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

Carload volumes were up 2.8 percent at 304,276, and intermodal volume for the week ending August 16 was up 5.4 percent at 270,316 containers and trailers.

Even though this data can be viewed as “old” in the sense that there is not a whole lot new to report about the port labor talks, it does a good job of looking into the mindset of shippers as talks continue.

Company officials said this service will be provided without any type of additional cost for customer shipments traveling from Ohio, Michigan, and Indiana, with expedited services available to customers outside of this area.

FTR says both spot rates and contract rates are heading up in a full capacity environment and with the fall shipping season rapidly approaching, it explained conditions for shippers could further deteriorate.

Read how others are using Business Process Management to achieve ERP success with Microsoft Dynamics AX. Download the free white paper now.

Article Topics

News · Exports · 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