U.S. Exports Hit More than $178.8 Billion in December
WASHINGTON, D.C. - The United States exported $178.8 billion in goods and services in December 2011, an increase of $1 billion over November 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 $2.103 trillion, which is 33.53 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 15.6 percent when compared to 2009, a pace greater than the 15 percent required to double exports by the end of 2014.
U.S. exports play an essential role in our economic recovery, and it's vital that we provide American business owners with the resources they need to compete in a 21st century global economy, said Fred P. Hochberg, chairman and president of the Export-Import Bank of the United States (Ex-Im Bank). Ex-Im Bank remains committed to reaching new customers and to helping level the playing field for our nation's exporters.
Over the last twelve months, the major export markets with the largest annualized increase in U.S. goods purchases were Turkey (43.6 percent), Panama (38.6 percent), Honduras (35.0 percent), Argentina (33.2 percent), Hong Kong (31.7 percent), Chile (30.3 percent), Peru (30.0 percent), Brazil (28.3 percent), South Africa (28.0 percent), and Guatemala (26.6 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 six years, Ex-Im Bank has earned for U.S. taxpayers $3.7 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 $32.7 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 total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country. For more information, visit www.exim.gov.