U.S. Exports Hit More Than $170 Billion in June
WASHINGTON, D.C. - The United States exported $170.9 billion in goods and services in June 2011, 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 $1.978 trillion, which is 25.6 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 16.4 percent when compared to 2009, a pace greater than the 15 percent required to double exports by the end of 2014, which is the goal of President Obama's National Export Initiative (NEI).
Also contributing to U.S. export growth, the Export-Import Bank of the United States (Ex-Im Bank) has approved more than $24.5 billion in total authorizations in FY2011 through August 4, 2011, an all-time record for the Bank. This total included 2,548 U.S. small-business transactions. The Bank's FY2011 authorizations to date represent a 70 percent increase over its FY2008 total of $14.4 billion. Ex-Im Bank's authorizations through August 4th will support $31.5 billion in U.S. export sales and approximately 213,000 American jobs in communities across the country.
U.S. exports play a key role in boosting our economy and encouraging job creation and growth, said Fred P. Hochberg, chairman and president of the Export-Import Bank. In these difficult economic times, it is critical that our small business owners take advantage of every opportunity to increase sales by competing in the global marketplace. I am pleased that our export numbers remain strong, and Ex-Im Bank is committed to helping President Obama reach his goal of doubling U.S. exports by the end of 2014.
Over the last twelve months, 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 Turkey (52.8 percent), South Africa (37.1 percent), Peru (35.1 percent), Argentina (34.0 percent), Panama (33.5 percent), Brazil (31.4 percent), Taiwan (30.4 percent), Thailand (29.6 percent), Indonesia (29.2 percent), and Hong Kong (29.2 percent).
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