Good news for U.S. exporters

According to Ex-Im Bank spokesmen, shippers remain “on track” to meet President Obama's goal of doubling exports and supporting two million American jobs over the next five years.

By ·

Exports of U.S. goods and services increased 17.7 percent during the first six months of 2010, according to data released by the Bureau of Economic Analysis of the U.S. Commerce Department.

According to Ex-Im Bank spokesmen, shippers remain “on track” to meet President Obama’s goal of doubling exports and supporting two million American jobs over the next five years.

“This data shows both the growth and opportunities available for American companies to continue to create jobs through exports,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “For its part, Ex-Im Bank has authorized $20.8 billion in export financing and supported an estimated 193,000 U.S. jobs in the fiscal year to date. We will continue to widen our outreach to U.S. businesses large and small, to help them grow their profits through exports.”

Data highlights include:
• U.S. exports totaled $890 billion during the January-through-June period of 2010, up 17.7 percent from the same period of 2009.
• June exports totaled $150.5 billion.
• Among the major export markets, the largest percentage increases in goods exports occurred in Taiwan (60 percent), Korea (53 percent), Malaysia (50 percent), Singapore (43 percent), Brazil (38 percent), China (36 percent), Colombia (36 percent), Mexico (32 percent), Canada (27 percent), and Hong Kong (27 percent).

President Barack Obama’s National Exports Initiative is a government-wide effort to put the United States on a path to sustained economic growth by doubling exports and creating 2 million jobs in five years. To support this effort, Ex-Im Bank is continuing to expand its outreach efforts and make its financing products accessible to more exporters.

Ex-Im Bank, an independent, self-sustaining federal-government agency, provides export financing that helps strengthen U.S. export competitiveness, and creates and maintains U.S. jobs. The Bank provides a variety of financing mechanisms, including working capital guarantees to help small and medium-sized U.S. businesses, export-credit insurance to protect against nonpayment by foreign buyers, and loan guarantees and direct loans to assist foreign buyers of U.S. goods and services.

In fiscal year 2009, overall Ex-Im Bank financing totaled $21 billion, and authorizations supporting small-business exports reached a historic high of $4.4 billion, nearly 21 percent of total authorizations.
In the first 10 months of FY 2010 (through July 2010), Ex-Im Bank authorized $20.8 billion in loans, guarantees and insurance.


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

Exports · All Topics
Latest Whitepaper
2017 Top 50 3PLs: Investment and Consolidation Maintain Traction
The trend set over the past few years for mergers and acquisitions has hardly subsided, and a fresh injection of equity investment is transforming the marketplace. At the same time, shippers may expect to see 3PLs continue to purchase high-tech “solutions” and hire young professionals for implementation.
Download Today!
From the August 2017 Logistics Management Magazine Issue
Which carriers, third-party logistics providers, and North American ports have crossed the service excellence finish line ahead of their competitors? Our readers have cast their votes, and now it’s time to introduce this year’s winners of the coveted Quest for Quality Awards.
BMW Takes the Inland Road to Efficiency
Global Logistics: No Shortcuts to Security
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Getting the most out of your 3PL relationship
Join Evan Armstrong, president of Armstrong & Associates, as he explains how creating a balanced portfolio of "Top 50" global and domestic partners can maximize efficiency and mitigate risk.
Register Today!
EDITORS' PICKS
34th Annual Quest for Quality Awards: Winners Revealed
Which carriers, third-party logistics providers, and North American ports have crossed the service...
2017 Salary Survey: Fresh Voices Express Optimism
Our “33rd Annual Salary Survey” reflects more diversity entering the logistics management...

LM Exclusive: Major Modes Join E-commerce Mix
While last mile carriers receive much of the attention, the traditional modal heavyweights are in...
ASEAN Logistics: Building Collectively
While most of the world withdraws inward, Southeast Asia is practicing effective cooperation between...