U.S. Exports Hit $180.4 Billion in September, An All-time High

[pampango]

Source: Market Watch

The United States exported $180.4 billion in goods and services in September 2011, an all-time high, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.

Exports of goods and services over the last twelve months totaled $2.052 trillion, which is 30.3 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 16.3 percent when compared to 2009, a pace greater than the 15 percent required to double exports by the end of 2014.

"Coming off a record-setting year, the Bank continues to have strong demand for Ex-Im products," said Fred P. Hochberg, chairman and president of the Export-Import Bank of the United States. "Increasing U.S. exports creates and sustains American jobs, and it is an important part of our economic recovery. There are enormous opportunities for American companies to sell their products overseas, and we must encourage our nation's business owners to enter these untapped markets."

Over the last twelve months, the major export markets with the largest annualized increase in U.S. goods purchases were Turkey (49.9 percent), Panama (40.1 percent), Argentina (35.2 percent), Peru (31.5 percent), Hong Kong (31.1 percent), Thailand (30.5 percent), Brazil (30.0 percent), South Africa (29.4 percent), Chile (28.0 percent), and China (25.5 percent).

Read more: http://www.marketwatch.com/story/us-exports-hit-1804-billion-in-september-an-all-time-high-2011-11-10

[denverbill]

1. Well, that's encouraging news for a change.

A 30% increase over 2009? I wonder how much of this increase is due to higher oil prices and the fact that we export so much oil and natural gas? And if it's not oil, what the heck are we exporting? Food?

[pampango]

2. Most of the increase was industrial supplies and materials ($1.4 B) and consumer goods ($0.8 B).

"The August to September increase in exports of goods reflected increases in industrial supplies and materials ($1.4 billion); consumer goods ($0.8 billion); automotive vehicles, parts, and engines ($0.2 billion); and capital goods ($0.1 billion). A decrease occurred in other goods ($0.1 billion). Foods, feeds, and beverages were virtually unchanged."

http://www.bea.gov/newsreleases/international/trade/tradnewsrelease.htm

"Exports of manufactured goods continued to dominate total U.S. exports in September, per the Commerce Department trade data released today. Manufactured goods accounted for 80 percent of goods exports and nearly 60 percent of overall exports of goods and services in September.

Manufactured goods exports in September were $100 billion — 15 percent larger than in September 2010, exactly the growth rate needed to double in five years – the Administration’s export goal. Manufactured goods imports in September were $140 billion — up 9.5 percent, considerably more slowly than exports.

The important sector of capital goods, accounting for over 40 percent of manufactured goods exports, showed a warning flag. September capital goods exports were up 11 percent over the year-earlier period, a significantly slower growth rate than for overall manufactured goods. The slow economic growth of major U.S. customers, particularly in Europe, is holding back demand for machinery and other capital goods. In fact, 19 of the 32 capital goods categories showed export declines in September compared to last month.

The latest Commerce Department data for free trade agreement (FTA) partners shows they continue to be the brightest part of manufactured goods trade. The manufactured goods trade balance with FTA partners so far this year is on track to register a record surplus of $40 billion or more for 2011, compared to the huge deficit with countries that have not opened their markets to U.S. exports through free trade agreements.

http://shopfloor.org/2011/11/manufactured-goods-exports-outpace-imports-deficit-remains-unchanged/23022

[Spider Jerusalem]

5. The US exports very little oil

the US IMPORTS, per latest figures, 11 million barrels of oil a day. US EXPORTS are 2.5 million barrels a day. Of which 36,000 barrels per day are crude oil and the rest are finished petroleum products. Most of those finished petroleum products are oil from the Gulf of Mexico that's not "American" oil to begin with...Pemex, the Mexican state oil company, sends a lot of its oil to be refined at US Gulf Coast refineries; that would account for the bulk of those "finished petroleum product" exports...and a similar amount of imports. Which is just really oil in transit for processing.

[FarCenter]

3. Unfortunately, imports of $223.5 billion resulted in a goods and services deficit of $43.1 billion

U.S. September International Trade in Goods and Services
http://www.bloomberg.com/news/2011-11-10/u-s-september-international-trade-in-goods-and-services-text-.html

[Thor_MN]

4. Does that include the value of jobs exported?

[wordpix]

6. what pray tell are we exporting? Deadly toxic chemicals?

[RUMMYisFROSTED]

7. Bombs, toxic debt and jobs?

:shrug:

[dmallind]

8. Oh no need to pray - here you go

Total, Balance of Payments Basis 1,117,372
Net Adjustments 13,505
Total, Census Basis 1,103,867
Petroleum products, other 39,938
Fuel oil 37,492
Industrial machines, other 33,729
Pharmaceutical preparations 33,507
Semiconductors 33,367
Chemicals-organic 28,870
Plastic materials 27,293
Telecommunications equipment 26,822
Electric apparatus 26,156
Nonmonetary gold 24,292
Medicinal equipment 23,927
Computer accessories 23,896
Civilian aircraft 23,843
Chemicals-other 21,729
Industrial engines 20,893
Engines-civilian aircraft 19,406
Measuring, testing, control instruments 17,698
Other industrial supplies 17,231
Parts-civilian aircraft 15,351
Other household goods 15,181
Gem diamonds 14,720
Finished metal shapes 13,290
Soybeans 12,941
Meat, poultry, etc. 12,568
Computers 12,531
Excavating machinery 12,298
Materials handling equipment 11,573
Steelmaking materials 11,244
Corn 11,102
Newsprint 10,322
Wheat 9,801
Metallurgical grade coal 9,720
Precious metals, other 9,655
Generators, accessories 9,612
Iron and steel mill products 9,248
Laboratory testing instruments 8,017
Other foods 7,872
Pulpwood and woodpulp 7,713
Toys, games, and sporting goods 7,691
Photo, service industry machinery 7,659
Drilling & oilfield equipment 7,520
Chemicals-fertilizers 7,339
Toiletries and cosmetics 7,327
Aluminum and alumina 7,197
Jewelry, etc. 6,795
Nonferrous metals, other 6,784
Cotton, raw 6,691
Chemicals-inorganic 6,622


After oil, the next biggest are machinery, medical drugs and semiconductors. A surprise to most is howe far you havr to go down to get anything military.

Numbers are in millions and 2011 YTD - up well over 15% overall on 2010 BTW

Source for full data (download the xls - it's where the fun is):

http://www.census.gov/foreign-trade/data/index.html

[Psephos]

10. informative post :) n/t

[DCBob]

9. kittens, puppies and ponnies..

wrapped in pink blankies.

[melm00se]

11. one of the advantages of having

a currency that is weaker than others.

it makes our exports cheaper then domestically made products in the importing country.