Supports more than 200,000 U.S. Jobs, Record Number of Small Businesses Reached
FOR IMMEDIATE RELEASE December 13, 2013
Jamie Radice (202-565-3200)
Washington, DC - In Fiscal Year 2013 (FY'13) results released today, the Export-Import Bank of the United States (Ex-Im Bank) unveiled its annual numbers highlighting its approval of more than $27 billion in authorizations, which supported approximately 205,000 American jobs in communities across the country.
This year American businesses exported a record $2.3 trillion worth of goods and services, and Ex-Im Bank played a key role in that success, said Ex-Im Bank Chairman and President Fred P. Hochberg. Over the past five years, Ex-Im Bank has created or sustained an estimated 1.2 million American jobs - including 205,000 jobs in FY'13 alone. The Bank is a great example of government operating at the speed of business. I would like to thank the dedicated Ex-Im Bank staff who help our nation's businessesbig and small remain globally competitive.
Ex-Im Bank worked with more than 3,400 small businesses (89 percent of all transactions) - making it the highest number of small business deals in the Bank's history. As part of its efforts to increase this portfolio, Ex-Im Bank has hosted more than 60 Global Access for Small Business forums across the country since launching the program in January 2011.
Ex-Im financing created or supported an estimated 205,000 export-related U.S. jobs.
In FY'13, Ex-Im Bank authorized financing for a record high 3,842 export transactions, which totaled an estimated export value of $37.4 billion.
In FY'13, Ex-Im Bank approved 3,413 small-business authorizations - the highest number of small-business authorizations in the Bank's history.
In the last five years (FY'09 to FY'13), Ex-Im Bank has assisted in financing more than $188 billion of U.S. exports and supported 1.2 million American jobs.
Manufacturing was the industry with the highest authorized amount at $8.4 billion, surpassing Aircraft for the first time since 1997.
A full picture of Ex-Im Bank's activities will be outlined in its 2013 Annual Report, which will be available next week at www.exim.gov.
About Ex-Im Bank
Ex-Im Bank is an independent federal agency that helps create and maintain 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, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services. The Bank receives no net appropriation from the U.S. Congress and charges interest and fees to fund its transactions. This past fiscal year, Ex-Im earned for U.S. taxpayers $1 billion above the cost of all operations.