Exports of U.S. goods and services increased 17.9% during the first seven months of 2010, according to data released by the Bureau of Economic Analysis of the U.S. Commerce Department.
Among the major export markets, the largest percentage increases in U.S. goods purchases occurred in Taiwan (55.3%), Korea (51.5%), Turkey (49%), Malaysia (47.3%), Indonesia (44.6%), Peru (41.9%), and Singapore (40.1%).
"Again we are heartened by the export increase, which shows a growing appetite for U.S.-made goods and services, and that translates to more American jobs," said Ex-Im Bank Chairman and President Fred P. Hochberg. "For its part, Ex-Im Bank has authorized USD21.5 billion in export financing and supported an estimated 200,000 U.S. jobs this 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."
U.S. exports totaled USD1.044 trillion during the January-through-July period of 2010, up 17.9% from the same period of 2009, and July exports totaled USD153.3 billion.
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 by 2015. To support this effort, Ex-Im Bank is continuing to expand its outreach efforts and make its financing products accessible to more exporters.