Date: 2013-08-05

Statement from U.S. under Scretary of Commerce for International Trade Francisco Sánchez on International Trade in Goods and Services in March 2013

WASHINGTON – U.S. Under Secretary of Commerce for International Trade Francisco Sánchez issued the following statement today on the release of the March 2013 U.S. International Trade in Goods and Services data. In March 2013, exports of goods and services dropped slightly to $184.3 billion, a decrease of $1.7 billion from February. Total services exports hit an all-time record, led by increases in travel and tourism, passenger fares, and other private services. Imports of goods and services decreased by $6.5 billion to $223.1 billion. As a result, the trade deficit improved, decreasing to $38.8 billion in March from $43.6 billion in February, exceeding market expectations.

In the first quarter of 2013, U.S. exports have totaled $554.7 billion – the highest quarterly total on record – despite facing economic headwinds and decreases in exports to Europe. This progress follows a strong performance in 2012, when exports reached an all-time high of $2.2 trillion and supported 9.8 million American jobs – an additional 1.3 million jobs since the President announced the National Export Initiative in 2010.

“The latest data shows the valuable role exports continue to play in supporting our nation’s economic growth,” said Under Secretary Sánchez. “Export totals in the first quarter of 2013 are helping us make historic progress toward reaching the President’s goal of doubling U.S. exports by the end of 2014 and supporting an additional 2 million American jobs. The Department of Commerce is committed to continuing to do everything we can to assist American businesses and workers as they sell their goods and services around the world and create more good-paying jobs here at home.”

International Trade Administration

The International Trade Administration (ITA) is the premier resource for American companies competing in the global marketplace. ITA has 2,400 employees assisting U.S. exporters in more than 100 U.S. cities and 70 countries worldwide. For more information on ITA visit www.trade.gov.

( Vivian )20 May,2013

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