Export-Import Bank Financing Support Helps Create American Jobs
FOR IMMEDIATE RELEASE July 3, 2014
Lawton King (202-565-3200)
Washington, D.C. - The United States exported $195.5 billion of goods and services in May 2014, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.
The numbers show that the world's consumers continue to value U.S. goods and services for their quality and reliability, said Export-Import Bank Chairman and President Fred P. Hochberg. Given a level playing field, U.S. exporters can compete with anyone in the world, and Ex-Im Bank is proud to support them abroad as they support jobs here at home.
Exports of goods and services over the last twelve months totaled $2.3 trillion, which is 45.7 percent above the level of exports in 2009, and have been growing at an annualized rate of 8.9 percent when compared to 2009.
During the same time period 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, were Panama (22.5 percent), Russia (19.6 percent), Peru (17.9 percent), Colombia (17.4 percent), Ecuador (17.3 percent), Hong Kong (17.3 percent), Argentina (16.3 percent), Nigeria (15.1 percent), Chile (14.8 percent) and Indonesia (14.6 percent).
ABOUT EX-IM BANK:
Ex-Im Bank is an independent federal agency that creates 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, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services. In the past fiscal year alone, Ex-Im Bank earned for U.S. taxpayers more than $1 billion above the cost of operations.
In FY 2013, Ex-Im Bank approved more than $27 billion in total authorizations to support an estimated $37.4 billion in U.S. export sales and approximately 205,000 American jobs in communities across the country. For the year, the Bank approved a record 3,413 transactions-- or 89 percent--for small-businesses. Small business exporters can learn about how Ex-Im Bank products can help them increase foreign sales at http://go.usa.gov/ZVTd. For other information about Ex-Im, visit www.exim.gov.