Statement from U.S. Secretary of Commerce Penny Pritzker on International Trade in Goods and Services in February 2016

U.S. Secretary of Commerce Penny Pritzker issued the following statement today on the release of the February 2016 U.S. International Trade in Goods and Services monthly data. U.S. exports of goods and services increased to $178.1 billion in February from $176.3 billion in January. In February, travel services registered a new record, with $15.3 billion of exports. In addition, growth in goods exports was largely driven by consumer goods, up $1.1 billion from January.

“The increase in February exports show that despite facing global headwinds, U.S. exporters remain committed to delivering their world-class products and services to consumers around the world,” said Secretary Pritzker. “President Obama’s trade agenda focuses on expanding market access and leveling the playing field for U.S. businesses through trade agreements like the Trans-Pacific Partnership. This approach is the best path to growing the economy and ensuring our leadership in this strategically important region of the world.”

The Trans-Pacific Partnership (TPP) is a transformational 21^st-century trade agreement with 11 other countries bordering the Pacific, home to some of the fastest-growing markets in the world. Combined, the current TPP members represent nearly 40 percent of the global GDP. TPP levels the playing field for American workers and American businesses, supporting more Made-in-America exports and higher paying American jobs.

The TPP will foster the type of economic integration that currently enhances trade with our free trade agreement (FTA) partners. Since 2009, U.S. goods exports to FTA partners have grown faster (53 percent) than our exports to the rest of the world (34 percent).