Exports Up 38.7 Percent Since 2009
WASHINGTON, Jan. 11, 2013 /PRNewswire-USNewswire/ -- The United States exported $182.6 billion in goods and services in November 2012, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.
"Exports create jobs, grow our economy, and increase American competitiveness," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Over the past year, U.S. companies have exported more than $2 trillion worth of goods and services, fueled by the power of American innovation. I am pleased that our numbers remain strong, but there is more work to be done. Here at the Bank, we will continue to provide small and medium-sized businesses with the tools they need to succeed globally as we work towards implementing the goals of President Obama's National Export Initiative."
Exports of goods and services over the past twelve months totaled $2.189 trillion, which is 38.7 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 11.9 percent when compared to 2009.
Among major export markets, the top ten buying countries with the largest annualized increase in purchases of U.S. goods were, when compared to 2009, Panama (32.1 percent), Chile (26.3 percent), Russia (25.3 percent), Argentina (23.9 percent), Peru (23.9 percent), Venezuela (22.9 percent), Turkey (22.7 percent), United Arab Emirates (22.5 percent), Hong Kong (20.1 percent), and South Africa (20.0 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.
SOURCE Export-Import Bank of the United States