From the Wires
U.S. Exports Reach $180.5 Billion in October
By: PR Newswire
Dec. 11, 2012 05:18 PM
WASHINGTON, Dec. 11, 2012 /PRNewswire-USNewswire/ -- The United States exported $180.5 billion in goods and services in October 2012, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.
"President Obama's National Export Initiative has helped create or sustain high-quality jobs and put Americans back to work," said Ex-Im Bank Chairman and President Fred P. Hochberg. "While today's numbers show that there is more work to be done, the Bank will continue to level the playing field by ensuring that U.S. companies can compete globally and that small and medium-sized business owners have access to export financing."
Exports of goods and services over the past twelve months totaled $2.183 trillion, which is 38.3 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 12.1 percent when compared to 2009.
In September of this year, the U.S. recorded exports of $ 187.3 billion, an all-time record high.
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 (32.9 percent), Chile (26.6 percent), Argentina (24.9 percent), Peru (24.7 percent), Russia (24.4 percent), Turkey (23.5 percent), Venezuela (22.4 percent), United Arab Emirates (22.0 percent), Hong Kong (20.9 percent), and South Africa (20.6 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 $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
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