U.S. Exports Support a Record 11.3 Million Jobs in 2013
WASHINGTON, Feb. 25, 2014 /PRNewswire/ -- Today the Department of Commerce announced that U.S. exports supported more than 11.3 million jobs in 2013, up 1.6 million jobs since 2009. In FY 2013, the Export-Import Bank supported an estimated 205,000 jobs.
According to the data in the report, exports now support more jobs than any time in the past 20 years.
"The job counts published today reveal just how important exports are to American jobs," said Export-Import Bank Chairman and President Fred P. Hochberg. "That is why at Ex-Im Bank we continue to stand side-by-side with American exporters and help them fill orders abroad. In FY 2013 alone, our institution supported an estimated $37.4 billion in U.S. export sales and approximately 205,000 American jobs."
In 2013, every $1 billion of U.S. exports supported nearly 5,600 jobs. Goods exports supported 7.1 million jobs in 2013, up 1.1 million positions from 2009. Services exports supported 4.2 million jobs in 2013, which is a record for the noted 20 year period.
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