Ex-Im Bank Breaks All-Time Record in Authorizations
WASHINGTON, Sept. 8, 2011 /PRNewswire-USNewswire/ -- The United States exported $178 billion in goods and services in July 2011, an all-time high, 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 $2.005 trillion, which is 27.3 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 16.5 percent when compared to 2009, a pace greater than the 15 percent required to double exports by the end of 2014.
"Exports are a bright spot in our economic recovery, and it is critical that we encourage more American companies to compete in international markets," said Hochberg. "I am pleased that U.S. exports are at an all-time high, and Ex-Im Bank is continuing to create and sustain U.S. jobs through our export financing products."
Over the last twelve months, the major export markets with the largest annualized increase in U.S. goods purchases were Turkey (51.0 percent), Panama (36.3 percent), South Africa (36.1 percent), Argentina (35.1), Peru (33.8 percent), Brazil (30.2 percent), Thailand (29.0 percent), Hong Kong (28.8 percent), Taiwan (28.5), and Egypt (26.8).
Furthering U.S. export growth, the Export-Import Bank of the United States (Ex-Im Bank) has approved approximately $25 billion in total authorizations in FY2011 YTD – an all-time record. This total included more than 2,500 U.S. small-business transactions. Ex-Im Bank's authorizations through August 2011 are supporting more than $30 billion in U.S. export sales and approximately 213,000 American jobs in communities across the country.
Ex-Im Bank, an independent, self-sustaining federal agency, helps create and maintain American jobs by filling gaps in export financing and strengthening U.S. export competitiveness. The Bank has generated $3.4 billion for U.S. taxpayers over the past 5 years. www.exim.gov
SOURCE Export-Import Bank of the United States