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Commerce Secretary Gary Locke Statement on December 2009 U.S. International Trade in Goods and Services

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FOR IMMEDIATE RELEASE

Wednesday, February 10, 2010

CONTACT OFFICE OF PUBLIC AFFAIRS

202-482-4883

Commerce Secretary Gary Locke Statement on December 2009 U.S. International Trade in Goods and Services

U.S. Commerce Secretary Gary Locke issued the following statement on the release of the December 2009 U.S. International Trade in Goods and Services report by the Commerce Department’s U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Today’s report showed that U.S. exports in December 2009 increased by 3.3 percent to $142.7 billion since November 2009. Imports in December increased 4.8 percent over November to $182.9 billion.

Total U.S. exports decreased by 15 percent to $1.55 trillion for 2009 from 2008. The final trade deficit for 2009 was $381 billion with total U.S. imports of $1.93 trillion.

"We can be encouraged by U.S. exports of goods and services increasing in December for an eighth consecutive month," Locke said. "However, it is critical we redouble our efforts to increase our competitiveness and meet President Obama's goal of doubling U.S. exports over the next five years to spur economic growth and support jobs at home. The administration's National Export Initiative is focused on expanding trade advocacy, improving access to credit, and removing trade barriers that prevent fair access to foreign markets."

Last week, Secretary Locke detailed how the National Export Initiative (NEI) will help the country reach the President's goal – providing more funding, more focus and more cabinet-level coordination to grow U.S. exports. The NEI represents the first time the United States will have a government-wide export-promotion strategy with focused attention from the president and his Cabinet.

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