US Exports Hit All Time Record

U.S. exports in 2014 set a record for the fifth consecutive year, reaching $2.35 trillion, according to Penny Pritzker, US Secretary of Commerce. It was the 5th consecutive year that the U.S. has set an export record. President Obama has made increasing exports a national priority.

Many states are recording all time records. Watch for more information as that data is released and reported.

Last week we were pleased to have Eric Nielsen of the U.S. Commercial Service presenting regional export data at a Global Chamber event - including, ranked by least to most Per Capital Exports in 2014... Colorado, New Mexico, Nevada, Wyoming, Arizona, Utah, California, Texas and Louisiana.

Harris County, Texas had more exports than any other state except Texas and California.

Increases in 5 year growth rate have been seen in all 9 states except Utah. Export data in thousands.

2010

2013

2014

5 Year Growth (2010-14)

1 Year Growth (2013-14)

2014 Population (millions)

2014 Per Capita Exports

Colorado

6,726,497

8,546,540

8,367,661

24.40%

-2.10%

5.35

$1,564

New Mexico

1,542,450

2,727,517

3,788,925

245.60%

138.90%

2.08

$1,822

Nevada

5,912,569

8,700,603

7,701,393

30.30%

-11.50%

2.84

$2,712

Wyoming

983,304

1,335,647

1,757,146

78.70%

31.60%

0.58

$3,030

Arizona

15,720,859

19,410,146

21,123,575

34.40%

8.80%

6.73

$3,139

Utah

13,808,477

16,111,382

12,265,685

-11.20%

-23.90%

2.94

$4,172

California

143,208,226

168,044,753

174,128,618

21.59%

3.60%

38.80

$4,488

Texas

206,992,356

279,490,894

289,023,273

39.60%

3.40%

26.96

$10,720

Louisiana

41,370,690

63,338,556

65,085,099

57.30%

2.70%

4.65

$13,996

Click HERE for more information on Utah.

Click HERE for more information on Arizona.

“Exports have played a critical role in America’s economic comeback, and they continued to do so in 2014,” said Secretary Pritzker.

“President Obama has set an ambitious trade agenda that will open up more markets to ‘Made in America’ goods and services, allowing our businesses to sell their products all over the world so they can expand and hire here at home."

Here's more information from the U.S. Commerce Department:

U.S. Goods Exports (2014)

Increased 2.7% to a record $1.64 trillion. Key industry sectors setting records included capital goods; consumer goods; petroleum products; foods, feeds, and beverages; and automotive vehicles and parts. The largest export markets for U.S. goods were Canada, Mexico, and China, with exports to each country registering annual records.

**U.S. Services Exports (2014) **

Annual services exports hit an all-time high of $710.3 billion, led by increases in the travel, transport, charges for the use of intellectual property, and financial services sectors. Exports from these sectors were all record highs in 2014. The trade surplus in services exports reached a record $231.8 billion, an increase of 2.9% from 2013.

U.S. exports in 2013 supported 11.3 million jobs, and so that number was even higher in 2014. That represents an increase of 1.6 million export-supported jobs between 2009 and 2013.