Record $24.5 billion in ?10 Ex-Im Bank financing

Record $24.5 billion in Æ10 Ex-Im Bank financing    The U.S. Export-Import Bank authorized a record $24.5 billion in export financing in fiscal year 2010, supporting $34.4 billion worth of exports, said Bank Chairman and President Fred P. Hochberg, citing preliminary figures on Thursday.
   “Two of our major priorities are to engage more small businesses and increase our renewable-energy portfolio. And we broke records on both fronts — approving a record $5 billion in financing for small companies and tripling our renewable energy export financing to over $300 million,” Hochberg said.
   In fiscal 2010, Ex-Im Bank approved 3,532 transactions, of which more than 1,000 companies used the bank's financing for the first time. In specific, the bank financed a $3 billion liquid natural gas project. For the smallest transaction of the year, the bank provided a $5,400 short-term insurance policy to help a small company in California export health care products to Russia.
   In addition, the bank introduced new products and services, including supply chain financing for small businesses and “Solar Express” financing for renewable-energy projects.
   “While the bank’s 2010 performance is impressive, there remains enormous untapped potential for more American companies to sell more goods and services to more customers in more countries,” Hochberg said. “And through improved customer service and increased outreach efforts, Ex-Im is committed to helping U.S. companies achieve this goal.”
   The Commerce Department also reported on Thursday that exports of U.S. goods and services increased 17.9 percent during the first eight months of 2010. The exports totaled $1.2 trillion for the January-August period, up 17.9 percent over the same period of 2009. August 2010 exports totaled $153.9 billion, the largest monthly figure since August 2008.
   Among the major export markets, defined as markets averaging at least $500 million per month in imports of U.S. goods, the largest percentage increases in U.S. goods purchases occurred in:
   ' Taiwan, 50 percent.
   ' Indonesia, 46.6 percent.
   ' Korea, 46.4 percent.
   ' Turkey, 45.4 percent.
   ' Malaysia, 43.5 percent.
   ' Brazil, 40.9 percent.
   ' Singapore, 39.4 percent.
   ' Peru, 37.7 percent.
   ' China, 35.6 percent.
   ' Philippines, 35 percent.
   'While it’s promising that American consumer spending continues to rebound, today's numbers are another reminder that we still have work to do to help U.S. businesses sell more of their goods and services overseas,' said Commerce Secretary Gary Locke. ' Chris Gillis