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

Following the lead of its Congressional Colleagues in the House of Representatives, the United States Senate yesterday approved a measure geared to keep federal surface transportation funding intact through the end of December with a nearly $11 billion stopgap fix.

XPO Logistics announced second quarter earnings and the acquisition of two companies, New Breed Logistics, a non asset-based 3PL focusing in contract logistics services, for roughly $615 million, and Atlantic Central Logistics, a 3PL provider of last-mile logistics services, for roughly $36.5 million.

The report, entitled “Outlook for the Domestic Transport and Logistics Market in 2H14 and Beyond,” takes the view that strong freight levels in the second quarter have left trucking companies in a good position: one in which they need to come up with new plans to handle rising demand. But even with that positive momentum afloat, the report observes that there are some familiar challenges intact, such as a lack of qualified drivers and the regulatory drag from the new hours-of-service rules that took effect in July 2013.

Flags of Convenience are a fact of life in the commercial maritime trade, but several European political action groups are worried that they will pose a threat to the Continent’s air cargo industry.

For May, which is the most recent month for which data is available, the SCI is -7.5, following April’s -7.5. FTR said this reading represents a still-tight capacity environment, as utilization rates hover between 98 percent and 99 percent.

Article Topics

Blogs · Global · Global Trade · All topics

Comments

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


© Copyright 2013 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA