports go to the United States and only about 7% go to the emerging markets.
Exports to the U.S. last year went up by 1% and to emerging economies by 24%. So the race is not even close to being even. We know that the diversification will be an automatic process through time, but even after 20 years of this, we'll still be 60% dependent on the United States.