Subscribe to our free, weekly email newsletter!



Give the Obama administration a break

image

The Obama-Biden administration consists of thousands of individuals in a variety of departments working to advance the President’s agenda at home and abroad. The President’s Cabinet serves as a board of the highest level expert advisors on matters ranging from transportation to homeland security.

By Patrick Burnson, Executive Editor
February 15, 2011

Despite the beating the Obama Administration has taken on its trade policies, one fact is indisputable: Exports of U.S. goods and services grew 16.6 percent in calendar year 2010.

According to the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department, U.S. exports totaled about $1.8 trillion for calendar year 2010, up 16.6 percent from 2009 when they totaled about $1.57 trillion. Exports for December totaled $163 billion, the highest monthly figure since July 2008.

In another report of growing U.S. exports, the Export-Import Bank of the United States (Ex-Im Bank) posted strong first-quarter results for Fiscal Year 2011, with small business authorization volume in dollars jumping 22.46 percent over the same quarter of 2010.

“We are delighted with the continuing growth trend. The United States remains on track to meet President Obama’s goal of doubling exports and supporting two million American jobs by 2015,” said Ex-Im Bank Chairman and President Fred P. Hochberg.

Among the major export markets (defined as markets averaging at least $500 million per month in imports of U.S. goods), the largest percentage increases in U.S. goods purchases occurred in Turkey (48.7 percent), Panama (41.4 percent), Taiwan (40.8 percent), Peru (37.2 percent), Indonesia (35.9 percent), Korea (35.8 percent, Brazil (35.5 percent), Malaysia (34.4 percent), Argentina (33.1 percent), and China (32.2 percent).

In addition, Ex-Im Bank reported it authorized an estimated $8 billion in total authorizations for the first quarter of Fiscal Year 2011 (October, November and December, 2010), supporting nearly $9.3 billion in export sales and 66,000 American jobs in communities across the country.

And the news gets better:

“We expect a higher overall authorization rate for Fiscal Year 2011 than in fiscal 2010,” Hochberg said.


For more latest news and insight revolving around global trade and logistics services, visit our Critical Topics page on Global Trade.

About the Author

image
Patrick Burnson
Executive Editor

Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

Putting the renewed strength in the truckload market into a very positive perspective is a report issued by Avondale Partners analyst Donald Broughton, which was released yesterday. Entitled, “Q2’15 Trucking Capacity; Goldilocks Era Continues,” Broughton explained that in the second quarter only 70 truckload fleets failed, or exited the business. That number may seem high to some, but it is not, especially when you consider that the second quarter of 2014 saw more than five times as many truckload carriers, 375 to be exact, exit the business.

Global demand remains stable as packaging equipment providers of all sizes shift focus

Six straight days without a ship waiting for berth

Freight forwarders were relieved to learn yesterday that U.S. Customs and Border Protection (CBP) would be delaying its Automated Commercial Environment (ACE) implementation.

The Institute for Supply Management’s (ISM) August edition of the Manufacturing Report on Business saw its PMI, the ISM’s index to measure growth, fall 1.6 percent to 51.1, following a 0.8 percent decline to 52.7 in July. Even with the relatively slow growth over the last two months, the PI has been at 50 or higher for 31 consecutive months.

Article Topics

Blogs · Global · Global Trade · All topics

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2015 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA