Does the video card influence the speed at which a video is processed and exported from Adobe Premier Elements?

Does the video card influence the speed at which a video is processed and exported from Adobe Premier Elements? or is all the processing done by the CPU. What is an entry level card that would handle video processing adequately?
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Guest [Entry]

As far as I can see, Adobe do not (or have not announced) support for CUDA with Premier Elements, which means that you will not see a speed increase with different graphics cards.