FOR IMMEDIATE RELEASE February 8, 2013
Linda Formella, (202) 565-3200
WASHINGTON, D.C. — The United States exported $186.4 billion in goods and services in December 2012, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.
U.S. exports of goods and services in 2012 reached a record annual total of nearly $2.2 trillion ($2.195 trillion), which is 39.1 percent above the level of exports in 2009. Over the past 12 months, exports have been growing at an annualized rate of 11.6 percent when compared to 2009.
Today's record-breaking numbers show that U.S. exports in 2012 continued on a historic path of growth, said Ex-Im Bank Chairman and President Fred P. Hochberg. Thanks to the hard work and ingenuity of our exporters, America is making steady progress towards meeting President Obama's National Export Initiative goal of doubling exports. Over the past year, U.S. companies big and small have exported almost $2.2 trillion worth of goods and services, fueled by the power of American innovation.
But we cannot stop here. More can and must be done to increase international sales and create jobs in the United States. Through our nationwide Global Access for Small Business initiative, Ex-Im Bank is reaching out locally to more small and medium-sized businesses to provide them with the export financing and training they need to succeed globally, Hochberg said.
Over the last 12 months, among the major export markets (i.e., markets with at least $6 billion in annual imports of U.S. goods), the countries with the largest annualized increase in U.S. goods purchases, when compared to 2009, occurred in Panama (52.0 percent), Chile (42.2 percent), Russia (41.4 percent), Peru (37.9 percent), Venezuela (37.6 percent), Argentina (36.2 percent), United Arab Emirates (36.0 percent), Hong Kong (33.4 percent), Turkey (32.9 percent) and Columbia (31.7 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 (from Fiscal Year 2008), Ex-Im Bank has earned for U.S. taxpayers nearly $1.6 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 nearly $35.8 billion in total authorizations in FY 2012 - an all-time Ex-Im record. This total includes more than $6.1 billion directly supporting small-business export sales - also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $50 billion in U.S. export sales and approximately 255,000 American jobs in communities across the country. For more information, visit www.exim.gov.