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Statement from Commerce Secretary Gary Locke on September 2010 U.S. International Trade in Goods and Services

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FOR IMMEDIATE RELEASE
Wednesday, November 10, 2010
CONTACT OFFICE OF PUBLIC AFFAIRS
202-482-4883

Exports of goods and services highest since August 2008, services exports highest on record

U.S. Commerce Secretary Gary Locke issued the following statement today on the release of the September 2010 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 September increased by 0.3 percent to $154.1 billion from their August 2010 level. Imports in September declined 1.0 percent below August to $198.1 billion. U.S. exports through the first three quarters of 2010 are up nearly 18 percent compared to the same period last year. At $154.1 billion, September 2010 exports of goods and services were the highest since August 2008. Exports of services in September 2010, at $46.5 billion, were the highest on record.

“Our renewed focus on trade promotion is helping to grow exports, which are critical to our continued economic growth,” Locke said. “So far this year, exports have increased across the board – manufactured goods, services and agricultural products are all up from last year. And the job growth we’re experiencing tells us we’re moving in the right direction, but there is still work to be done.

“Doubling America’s exports over the next five years will play a vital role in job creation. That’s why President Obama and I are working this week in Asia to open up new markets to help American businesses sell more of their products and services abroad and create more jobs here at home. The Commerce Department and this administration will continue to seek new ways to increase opportunities for American businesses to keep our companies competitive and our economy strong.”

Locke is in Yokohama, Japan, with President Obama to take part in the Asia Pacific Economic Cooperation (APEC) Ministerial. APEC is the pre-eminent multilateral vehicle for advancing free and open trade in the region. The 21 member economies account for 54 percent of world gross domestic product and almost half of world trade volumes.  Fact sheet (PDF) | Release (PDF)

U.S. Commerce Secretary Gary Locke issued the following statement today on the release of the September 2010 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 September increased by 0.3 percent to $154.1 billion from their August 2010 level. Imports in September declined 1.0 percent below August to $198.1 billion. U.S. exports through the first three quarters of 2010 are up nearly 18 percent compared to the same period last year. At $154.1 billion, September 2010 exports of goods and services were the highest since August 2008. Exports of services in September 2010, at $46.5 billion, were the highest on record.

 

“Our renewed focus on trade promotion is helping to grow exports, which are critical to our continued economic growth,” Locke said. “So far this year, exports have increased across the board – manufactured goods, services and agricultural products are all up from last year. And the job growth we’re experiencing tells us we’re moving in the right direction, but there is still work to be done.

 

“Doubling America’s exports over the next five years will play a vital role in job creation. That’s why President Obama and I are working this week in Asia to open up new markets to help American businesses sell more of their products and services abroad and create more jobs here at home. The Commerce Department and this administration will continue to seek new ways to increase opportunities for American businesses to keep our companies competitive and our economy strong.” 

 

Locke is in Yokohama, Japan, with President Obama to take part in the Asia Pacific Economic Cooperation (APEC) Ministerial. APEC is the pre-eminent multilateral vehicle for advancing free and open trade in the region. The 21 member economies account for 54 percent of world gross domestic product and almost half of world trade volumes.