U.S. Exports Increase 18% in First Five Months of 2010

U.S. exports of goods and services increased 17.7 percent during the first five months of 2010, according to data released by the Census Bureau and the Bureau of Economic Analysis.

"This data reinforces the strong growth to date in U.S. exports in 2010," said Export-Import Bank Chairman and President Fred Hochberg. "Ex-Im Bank financing has supported an estimated 150,000 U.S. jobs in the fiscal year to date. The bank will continue to use all of its resources to support the president's goal by reaching out to even more U.S. businesses, especially small businesses, to help them export and, in the process, create more American jobs."

Data highlights include:

U.S. exports totaled $739.5 billion during the January-through-May period of 2010, up 17.7 percent from the same period of 2009;

The May export figure is the strongest year-to-date, as well as the strongest monthly performance since September 2008;

Among the major export markets, the largest percentage increases in goods exports occurred in Taiwan (68 percent), Korea (56 percent), Malaysia (51 percent), Singapore (45 percent), Philippines (45 percent), Czech Republic (44 percent), Indonesia (42 percent), Thailand (41 percent), China (39 percent) and Colombia (38 percent);

Ex-Im Bank, an independent, self-sustaining federal-government agency, provides export financing that helps strengthen U.S. exports. The bank provides financing mechanisms, including working capital guarantees to help small and medium-sized U.S. businesses, export-credit insurance to protect against nonpayment by foreign buyers, and loan guarantees and direct loans to assist foreign buyers of U.S. goods and services.

In fiscal year 2009, overall Ex-Im Bank financing totaled $21 billion, and authorizations supporting small-business exports reached a historic high of $4.4 billion, nearly 21 percent of total authorizations.