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U.S. Exports Hit New Annual Record, Reaching $2.35 Trillion in 2014

American Businesses Drive Record Goods Exports to 52 Countries

WASHINGTON — U.S. Secretary of Commerce Penny Pritzker today announced that U.S. exports in 2014 set a record for the fifth consecutive year, reaching $2.35 trillion. International Trade in U.S. Goods and Services data released today by the U.S. Department of Commerce show that U.S. exports are up more than $760 billion since 2009.

U.S. International Trade in Goods and Services

The December 2014 international trade deficit increased 17.1 percent from November, to $46.6 billion. Exports decreased 0.8 percent to $194.9 billion, and imports increased 2.2 percent to $241.4 billion.

For the full year 2014, the trade deficit grew 6 percent to $505b. Exports rose 2.9 percent, to $2.3 trillion, and imports increased 3.4 percent, to $2.9 trillion.

Manufacturer's Shipments, Inventories, and Orders

December 2014 new orders for manufactured goods decreased 3.4 percent, to $471.5 billion. Excluding transportation, new orders fell 2.3 percent. Shipments fell 1.1 percent, to $488.2 billion. Unfilled orders decreased 0.8 percent to $1,166.9 billion. And inventories fell 0.3 percent, to $653.9 billion.

For the full year 2014, new orders for manufactured goods rose 2.8 percent from 2013.

Construction Put in Place

Construction spending in December 2014 was $982.1 billion at a seasonally adjusted annual rate, up 0.4 percent from the revised November 2014 estimate and up 2.2 percent from December 2013. For the full year 2014, construction spending was $961.4 billion, up 5.4 percent from 2013.

Statement from U.S. Commerce Secretary Penny Pritzker on the Advance Estimate of GDP in the Fourth Quarter of 2014

WASHINGTON — The U.S. Commerce Department's Bureau of Economic Analysis today reported that real gross domestic product increased at an annual rate of 2.6 percent in the fourth quarter of 2014, according to the advance estimate.

You're Invited: Today - Gross Domestic Product (GDP) Conference Call Featuring Under Secretary Mark Doms

Washington, D.C. – Under Secretary of Economic Affairs Dr. Mark Doms will participate in a conference call hosted by Business Forward this Friday, to discuss the newest GDP figures released by the Bureau of Economic Analysis that morning. The conference call will also feature Beth Ann Bovino, Chief Economist for Standard and Poor's. 

Register Here

New Residential Construction

Building permits in December 2014 were at a seasonally adjusted annual rate (SAAR) of 1,032,000, down 1.9 percent from the revised November rate and up 1.0 percent from December 2013.

Housing starts in December 2014 were at a SAAR of 1,089,000, up 4.4 percent from November and up 5.3 percent from December 2013.

Advance Monthly Sales for Retail and Food Services

December 2014 retail and food services sales were $442.9 billion, a decrease of 0.9 percent from November 2014 but up 3.2 percent from December 2013. Excluding automobiles, retail and food services sales in December 2014 were $351.9 billion, down 1.0 percent from the prior month but up 1.9 percent from one year earlier.

 Total sales for 2014 were up 4.0 percent from 2013.

Manufacturing and Trade: Inventories and Sales

November 2014 business inventories were $1,763.6 billion, up 0.2 percent from October and up 4.4 percent from November 2013.  Sales were $1,345.8 billion, down 0.2 percent from the previous month but up 2.2 percent from one year earlier.

Monthly Wholesale Trade: Sales and Inventories November 2014

November 2014 sales of merchant wholesalers were $452.2 billion, down 0.3 percent (+/- 0.5%)* from last month. End-of-month inventories were $547.2 billion, up 0.8 percent (+/- 0.4%) from last month.


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