U.S. Exports in July Reach $183.3 Billion
WASHINGTON, D.C. - The United States exported $183.3 billion in goods and services in July 2012, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.
Exports are a bright spot in our economic recovery, and it is critical that we encourage more American companies to compete in international markets, said Export-Import Bank Chairman and President Fred P. Hochberg. I am pleased that U.S. exports remain high, and Ex-Im Bank will continue to help create and sustain American jobs through our export financing products.
Exports of goods and services over the last twelve months totaled $2.171 trillion, which is 37.5 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 13.1 percent when compared to 2009.
Over the last twelve months, among the major export markets, the countries with the largest annualized increase in U.S. goods purchases, when compared to 2009, occurred in Panama (36.3 percent), Turkey (28.6 percent), Chile (27.6 percent), Argentina (27.5 percent), Hong Kong (26.9 percent), Russia (26.5 percent), Peru (25.4 percent), United Arab Emirates (21.8 percent), Ecuador (21.7 percent), and Brazil (21.6 percent).
July's exports were down slightly from the previous month's all-time record high of $185.2 billion.
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 five years, Ex-Im Bank has earned for U.S. taxpayers $1.9 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.