Posted at 1:18 PM
U.S. Secretary of Commerce Penny Pritzker issued the following statement today on the release of the August 2014 U.S. International Trade in Goods and Services data. U.S. exports of goods and services increased to a record $198.5 billion from $198.0 billion in July, reaching record levels in capital goods, consumer goods, petroleum, as well as total services exports. Exports of manufactured goods in the month of August totaled $121.1 billion. Year-to-date, exports of manufactured goods are up 1.5% from the same period of 2013.
“U.S. exports are growing faster than a year ago and achieved another record in August. This is great news for our nation’s economic recovery and better news for the local communities that are home to the manufacturing operations supplying high-quality, American-made goods,” said Secretary Pritzker.
“As we celebrate Manufacturing Day and focus our attention on the critical role the manufacturing sector plays in our economy, these figures indicate that global consumers continue to have a strong desire for American goods and services. Today’s data show that manufactured goods exports are up 1.5 percent over the same period for 2013, and additional data from the Labor Department show that the economy added 4,000 manufacturing jobs in August, helping bring the unemployment rate down to 5.9 percent. As the lead agency promoting both manufacturing and exports for the Administration, the Department of Commerce remains committed supporting a robust manufacturing sector and ensuring that all U.S. firms have the ability to sell their goods and services to the 95 percent of customers that live outside our borders.”
To continue strengthening U.S. exports, Secretary Pritzker launched NEI/NEXT in May, which will continue helping more U.S. companies reach additional overseas markets with objectives focused on improving data, providing information on specific export opportunities, working more closely with financing organizations and service providers, and partnering with states and communities to empower local export efforts. NEI/NEXT builds on the success of the National Export Initiative (NEI) announced by President Obama in 2010. Since the launch of the NEI, a record number of U.S. companies have exported annually, and the United States has seen an increase of 1.6 million export-supported jobs since 2009. U.S. goods and services exports have hit record highs four years in a row, reaching $2.3 trillion in 2013.