A recent EXIM blog post noted that U.S. exports in 2022 reached an even higher level than in 2021 and in the nearest preceding years of the pandemic. The total value of U.S. exports of goods in 2022 was over $2 trillion, and according to TradeStats Express, an interactive tool created by the International Trade Administration (ITA) that sources U.S. Census Bureau data, the top five categories of U.S. exports in 2022 classified by NAICS-3 codes were as follows:
Prepared by: Office of Trade & Economic Analysis, Industry & Analysis, International Trade Administration of the U.S. Department of Commerce. Source: U.S. Census Bureau; U.S. Exports in 2022 by NAICS-3 Code. URL: TradeStats Express - U.S. Trade by Partner (Countries and Regions)
In addition to TradeStats Express, you can further research international opportunities and trends by reviewing the Market Diversification Tool from the U.S. Department of Commerce and USA Trade Online and the Global Market Finder from the U.S. Census Bureau if your business is in one of these markets. There are many other tools and resources in addition to the ones listed here.
While EXIM can provide financing support to the industry sectors referenced above, the agency supports hundreds of U.S. businesses across a broad range of industries ranging from agriculture exporters to wholesale distributors through:
- Export Credit Insurance which enables eligible U.S. exporters to offer more favorable open account terms to foreign buyers rather than requiring them to either pay cash-in-advance, obtain costly letters of credit, or provide cash against documents
- Working Capital Loan Guarantees which improves cash flow for U.S. exporters
- Other Products and Programs such as foreign buyer financing and direct loans