Export-Import Bank Chairman Fred P. Hochberg Statement on the Release of Export Data from the Commerce Department
Washington, D.C. - Ex-Im Bank Chairman and President Fred P. Hochberg issued the following statement with respect to August's record-high export data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department. According to BEA, the United States exported $198.5 billion of goods and services in August 2014, the highest mark for any month ever recorded.
“These numbers are another clear demonstration that the global demand for products stamped 'Made in America' continues to grow. Ex-Im Bank is proud to support U.S. exporters and their workers as they expand their sales in the global marketplace, and create quality, middle class jobs here at home.”
Exports of goods and services over the last twelve months totaled $2.3 trillion, which is 47.1 percent above 2009 levels, and have been growing at an annualized rate of 8.6 percent over the last five years.
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. In fiscal year 2013, Ex-Im Bank generated more than $1 billion for U.S. taxpayers whilea pproving more than $27 billion in total authorizations. These authorizations supported an estimated $37.4 billion in U.S. export sales, and approximately 205,000 American jobs in communities across the country. Small business exporters can learn about how Ex-Im Bank products can empower them to increase foreign sales at http://go.usa.gov/ZVTd. For more information about Ex-Im, visit www.exim.gov.