U.S. Exports Reach a Record $195 Billion in November

This past Tuesday guest speaker Elena Mendez from the Ex-Im Bank presented to the Rotary Club of Miami Brickel. The following information may be of interest to many members:

Ex-Im Bank Continues to Support U.S. Jobs by Financing U.S. Exports

Washington, D.C. – The United States exported a record $194.9 billion in goods and services in November 2013, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.

"Once again, American entrepreneurs are proving why exports are so critical to our economic growth." said Export-Import Bank Chairman and President Fred P. Hochberg. "Today’s numbers showcase the importance of exports to the U.S. economy and how Ex-Im Bank plays a critical role in supporting American businesses overseas. We provide critical financing to increase sales and create jobs."

November’s figure is considerably larger than the previous high recorded in October, which was revised upward this month to $193.1 billion.

Exports of goods and services over the last 12 months totaled $2.3 trillion, which is 43.7 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 9.7 percent when compared to 2009.

During the same time period among the major export markets (i.e., markets with at least $6 billion in annual imports of U.S. goods), the countries with the largest annualized increase in U.S. goods purchases, when compared to 2009, were Panama (27.3 percent), Russia (21.3 percent), Hong Kong (20.1 percent), United Arab Emirates (20.0 percent), Peru (19.9 percent), Chile (18.7 percent), Colombia (18.6 percent), Argentina (16.7 percent), Ecuador (16.6 percent), and Indonesia (15.4 percent).


Ex-Im Bank is an independent federal agency that creates and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. 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. In the past fiscal year alone, Ex-Im Bank earned for U.S. taxpayers more than $1 billion above the cost of operations.

In FY 2013, Ex-Im Bank approved more than $27 billion in total authorizations to support an estimated $37.4 billion in U.S. export sales and approximately 205,000 American jobs in communities across the country. For the year, the Bank approved a record 3,413 transactions– or 89 percent–for small businesses. Small business exporters can learn about how Ex-Im Bank products can help them increase foreign sales at http://go.usa.gov/ZVTd. For other information about Ex-Im, visit www.exim.gov.

Also –

The Export-Import Bank of the United States (Ex-Im Bank) established since 1934, is the official export credit agency of the United States. Ex-Im Bank’s mission is to assist in sustaining and increasing US jobs by supporting the export of U.S. goods and services to international markets.

Ex-Im Bank enables U.S. companies — large and small — to turn export opportunities into real sales that help to maintain and create U.S. jobs and contribute to a stronger national economy.

Ex-Im Bank does not compete with private sector lenders but provides export financing products that fill gaps in trade financing. We assume credit and country risks that the private sector is unable or unwilling to accept. We also help to level the playing field for U.S. exporters by matching the financing that other governments provide to their exporters.

Ex-Im Bank provides working capital guarantees (pre-export financing); export credit insurance; and loan guarantees and direct loans (buyer financing). No transaction is too large or too small. On average, more than 85% of our transactions directly benefit U.S. small businesses


Marine Reserves

Dr. Martin Arostegui presented to the Rotary Club of Miami Brickell this past Tuesday January 7. His interesting presentation was titled: Are Marine Reserves a Good Idea?

Decades ago coastal communities around the world started noticing a decline in their fish populations. As the trend worsened considerable scientific research was carried out to learn about the causes and bring about possible solutions. Many factors have been identified; most importantly, environmental degradation, water pollution, climate change and overfishing. In order to bring about positive change, all must be addressed.

Marine Reserves have been established all over the world to combat overfishing and to enhance the coastal marine environment. By definition, Marine Reserves are zones where all animals and plants have permanent protection and therefore cannot be removed. Marine Reserves have been proven scientifically to protect the coastal environment and at the same time enhance fisheries outside their borders.

Photo – Jeffrey Pujals, President; Capt. Gil Muratori; Capt. Bouncer

Smith; Dr. Martin Arostegui, Presenters; and Roberto Ruvalcaba, President Elect.