Export-Import Bank of the United States | 2011 Annual Report

FY 2011 Highlights

Ex-Im Bank continues to play a critical role in responding to the global financial crisis. The ongoing contraction of liquidity in trade-finance activities combined with the increased demand for U.S. exports makes Ex-Im financing more critical than ever.

The rise in exports is a bright spot in the nation's economic recovery. The year-over-year rate of growth of U.S. exports of goods and services over the past three years has been approximately 17.1 percent – exceeding the pace needed to meet President Obama’s National Export Initiative (NEI) goal to double U.S. exports by 2015.

Contributing to this growth, Ex-Im-supported exports grew 20.3 percent in FY 2011 over FY 2010.

Total Ex-Im Financing

In FY 2011, Ex-Im Bank authorized a historic total of $32.7 billion to support U.S. exports – a 33.8 percent increase over authorizations for FY 2010. This is the highest level of authorizations in any fiscal year of the Bank’s 77-year history.

Ex-Im’s authorizations for 3,751 transactions will support an estimated
$41.3 billion of U.S. exports to markets worldwide.

Growth in Ex-Im Bank Authorizations

Growth in Ex-Im Bank Authorizations chart

Supporting U.S. Jobs

Ex-Im’s FY 2011 authorizations are supporting an estimated 288,000 American jobs at more than 3,600 U.S. companies.

Growth in Ex-Im-Supported U.S. Jobs

Growth in Ex-Im-Supported U.S. Jobs chart

Small Business

Despite tight credit markets, small businesses are taking advantage of the global market and selling billions of dollars of goods and services overseas every year. In fact, 70 percent of all exporters have fewer than 20 employees. (Source: U.S. Census Bureau)

To support this trend, in FY 2011 Ex-Im authorized more than $6 billion in financing and insurance for American small businesses – a record for the Bank. Small-business authorizations increased 19.5 percent compared to FY 2010 and nearly double the FY 2007 amount of $3.4 billion. This financing represents nearly 18.4 percent of total Ex-Im authorizations.

The Bank approved 3,247 transactions in FY 2011 that were made available to small-business exporters. These small-business transactions represented 87 percent of the total transactions.

Growth in Small-Business Authorizations

Growth in Small-Business Authorizations chart

Infrastructure

Significant growth of the middle class globally will result in an enormous
increase in infrastructure investments. Ex-Im Bank is helping U.S. exporters to realize the tremendous sales opportunities of this rising demand.

Ex-Im authorizations supporting exports to foreign infrastructure projects were $23 billion in FY 2011 – more than 70 percent of the Bank’s total authorizations and a 56.5 percent increase over FY 2010.

Consistent with World Bank and OECD definitions, infrastructure is defined by Ex-Im Bank to include the large physical networks necessary for the functioning of commerce (e.g., highways, railroads, power-generation plants, pipelines, satellites and radio-transmission systems), as well as goods and services required to maintain the health, cultural and social standards of a country or state (e.g., educational and healthcare equipment and services). Also included in the Bank’s definition of infrastructure are transportation vehicles, such as aircraft and locomotives, and equipment and services related to mining industries.

Key Markets and Industries

Ex-Im Bank’s record year in FY 2011 was fueled by the Bank’s growth in financing American-made goods and services to key emerging markets and key industries. Ex-Im’s nine key markets are Brazil, Colombia, India, Indonesia, Mexico, Nigeria, South Africa, Turkey and Vietnam. The Bank’s focus industries include satellites and other telecommunications equipment, solar panels and other renewable-energy products, commercial aircraft and avionics, locomotives and power-generation equipment.

In FY 2011, the Ex-Im Bank

Supported $15.6 billion of U.S. exports to its nine key markets – a more than 186 percent increase over the export value of its financing in these markets in FY 2010.

Authorized nearly $1.4 billion to support U.S. exports to Sub-Sahara Africa – exceeding the $1 billion mark for the first time and supporting 8 percent of all U.S. exports to this region.

Approved $3.7 billion to finance exports to Colombia – representing 34 percent of all U.S. exports to this country in FY 2011.

Supported U.S.-made aircraft of all types through total authorizations of more than $12.6 billion. The Bank increased its support for large commercial aircraft from $7.2 billion in FY 2010 to $10.8 billion in FY 2011.

More than doubled authorizations for exports related to renewable energy to $721 million in FY 2011 from $331 million in FY 2010. The Bank’s support for these exports had tripled between FY 2009 and FY 2010.

More Customers in More Countries

In order to increase U.S. exports, Ex-Im Bank is focused on directing its financing to enable more customers to export to more countries around the globe.

	FY 2011
	Number of Countries	Ex-Im-Supported U.S. Companies

	1-5 Countries	73%
	6-25 Countries	24%
	26-100 Countries	3%

From FY 2010 to FY 2011, there was a 7 percent increase in the number of companies that used Ex-Im financing to export to six or more countries.

In FY 2011, there was a 26 percent increase from FY 2010 in the number of U.S. companies that exported their products to new markets.