Subscribe to our free, weekly email newsletter!


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 Staff
September 01, 2010

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!

Recent Entries

Having introduced into the California State Senate a new bill designed to give an exemption from sales and use tax for port terminal operators purchasing zero or “near zero-emission” equipment, Lara is trying to advance two agendas.

The notions of “green shoots” or “cautious optimism” in gauging the current state of the economy does not specifically exhibit what is really happening, when assessing how things are actually going, it seems. That was made clear by Bob Costello, chief economist at the American Trucking Associations, at last week’s NASSTRAC (National Shippers Strategic Transportation Council) Shippers Conference and Transportation Expo in Orlando, Fla. last week.

With a 6.8 cent gain to $2.266 per gallon, this week’s average diesel price is at its highest level since the week of December 28, when it was at $2.237 per gallon.

Manufacturing activity in April remained on the right side of growth for the second straight month, following six months of contraction, according to the April edition of the Manufacturing Report on Business from the Institute for Supply Management (ISM).

Some 22 centuries after the original Silk Road smoothed the path of Chinese silk merchants to Europe, a new effort is beginning to build a new 21st century highway between Europe and the burgeoning economy of China, now the world’s fastest-growing market.

Article Topics

News · Exports · All topics

Comments

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


© Copyright 2016 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA