Fact Sheet: National Export Initiative [Note: This Fact Sheet was updated May 24, 2013] 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 Manufacturing 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.
Small Businesses
Source: U.S. Department of Commerce
