U.S. Sets Record for Fifth Consecutive Year
FOR IMMEDIATE RELEASE February 5, 2015
Office of Communications (202-565-3200)
Washington, D.C. - Ex-Im Bank Chairman and President Fred P. Hochberg issued the following statement with respect to the FY 2014 export data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department. According to BEA, the United States exported a record $2.345 trillion of goods and services in FY 2014, which represents a 2.9 percent increase and a record high for the fifth consecutive year.
In December, the United States exported $194.9 billion of goods and services. This figure represents a decrease from November's $196.4 billion exports total, which was revised slightly upward.
These export numbers are a testament to the quality and innovation of American goods and services, but they don't mean we can rest on our laurels, said Ex-Im Bank Chairman and President Fred P. Hochberg. The thousands of U.S. businesses, small and large, that count on Ex-Im Bank being there to support them to win export sales and add good-paying jobs here in America can't afford an unforced error that would threaten the positive momentum demonstrated by today's news.
ABOUT EX-IM BANK:
Ex-Im Bank is an independent federal agency that supports and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees and export credit insurance, to promote the sale of U.S. goods and services abroad. Ninety percent of its transactions directly serve American small businesses.
In fiscal year 2014, Ex-Im Bank approved $20.5 billion in total authorizations. These authorizations supported an estimated $27.5 billion in U.S. export sales, as well as approximately 164,000 American jobs in communities across the country.