Ex-Im Bank Authorizes More than $23.7 billion in first nine months of FY'12
FOR IMMEDIATE RELEASE July 11, 2012
Jamie Radice (202-565-3200)
Washington, D.C. - The United States exported $183.1 billion in goods and services in May 2012, according to data released today by the U.S. Commerce Department. The all-time high of $184.4 billion was recorded in March 2012. Preliminary data shows that Ex-Im Bank authorized more than $23.7 billion in authorizations during the first nine months of Fiscal Year 2012.
U.S. exports have exceeded $180 billion every month this year, said Fred P. Hochberg, chairman and president of Ex-Im Bank. Exports remain a true bright spot in our economic recovery and are instrumental in creating and sustaining American jobs.
Exports of goods and services over the last twelve months totaled $2.152 trillion, which is 36.3 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 13.7 percent when compared to 2009.
Over the last twelve months, the major export markets with the largest annualized increase in U.S. goods purchases were Panama (37.5 percent), Turkey (31.5 percent), Argentina (30.1 percent), Chile (29.1 percent), Hong Kong (29.0 percent), Honduras (27.8 percent), Peru (26.3 percent), Russia (26.2 percent), Brazil (23.5 percent), and Ecuador (22.7 percent).
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. In the past five years, Ex-Im Bank has earned for U.S. taxpayers $1.9 billion above the cost of operations. 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.
Ex-Im Bank approved $32.7 billion in total authorizations in FY 2011 -- an all-time Ex-Im record. This total includes more than $6 billion directly supporting small-business export sales -- also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country. For more information, visit www.exim.gov.