U.S. Exports of Goods and Services in August Exceed $189 Billion; Last 12 Month's Exports Total $2.2 Trillion, 42 Percent Above 2009
WASHINGTON, Oct. 24, 2013 /PRNewswire-USNewswire/ -- In August 2013 the United States exported $189.2 billion of goods and services, slightly lower than July's exports of $189.3 billion. August's exports are marginally lower than June's all-time record high of $190.5 billion, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.
Exports of goods and services over the last twelve months totaled $2.2 trillion, which is 42.2 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 10.1 percent when compared to 2009.
"Our exporters continue to drive the U.S. economy and employ more American workers in high-paying, skilled export-related jobs, especially in the manufacturing sector," said Fred P. Hochberg, chairman and president of the Export-Import Bank of the United States (Ex-Im Bank). "Every month brings us closer toward achieving President Obama's ambitious goal of doubling U.S. exports by 2015."
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 (28.8 percent), Russia (22.0 percent), United Arab Emirates (21.2 percent), Peru (20.9 percent), Hong Kong (20.4 percent), Chile (20.3 percent), Columbia (19.3 percent), Argentina (17.8 percent), Ecuador (17.6 percent), and South Africa (17.5 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. This week Ex-Im sent the U.S. Treasury $1 billion, which represents the Bank's earnings from fees and interest, after subtracting all operating costs and claims, in the fiscal year that ended September 30.
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.
SOURCE Export-Import Bank of the United States