The Export-Import Bank of the United States’ (Ex-Im’s) annual report unveiled this week backs up its claims based off of preliminary numbers in October that the group financed more projects, in dollar value, in 2011 than any previous year.
Ex-Im financed $32 billion in projects through the calendar year, marking the third consecutive campaign in which it broke a previous record. In addition, Ex-Im noted small business financing surged again in 2011 and is up by more than 70% over the last three years. Ex-Im’s activity in 2011 was highest in Mexico and India, and is gaining ground quickly thanks in part to massive needs in the energy sector, said Ex-Im sources.
The organization, an independent federal agency pairing U.S. companies and product manufacturers with companies abroad, also considers the following nations as high-opportunity ares going forward for U.S. businesses: Colombia, Turkey, Vietnam, Indonesia, Brazil, Nigeria and South Africa.
During an NACM interview with Ex-Im President and Chairman Fred Hochberg in September, he said, “If you’re not exporting to places like these, you need to get in that game...there’s not a company that exports [properly] that isn’t doing well.”
Brian Shappell, NACM staff writer