U.S. Exports Reach $2.3 Trillion in 2013
For Fourth Consecutive Year, U.S. Sets Export Record
WASHINGTON, Feb. 6, 2014 /PRNewswire-USNewswire/ -- The United States has set another annual record for the fourth consecutive year by exporting $2.3 trillion in goods and services in 2013, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.
The data also reveals that U.S. exports supported nearly 10 million American jobs in 2013.
In December, the U.S. exported $191.3 billion of goods and services.
"As the numbers prove, American entrepreneurs will continue to outperform their competitors in the global marketplace, as long as they are given a level playing field," said Export-Import Bank Chairman and President Fred P. Hochberg. "Under the strategic direction established by President Obama's National Export Initiative, we continue to export more goods at a record pace. By exporting $2.3 trillion in U.S. goods and services and supporting 10 million American jobs, America's exporters continue to make critical contributions to our economy."
Exports of goods and services over the last twelve months totaled $2.3 trillion, which is 44.0 percent above the level of exports in 2009. During the same timeframe, exports have been growing at an annualized rate of 9.5 percent when compared to 2009. 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 (25.9 percent), Russia (20.3 percent), Peru (19.6 percent), Hong Kong (19.2 percent), United Arab Emirates (19.1 percent), Colombia (18.5 percent), Chile (17.1 percent), Ecuador (16.8 percent), Argentina (16.3 percent), and Indonesia (15.5 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.
SOURCE Export-Import Bank of the United States