U.S. Exports in March Hit Record High of $186.8 Billion

WASHINGTON, May 10, 2012 /PRNewswire-USNewswire/ -- The United States exported $186.8 billion in goods and services in March 2012, an all-time high, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.

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"This month's trade data demonstrates that U.S. exports have continued to increase this year, despite some tough economic conditions abroad," said Fred P. Hochberg, chairman and president of the Export-Import Bank of the United States. "This report confirms the record progress we are making while working to meet President Obama's goal of doubling exports by the end of 2014."

Exports of goods and services over the last twelve months totaled $2.147 trillion, which is 36.3 percent above the level of exports in 2009.

Over the last twelve months, the major export markets with the largest annualized increase in U.S. goods purchases were Panama (38.0 percent), Turkey (34.2 percent), Chile (30.2 percent), Honduras (30.1 percent), Argentina (29.6 percent), Hong Kong (29.2 percent), Peru (28.6 percent), Russia (26.6 percent), Brazil (25.4 percent), and Mexico (22.9 percent).

As of April 30, Ex-Im authorized $10.8 billion in financing and $2.4 billion of that went to small businesses. Small business authorizations currently account for more than 22% of the Bank's overall authorizations. 

About Ex-Im Bank:

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. In the past five years, Ex-Im Bank has earned for U.S. taxpayers $1.9 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.

Ex-Im Bank approved $32.7 billion in total authorizations in FY 2011 -- an all-time Ex-Im record. This total includes more than $6 billion directly supporting small-business export sales -- also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country. For more information, visit www.exim.gov.

SOURCE Export-Import Bank of the United States

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