U.S. Exports Hit $180.4 Billion in September, An All-time High
WASHINGTON, D.C. - The United States exported $180.4 billion in goods and services in September 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 $2.052 trillion, which is 30.3 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 16.3 percent when compared to 2009, a pace greater than the 15 percent required to double exports by the end of 2014.
Coming off a record-setting year, the Bank continues to have strong demand for Ex-Im products, said Fred P. Hochberg, chairman and president of the Export-Import Bank of the United States. Increasing U.S. exports creates and sustains American jobs, and it is an important part of our economic recovery. There are enormous opportunities for American companies to sell their products overseas, and we must encourage our nation's business owners to enter these untapped markets.
Over the last twelve months, the major export markets with the largest annualized increase in U.S. goods purchases were Turkey (49.9 percent), Panama (40.1 percent), Argentina (35.2 percent), Peru (31.5 percent), Hong Kong (31.1 percent), Thailand (30.5 percent), Brazil (30.0 percent), South Africa (29.4 percent), Chile (28.0 percent), and China (25.5 percent).
Furthering U.S. export growth, Ex-Im Bank approved more than $32 billion in total authorizations in FY 2011.This total includes more than $6 billion directly supporting small-business export sales. Ex-Im Bank's total authorizations are supporting more than $40 billion in U.S. export sales and an estimated 300,000 American jobs in communities across the country.
About Export-Import 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. The Bank is a self-sustaining agency that receives no net appropriation from the U.S. Congress and charges interest and fees to fund its transactions.
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 more than $32 billion in total authorizations in FY 2011 - an all-time Ex-Im record. This total includes more than $6 billion directly supporting small-business export sales — also an Ex-Im record. Ex-Im Bank's authorizations are supporting more than $40 billion in U.S. export sales and an estimated 300,000 American jobs in communities across the country. For more information, visit http://www.exim.gov.