Thursday, April 12, 2012
U.S. EXPORTS OVER $181 BILLION IN FEBRUARY
FROM: U.S. EXPORT-IMPORT BANK
U.S. Exports Hit More Than $181.2 Billion in February
WASHINGTON, D.C. – The United States exported $181.2 billion in goods and services in February 2012, 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 $2.134 trillion, which is 35.46 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 15.04 percent when compared to 2009, a pace slightly greater than the 15 percent required to double exports by 2015.
“Exports are more important to America than ever, and I am pleased that we are on track to meet President Obama’s goal of doubling U.S. exports by 2015,” said Fred P. Hochberg, chairman and president of the Export-Import Bank of the United States.
Over the last twelve months, the major export markets with the largest annualized increase in U.S. goods purchases were Panama (39.1 percent), Turkey (37.0 percent), Honduras (32.1 percent), Argentina (31.0 percent), Chile (30.8 percent), Hong Kong (30.2 percent), Peru (28.1 percent), Russia (26.2 percent), Brazil (25.9 percent), and Guatemala (24.2 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 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.