National Export Initiative

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National Export Initiative Fact Sheet

To strengthen America’s economy, support additional jobs here at home, and ensure long-term, sustainable growth, President Obama launched a government-wide strategy to promote exports. The National Export Initiative (NEI) is one essential component of that strategy.

The Obama Administration has made it a top priority to improve the conditions that directly affect the private sector’s ability to export, working to remove trade barriers abroad, help firms and farmers overcome hurdles to entering new markets, and assist with financing. In addition, we have renewed and revitalized our efforts to promote American exports abroad.

These efforts are paying off – and helping to change the way America does business. Now more than at any time in our history, Americans are selling more U.S. goods and services to the 95 percent of consumers who live outside of our borders.

We are making historic progress toward the President’s goal of doubling exports by the end of 2014. In 2012, U.S. exports hit an all-time record of $2.2 trillion. Particular success stories included the growth of exports to America’s free trade agreement partners, record exports for the motor vehicle industry and agricultural products, and a robust travel and tourism sector. Significant export growth since 2009 has contributed to America creating 6.1 million private sector jobs over the past 35 months.

There is still more work to do. U.S. businesses faced economic headwinds from Europe and other parts of the globe in 2012. That is why the Obama Administration continues to do everything possible to support American farmers, workers, and businesses as they compete in the global marketplace.

EXPORTS MATTER: The World Wants What America Makes

• U.S. exports set another record in 2012, reaching $2.2 trillion despite significant economic headwinds from abroad. 

• Growth in exports of goods and services outpaced the growth of imports of goods and services in both dollar and percentage terms for the first time since 2007, with exports growing by $92.6 billion or 4.4 percent. 

• Exports as a share of U.S. GDP were 13.9 percent in 2012, tying the record set in 2011.

• The U.S. also saw record levels of merchandise exports to more than 70 countries.

• The growth in exports came despite a slowdown in the world economy and in world trade volumes.   

EXPORT SUCCESSES:  SECTOR SPOTLIGHTS

Manufacturing

• Exports are boosting the U.S. manufacturing sector. Manufactured goods exports increased by 47 percent between 2009-2012, reaching a record $1.35 trillion for 2012.

• The manufacturing sector has added roughly half a million jobs over the last three years, the most for any such period since 1996.

• Aerospace:

• U.S. exports of civilian aircraft are up by more than one-third in 2012 from 2011. This sector remains a strong area for export growth to emerging markets in Asia and the Middle East, and is a continued bright spot for U.S. exports in the European markets.

• Motor Vehicles and Parts:

• After a full recovery from the recession, the U.S. automotive industry has continued to be a strong area of growth for U.S. exports. Automotive vehicle and parts exports¹ were up by more than 10 percent in 2012, compared to 2011. 

• U.S. exports of motor vehicles and parts² totaled  $132.7 billion in 2012, an increase of nearly 80 percent from the $74.2 billion of these goods exported in 2009.

• When President Obama took office, the American auto industry was shedding jobs by the hundreds of thousands, and GM and Chrysler faced the possibility of liquidation – which would have caused at least one million additional jobs to be lost. The President made the tough choice to help provide the auto industry the temporary support it needed to grow and prosper.

Services

• The United States remains the largest exporter of private commercial services in the world.

• In 2012, U.S. services exports totaled $632.3 billion, up 4.4 percent from 2011. With U.S. services imports growing at only 2.2 percent, the trade surplus in services grew by $16.8 billion, leading to an overall reduction in the U.S. trade deficit from last year.

• Expanding America’s services industry through trade is a smart effort, because three out of four American jobs are already in the services sector, and in 2011 (latest data available) every additional $1 billion in U.S. services exports supported an estimated 4,200 additional American jobs.

• As part of the effort to grow services exports, the U.S. Trade Representative recently notified Congress that the Administration intends to enter into negotiations for a new trade agreement aimed at promoting international trade in services.

Travel and Tourism

• Travel & tourism is our largest category of services exports. In 2012, more than 66 million international tourists visited the United States, generating an all-time record of $168 billion in revenue – an increase of 10 percent from 2011.

• In 2012, travel and tourism accounted for 8 percent of all U.S. exports and 27 percent of all service-exports.

• International travel and tourism also helped contribute to the record surplus the U.S. holds in services exports, which hit $195.3 billion in 2012.

• This sector’s economic potential continues to grow. That is why the President announced new initiatives in 2012 to attract and welcome international visitors to the United States.

• The National Travel and Tourism Strategy is a blueprint for expanding travel to and within the United States, setting the goal of attracting more than 100 million international visitors annually by 2021. These international visitors are projected to spend an estimated $250 billion per year, creating jobs and spurring economic growth in communities across the country.

Agriculture

• In 2012, agricultural exports reached a record $145.4 billion – an increase of 38 percent from 2011, helping to support more than one million jobs on and off the farm. This increase was achieved while farmers weathered the worst drought in decades.

• The agricultural trade surplus in 2012 also reached a record of $38.1 billion.

• China became the largest market for U.S. agricultural exports in 2012 at $26 billion, a 38 percent increase over last year backed by strong sales of soybeans, cotton, and corn.  U.S. agricultural exports to China were just $8.3 billion in 2007.

• In 2012, agricultural exports to Canada and Mexico also reached a record $39.5 and comprised 28 percent of all agricultural exports.³

• The primary driver of U.S. agricultural exports in 2012 was soybeans.  U.S. exports of soybeans increased from $17.6 billion in 2011 to $24.7 billion – a 41 percent increase.  Export volume also increased significantly by 27 percent in 2012, as U.S. soybean producers capitalized on weaker South American competition, strong Chinese demand, and higher prices.

EXPORT SUCCESSES:  COUNTRY AND REGION SPOTLIGHTS

• The United States reached record levels of exports for 2012 with more than 70 trading partners, including major emerging markets and 11 free trade agreement (FTA) partners (Australia, Canada, Chile, Colombia, Costa Rica, Jordan, Mexico, Nicaragua, Oman, Panama, and Peru).

• U.S. merchandise exports to Canada and Mexico achieved record levels in 2012.

Emerging Markets

• The United States achieved record levels of exports in 2012 to the major emerging markets of Brazil, China, India, Russia and South Africa. In fact, despite lagging growth in these countries, exports to Brazil, India, China, and South Africa have grown by 58 percent (or $68 billion) since 2009.

China

• China has accounted for about 10 percent of our total export increase this year. In fact, for the second year in a row, exports to China passed the $100 billion mark, totaling $110.6 billion, a 59 percent increase from 2009.

Russia

• U.S. goods exports to Russia reached record levels in 2012. 

• Major sectors for U.S. export growth to Russia in 2012 included aircraft, motor vehicles and parts, and bovine animals.

Sub-Saharan Africa

• U.S. trade to and from sub-Saharan Africa has tripled over the past decade.

• The International Monetary Fund has estimated growth in sub-Saharan Africa to be 5.8 percent in 2013 5.7 percent in 2014.

• That’s why in June 2012, the President issued the U.S. Strategy Toward Sub-Saharan Africa, committing the United States to elevate our efforts to spur economic growth, trade, and investment in sub-Saharan Africa.

• The Administration launched the Doing Business in Africa (DBIA) Campaign in November 2012 to support the President’s vision and help U.S. businesses and farmers take advantage of the many export and investment opportunities in sub-Saharan Africa.  The DBIA Campaign reflects an unprecedented, whole-of-government approach to increase the level of U.S. trade promotion to the region and expand the availability of trade financing for U.S.-Africa trade

Free Trade Agreement Partners

In 2012, the United States entered into trade agreements with three new partner countries: Colombia, Panama, and South Korea after concerted efforts to ensure the agreements better serve American workers and businesses and better reflect American values. As a result, the United States now has Free Trade Agreements in effect with 20 countries, and these agreements helped to bolster U.S. exports throughout 2012. 

• Exports to these 20 countries represented nearly half of all U.S. goods exports in 2012. 

• In 2012, U.S. goods exports to FTA partners grew nearly twice as fast as exports to the rest of the world.

Korea

• The United States-Korea trade agreement, in force as of March 15, 2012, provides significant new access for exports of U.S. goods and services to Korea’s $1 trillion economy.  Once fully implemented, it is estimated that this agreement will support at least 70,000 American jobs.

• The trade agreement with South Korea sought to level the playing field for U.S. exports by ensuring the reduction of South Korean tariffs on machinery and equipment exports – once more than twice as high as our own – and opening its $530 billion services market.

• U.S. exports of machinery and other capital goods to Korea have grown tremendously, which includes exports of aerospace products and parts, semiconductors, industrial machinery, pharmaceuticals and medicines, motor vehicles, and other general purpose machinery.

Colombia

• The trade agreement with Colombia, in force as of May 15, 2012, is providing new access for U.S. exports to the third-largest economy in Central and South America, and one of our most important strategic partners. Once the agreement is fully implemented, it is estimated that it will support thousands of additional American jobs.

• In 2012, U.S. goods exports to Colombia reached record levels.

• Export growth to Colombia was led by increases in exports of petroleum and coal products, aerospace products and parts, communications equipment, and architectural and structural metal products.

Panama

• In addition, the new trade agreement with Panama, in force as of October 31, 2012, is providing access to one of the fastest growing economies in Latin America.

• In 2012, U.S. goods exports to Panama also reached record levels. 

• Export growth to Panama was led by increases in exports of petroleum and coal products, communications equipment, agricultural and construction machinery, and computer equipment. 

 

 

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