U.S. Exports Surpass $2 Trillion in 12 Months
The United States exported $181.3 billion in goods and services in August 2012, according to data released Thursday by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.
“I am pleased that U.S. exports remain high, because they are a major contributor to our economic recovery, and help create and sustain jobs across the country,” said Export-Import (Ex-Im) Bank chairman and president Fred P. Hochberg.
“Going forward, we encourage more American companies to compete in international markets, where 95 percent of the world’s customers are located.”
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Exports of goods and services over the past twelve months totaled $2.173 trillion, which is nearly 37.6 percent above the level of exports in 2009. Over the past twelve months, exports have been growing at an annualized rate of 12.7 percent when compared to 2009.
In June of this year, the U.S. recorded exports of $185.2 billion, an all-time record high, according to Ex-Im Bank.
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Among major export markets, the top ten buying countries with the largest annualized increase in purchases of U.S. goods were, when compared to 2009, Panama (34.9 percent), Chile (27.8 percent), Argentina (26.3 percent), Turkey (26.3 percent), Russia (25.7 percent), Hong Kong (25.6 percent), Peru (25.3 percent), United Arab Emirates (21.8 percent), Ecuador (21.6 percent), and Venezuela (20.9 percent).
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers.