March 11th, 2010
07:07 PM ET

U.S. exports: How the U.S. stacks up on what we ship out

President Obama has announced an ambitious goal to double exports in the next five years. He appeared Thursday before the Export-Import Bank's annual conference to lay out some details. 

"We remain the number one exporter of goods and services in the world. But we shouldn't be satisfied with being number one," he said. "When other markets are growing, and other nations are competing, we need to get even better."
 
Fact Check: Is the United States the No. 1 exporter of goods and services in the world?

  - According to 2009 World Trade Organization statistics, the United States ranked third in world merchandise trade in dollars in 2008. Germany is first, China is second. The U.S. exports 49 percent capital goods, nearly 27 percent industrial supplies, 15 percent consumer goods and more than 9 percent agricultural products, according to the CIA World Factbook.
 
 - The WTO finds that the U.S. is the largest exporter of commercial services. The U.S. exports nearly double the amount of the United Kingdom, which ranks second. Germany comes in third. 
 
- When added together, the United States is the largest exporter of goods and services.
 
Bottom Line:

While America ranks third in exported goods, its large lead in commercial services gives it the edge over its nearest rivals, making it the world's largest exporter of goods and services. 
 
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Filed under: Economy • Fact Check
soundoff (One Response)
  1. americanpi

    While America ranks third in exported goods, its large lead in commercial services gives it the edge over its nearest rivals, making it the world's largest exporter of goods and services. Well isn't that nice, we're real good in suffling commodities and monies around the world. Problem is we are not producing any of these commodities. According to article US exports only15 percent consumer goods and only 9 percent agricultural products, What's the % of goods and agricultural product are we importing. If we don't alter this trend
    unemployment will stay at 10% for a long time to come. As James Carville so elouently said, "it is the economy stupid".

    March 12, 2010 at 10:32 am | Report abuse |