Give the Obama administration a break

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

<p>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.</p>

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.

in the News

Yard Management: An Evaluator’s Guide
VW settlement could bring ” greener” funding for U.S. seaports
Expanded Panama Canal means scrap heap for last generation of container ships
FMC weighs in on SOLAS Convention’s verified gross mass requirements
Infor acquires Predictix
More News
By ·

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

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 [email protected]

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!

Article Topics

Global · Global Trade · All Topics
Latest Whitepaper
Reduce Order Processing Costs by 80%
Sales order automation software will seamlessly transform inbound emailed and printed purchase orders into electronic sales orders that can be automatically processed into your ERP system with 100% accuracy.
Download Today!
From the June 2016 Issue
In the wildly unstable ocean cargo carrier arena, three major consortia are fighting for market share, with some players simply hanging on for survival. Meanwhile, shippers may expect deployment shifts as a consequence of the Panama Canal expansion.
WMS Update: What do we need to run a WMS?
Supply Chain Software Convergence: Synchronization Realized
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Optimizing Global Transportation: How NVOCCs Can Use Technology to Operate More Profitably
Global transportation isn't getting any easier to manage, especially for non-vessel operating common carriers (NVOCCs). Faced with uncertainties like surcharges—but needing to remain competitive when bidding against other providers—NVOCCs need the right mix of historical data, data intelligence, and technology support to make quick and effective decisions. During this webcast you'll learn how Bolloré Transport & Logistics was able to streamline its global logistics and automate contract management.
Register Today!
EDITORS' PICKS
Top 50 U.S. and Global 3PLs 2016: Technology Now the Key Differentiator
Following last year’s merger and acquisition frenzy, the speed of technology implementation by the...
Digital Reality Check
Just how close are we to the ideal digital supply network? Not as close as we might like to think....

Top 25 ports: West Coast continues to dominate
The Panama Canal expansion is set for late June and may soon be attracting more inbound vessel calls...
Port of Oakland launches smart phone apps for harbor truckers
Innovation uses Bluetooth, GPS to measure how long drivers wait for cargo