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

Industry analysts contend that the Teamsters are not declaring a strike outright, but rather, voting to give their leadership permission for such an action.

Atlas Air Worldwide Holdings said it will provide air cargo services to support Amazon’s package deliveries to its customers.

The dark side of the “Amazon effect” and larger impact made by the explosive growth in e-commerce may soon be seen when organized labor prepares for a massive air cargo strike.

During this webcast our panelist offer logistics and supply chain professionals a “reality check” when it comes to our current state of understanding, adoption, and utilization of the technological tools that are available to improve our operations.

The index ISM uses to measure non-manufacturing growth—known as the NMI—was 55.7 in April (a level of 50 or higher indicates growth), which was up 1.2 percent compared to March, with economic activity in the non-manufacturing sector growing for the 75th consecutive month.

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