Exports During Past Year Hit $2.2 Trillion
FOR IMMEDIATE RELEASE April 8, 2013
Phil Cogan, (202) 565-3200
WASHINGTON, D.C. — The United States exported $186.0 billion of goods and services in February 2013, an increase from January's exports of $184.4 billion, according to data released Friday by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.
The many successful small- and mid-sized businesses attending last week's Ex-Im annual conference demonstrated that growing sales and profits in today's global economy is possible by selling to the 95 percent of the world's customers located outside the United States, said Ex-Im Bank Chairman and President Fred P. Hochberg. Export growth remains a vital component of the nation's economic recovery, and Ex-Im will continue to provide export credit support to American entrepreneurs as they expand their reach to buyers outside our borders.
Hochberg noted that during the first six months of FY 2013 Ex-Im Bank export credit authorizations were strong, amounting to $14.8 billion, supporting over 100,000 U.S. jobs and exceeding the Bank's authorizations in all of 2008.
U.S. exports of goods and services over the last twelve months totaled $2.2 trillion, which is 39.7 percent above the level of exports in 2009.Over the last twelve months, exports have been growing at an annualized rate of 11.1 percent when compared to 2009.
Over the last twelve 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 (31.8 percent), Russia (25.1 percent), Chile (24.4 percent), United Arab Emirates (23.6 percent), Peru (23.4 percent), Venezuela (22.5 percent), Argentina (21.9 percent), Hong Kong (20.6 percent), Colombia (20.7 percent), and Turkey (20.3 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. The Bank operates regional export finance centers in major cities around the U.S.
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.