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Statement from Acting U.S. Commerce Secretary Rebecca Blank on International Trade in Goods and Services in July 2012

Tuesday, September 11, 2012

Acting U.S. Secretary of Commerce Rebecca Blank issued the following statement today on the release of the July 2012 U.S. International Trade in Goods and Services report (PDF) by the Commerce Department’s Census Bureau and Bureau of Economic Analysis.  U.S. goods and services exports in July 2012 were down 1.0 percent from June 2012 to reach $183.3 billion and imports declined 0.8 percent to $225.3 billion.

“Today’s data shows that U.S. exports in July posted one of the highest levels on record, despite challenging global economic conditions. While there’s still more work to do, we remain on track toward exceeding last year’s export total of $2.1 trillion, meaning we continue making historic progress toward achieving President Obama’s National Export Initiative goal of doubling our exports by the end of 2014,” said Acting U.S. Commerce Secretary Rebecca Blank. “Travel and tourism continues to be a bright spot in U.S. exports, as today’s data shows that we are on pace for another record year. Higher exports mean more jobs: the significant increase in exports since 2009 has helped America create 4.6 million private sector jobs over the past 30 months, and, in 2011, jobs supported by exports increased by 1.2 million since 2009. However, we are still fighting back from the worst economic crisis since the Great Depression. Now that Congress is back in session they should act immediately to pass remaining provisions of the American Jobs Act, which independent economists have said would create up to one million jobs.”

Exports Fact sheet (PDF)