Four years ago, President Obama made export promotion a national priority, launching the National Export Initiative to renew and revitalize American exports.
That initiative is working.
Today, the Department of Commerce announced that for the fourth year in a row, the United States has set a record for annual exports. Total U.S. exports for 2013 reached $2.3 trillion.
There were record highs in both goods and services exports. Goods exports totaled $1.58 trillion, with records in a number of important sectors, including industrial supplies, consumer goods, and capital goods.
Service exports hit an all-time high of $682 billion, with records in several major service sectors. Travel and tourism was one record sector, as international visitors contributed $139.6 billion to the American economy.
Mexico was a particularly bright spot for U.S. exporters, as we saw a 4.7 percent increase to $226 billion in exports to our southern neighbor. Commerce Secretary Pritzker is currently leading a business development mission in Mexico, helping even more American companies find new opportunities and qualified business partners in one of our most important export markets.
More important than the numbers we released today, though, is what lies behind them.
More and more businesses are exporting, which is leading to growth and innovation. More and more jobs are supported by exports – nearly 10 million jobs according to the latest data. That’s an increase of 1.3 million jobs since President Obama launched the National Export Initiative in 2010.
We are looking forward to American companies finding new success in the global marketplace in 2014 – expanding to new markets and reaching more customers. This time next year, we want to announce a fifth U.S. export record, more jobs supported by trade, and continued economic recovery here at home.
You can read Commerce Secretary Penny Pritzker’s statement on the data here.
Source: International Trade Administration
Published: June 2, 2014