Export-Import Bank Chairman Fred P. Hochberg's Statement on the Release of Export Data from the Commerce Department
Washington, D.C. - Ex-Im Bank Chairman and President Fred P. Hochberg issued the following statement with respect to October's export data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department. According to BEA, the United States exported $197.5 billion of goods and services in October 2014.
These numbers clearly demonstrate that products stamped 'made in America' are in high demand throughout the world, said Hochberg. Ex-Im Bank will continue to support U.S. exporters and their workers as they expand their footprint in the global marketplace and create good-paying jobs here at home.
Exports of goods and services over the last twelve months totaled $2.3 trillion, which is 47.7 percent above 2009 levels, and have been growing at an annualized rate of 8.5 percent over the last five years.
ABOUT EX-IM BANK:
Ex-Im Bank is an independent federal agency that supports and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees and export credit insurance, to promote the sale of U.S. goods and services abroad. Ninety percent of its transactions directly serve American small businesses.
In fiscal year 2014, Ex-Im Bank approved $20.5 billion in total authorizations. These authorizations supported an estimated $27.5 billion in U.S. export sales, as well as approximately 164,000 American jobs in communities across the country.
Small business exporters can learn about how Ex-Im Bank products can empower them to increase foreign sales by clicking here. For more information about Ex-Im, visit www.exim.gov.