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 November'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 $196.4 billion of goods and services in November 2014.
Contrary to the old conventional wisdom that the days of the U.S. making things are behind us, these numbers are further proof that the world still demands quality American-made goods-now more than ever, in fact, said Hochberg. At Ex-Im Bank, we're supporting American exporters and workers to bring their goods and services to new global markets and create more middle class jobs here at home.
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.
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